Mobile Media (Group) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08636586 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2017

for

Mobile Media (Group) Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs K Pounds

Mr D A M Pounds

REGISTERED OFFICE:

Enterprise House

Aviation Park West

Bournemouth International Airport

Christchurch

Dorset

BH23 6NW

REGISTERED NUMBER:

08636586 (England and Wales)

ACCOUNTANTS:

Jelliff Lamprey Partnership Limited

8th Floor

Connect Centre

Kingston Crescent

Portsmouth

Hampshire

PO2 8QL

FIXED ASSETS

Tangible assets

3

906,538

913,046

Investments

4

2,901

3,105

909,439

916,151

CURRENT ASSETS

Debtors

5

175,164

157,683

Cash at bank

64

763

175,228

158,446

CREDITORS

Amounts falling due within one year

6

466,716

392,295

NET CURRENT LIABILITIES

(291,488

)

(233,849

)

TOTAL ASSETS LESS CURRENT LIABILITIES

617,951

682,302

CREDITORS

Amounts falling due after more than one year

7

371,269

405,451

NET ASSETS

246,682

276,851

CAPITAL AND RESERVES

Called up share capital

201

201

Retained earnings

246,481

276,650

SHAREHOLDERS' FUNDS

246,682

276,851

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 24 December 2018 and were signed on its behalf by:

Mrs K Pounds - Director

1.	STATUTORY INFORMATION

Mobile Media (Group) 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.

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 as modified by the revaluation of certain assets.

Property, plant and equipment

Items of property, plant and equipment are stated at historical cost less accumulated depreciation and any

accumulated impairment losses.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

The estimated useful lives range as follows:

Land and buildings - 0% on cost

Fixtures and fittings - 20% on cost

The assets will be assessed at each reporting date to determine whether there is any indication of impairment. Where

there is any indication of impairment, the carrying value of the asset is tested. Any impairment loss is recognised for

the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the

higher of an asset's fair value less costs to sell and value in use.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as

either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a

residual interest in the assets of the company after deducting all of its liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price

including transaction costs and subsequently measured at amortised cost using the effective interest method.

Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price. Financial

liabilities classified as payable within one year are not amortised.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends

payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation

Taxation for the year comprises current and deferred 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 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement

of financial position 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.

Going concern

The company has net liabilities. The accounts have been prepared on a going concern basis as the directors are of

the opinion that the company can continue to trade with the support of the group.

3.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 January 2017

and 31 December 2017

900,000

32,538

932,538

DEPRECIATION

At 1 January 2017

-

19,492

19,492

Charge for year

-

6,508

6,508

At 31 December 2017

-

26,000

26,000

NET BOOK VALUE

At 31 December 2017

900,000

6,538

906,538

At 31 December 2016

900,000

13,046

913,046

Cost or valuation at 31 December 2017 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2015

900,000

32,538

932,538

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2017

2016

£

£

Cost

661,469

661,469

Freehold land and buildings were valued on an open market basis on 31 December 2015 by the directors. .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2017

3,105

Impairments

(204

)

At 31 December 2017

2,901

NET BOOK VALUE

At 31 December 2017

2,901

At 31 December 2016

3,105

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed by group undertakings

174,164

154,893

Other debtors

1,000

2,790

175,164

157,683

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

32,689

17,000

Amounts owed to group undertakings

431,027

371,398

Taxation and social security

-

897

Other creditors

3,000

3,000

466,716

392,295

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

371,269

405,451

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

240,514

337,451

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

403,958

422,451

The bank loan is secured by a fixed charge on the property held by the Company.