Homepage Media Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04448130 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2018

FOR

HOMEPAGE MEDIA LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr I Winter

Mr M Frith

SECRETARY:

Mr M Frith

REGISTERED OFFICE:

Old Yafford Farm

Mill Lane

Yafford

Newport

Isle of Wight

PO30 3LH

REGISTERED NUMBER:

04448130 (England and Wales)

ACCOUNTANTS:

Mackenzies

Chartered Accountants

1 Langley Court

Pyle Street

Newport

Isle of Wight

PO30 1LA

FIXED ASSETS

Tangible assets

4

1,328

1,771

CURRENT ASSETS

Debtors

5

23,915

30,083

Cash at bank and in hand

33,516

25,885

57,431

55,968

CREDITORS

Amounts falling due within one year

6

36,385

31,268

NET CURRENT ASSETS

21,046

24,700

TOTAL ASSETS LESS CURRENT LIABILITIES

22,374

26,471

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

8

22,372

26,469

SHAREHOLDERS' FUNDS

22,374

26,471

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

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

The directors acknowledge their 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors on 30 November 2018 and were signed on its behalf by:

Mr I Winter - Director

1.	STATUTORY INFORMATION

Homepage Media Limited 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added

tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the

extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted

or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet

date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction.

Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 June 2017

and 31 May 2018

4,166

DEPRECIATION

At 1 June 2017

2,395

Charge for year

443

At 31 May 2018

2,838

NET BOOK VALUE

At 31 May 2018

1,328

At 31 May 2017

1,771

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

10,416

16,609

Deferred tax asset

13,499

13,474

23,915

30,083

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

224

313

Social security and other taxes

843

591

VAT

5,285

5,643

Other creditors

29,078

23,766

Accrued expenses

955

955

36,385

31,268

Other creditors consists of pensions contributions payable of £1,922 (2017: £1,442), an amount due to Hotel Mike Limited

of £11,489 (2017: £6,956) an amount due to Wigwam Publishing Services Limited of £15,667 (2017: £13,549), an amount

due on account of company credit card of £nil (2017: £1,819).

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

2

Ordinary

£1

2

2

8.

RESERVES

Retained

earnings

£

At 1 June 2017

26,469

Deficit for the year

(4,097

)

At 31 May 2018

22,372

9.	RELATED PARTY DISCLOSURES

Wigwam Publishing Services Limited

Mr I Winter is a director and shareholder in Wigwam Publishing Services Limited.

During the year the company received services from Wigwam Publishing Services Limited to totalling £68,765 (2017:

£47,455) net of VAT. As at the balance sheet date nothing was owed to Wigwam Publishing Services Limited.

In addition there was an amount due to Wigwam Publishing Services Limited of £15,667 (2017: £13,549) in respect of

loans received from included within other creditors.

Telestar Computers Limited

Mr M Frith is a director and shareholder in Telestar Computers Limited.

During the year the company received services from Telestar Computers Limited totalling £15,959 (2017: £10,528) net of

VAT. As at the balance sheet date nothing was owed to Telestar Computers Limited.

Hotel Mike Limited

Mr I Winter and Mr M Frith are directors and shareholders in Hotel Mike Limited.

During the year company sold services to Hotel Mike Limited amounting to £36,650 (2017: £36,250) net of VAT.

In addition, there was an amount due to Hotel Mike Limited of £11,489 (2017: £6,956) in respect of loans received from

this company included within other creditors.

The directors consider that these services were supplied and received at open market value.

10.	ULTIMATE CONTROLLING PARTY

No individual is the ultimate controlling party. The directors between them control the issued share capital.