Mad World Media Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09949647 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2018

FOR

MAD WORLD MEDIA LTD

Page

Company Information

1

Report of the Accountants

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTOR:

M P Charalambous

REGISTERED OFFICE:

International House

24 Holborn Viaduct

London

EC1A 2BN

REGISTERED NUMBER:

09949647 (England and Wales)

ACCOUNTANTS:

Kirk Rice LLP

The Courtyard

High Street

Ascot

Berkshire

SL5 7HP

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited

financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet.

Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not

required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st January 2018 set out on pages four to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Kirk Rice LLP

The Courtyard

High Street

Ascot

Berkshire

SL5 7HP

9th November 2018

CURRENT ASSETS

Cash at bank

7,354

11,625

CREDITORS

Amounts falling due within one year

4

(14,756

)

(5,660

)

NET CURRENT (LIABILITIES)/ASSETS

(7,402

)

5,965

TOTAL ASSETS LESS CURRENT LIABILITIES

(7,402

)

5,965

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(7,502

)

5,865

(7,402

)

5,965

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 9th November 2018 and were signed by:

M P Charalambous - Director

1.	STATUTORY INFORMATION

Mad World Media Ltd is a private company, limited by shares , registered in England and Wales. The company's registered

number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the value of services provided excluding discounts, rebates and other sales taxes.

Taxation

Taxation for the year comprises current tax. Tax is recognised in the Income Statement, except to the extent that it relates to

items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Going concern

The parent company has agreed to support the company and in the director's opinion the company will be trading for at least

12 months from the date when the balance sheet is signed.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 2 ).

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.18

31.1.17

as restated

£

£

Amounts owed to group undertakings

6,819

-

Taxation and social security

6,676

4,459

Other creditors

1,261

1,201

14,756

5,660

The balance included in amounts owed to group undertakings of £6,819 is due to KI Capital Limited, the parent company,

and arose due to expenses incurred on the companies behalf. The balance is considered repayable on demand and no interest

is being charged.

5.	PRIOR YEAR ADJUSTMENT

During the current year, the directors have carried out a review of the accounting treatment for the costs that were paid on

behalf of the company in the prior year. They have identified additional costs that should have been recharged during the

period ended 31 January 2017 and also noted that these costs were paid by the director and major shareholder of the parent

company personally rather than by the parent company itself. Accordingly the prior year comparative figures in the primary

statements and notes have been restated to correct this allocation issue and this has increased the loss before tax from

£119,827 to £167,555. Given the companies performance the directors agreed with the lender during the prior year that the

amended loan balance of £173,420 should be written off as there is no expectation that this would be repaid. Following this

write off the company made a profit of £5,865 and there is a trivial amount of tax arising on this as losses from the current

year have been carried back to offset this.

6.	RELATED PARTY DISCLOSURES

During the prior year, Mr D Merry, the director and major shareholder in the parent company, provided a loan to the

company to assist with working capital support that totalled £173,420. This loan came in the form of various expenses paid

on behalf of the company by the director during the start up phase. Given the performance of the company, Mr D Merry

agreed to write the loan off as it was unlikely to be repaid in future. There was no interest charged on the loan.

7.	ULTIMATE CONTROLLING PARTY