Media 5 Solutions Limited 30/06/2018 iXBRL

Media 5 Solutions Limited 30/06/2018 iXBRL

MEDIA 5 SOLUTIONS LIMITED - Company Information

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30/06/2018 2018-06-30 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2017-07-01 Sage Accounts Production 18.30 - FRS xbrli:pure xbrli:shares iso4217:GBP 05548659 2017-07-01 2018-06-30 05548659 2018-06-30 05548659 2017-06-30 05548659 2016-07-01 2017-06-30 05548659 2017-06-30 05548659 2016-06-30 05548659 bus:RegisteredOffice 2017-07-01 2018-06-30 05548659 bus:LeadAgentIfApplicable 2017-07-01 2018-06-30 05548659 bus:Director1 2017-07-01 2018-06-30 05548659 bus:Director2 2017-07-01 2018-06-30 05548659 bus:Director3 2017-07-01 2018-06-30 05548659 bus:CompanySecretary1 2017-07-01 2018-06-30 05548659 core:IntangibleAssetsOtherThanGoodwill 2017-06-30 05548659 core:IntangibleAssetsOtherThanGoodwill 2018-06-30 05548659 core:FurnitureFittingsToolsEquipment 2017-06-30 05548659 core:FurnitureFittingsToolsEquipment 2018-06-30 05548659 core:RetainedEarningsAccumulatedLosses 2016-07-01 2017-06-30 05548659 core:RetainedEarningsAccumulatedLosses 2017-07-01 2018-06-30 05548659 core:WithinOneYear 2018-06-30 05548659 core:WithinOneYear 2017-06-30 05548659 core:AfterOneYear 2017-06-30 05548659 core:ShareCapital 2018-06-30 05548659 core:ShareCapital 2017-06-30 05548659 core:SharePremium 2018-06-30 05548659 core:SharePremium 2017-06-30 05548659 core:RetainedEarningsAccumulatedLosses 2018-06-30 05548659 core:RetainedEarningsAccumulatedLosses 2017-06-30 05548659 core:ShareCapital 2016-06-30 05548659 core:SharePremium 2016-06-30 05548659 core:RetainedEarningsAccumulatedLosses 2016-06-30 05548659 core:IntangibleAssetsOtherThanGoodwill 2017-07-01 2018-06-30 05548659 core:FurnitureFittingsToolsEquipment 2017-07-01 2018-06-30 05548659 core:IntangibleAssetsOtherThanGoodwill 2017-06-30 05548659 core:FurnitureFittingsToolsEquipment 2017-06-30 05548659 bus:Director2 2017-06-30 05548659 bus:Director2 2018-06-30 05548659 bus:Director2 2016-06-30 05548659 bus:Director2 2017-06-30 05548659 bus:Director2 2016-07-01 2017-06-30 05548659 bus:SmallEntities 2017-07-01 2018-06-30 05548659 bus:AuditExemptWithAccountantsReport 2017-07-01 2018-06-30 05548659 bus:FullAccounts 2017-07-01 2018-06-30 05548659 bus:SmallCompaniesRegimeForAccounts 2017-07-01 2018-06-30 05548659 bus:PrivateLimitedCompanyLtd 2017-07-01 2018-06-30 05548659 core:MotorVehicles 2017-07-01 2018-06-30 05548659 core:ComputerEquipment 2017-07-01 2018-06-30
Company registration number: 05548659
Media 5 Solutions Limited
Unaudited filleted financial statements
30 June 2018
Media 5 Solutions Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Media 5 Solutions Limited
Directors and other information
Directors Graeme Derby
Rebecca Forde
Charles McKay
Secretary Rebecca Forde
Company number 05548659
Registered office Number One Forder Way
Hampton
Peterborough
Cambridgeshire
PE7 8GX
Accountants Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
Media 5 Solutions Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Media 5 Solutions Limited
Year ended 30 June 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Media 5 Solutions Limited for the year ended 30 June 2018 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/ regulations-standards-and-guidance/.
This report is made solely to the board of directors of Media 5 Solutions Limited, as a body, in accordance with the terms of our engagement letter dated 28 November 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Media 5 Solutions Limited and state those matters that we have agreed to state to the board of directors of Media 5 Solutions Limited as a body, in this report in accordance with the ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Media 5 Solutions Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Media 5 Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Media 5 Solutions Limited. You consider that Media 5 Solutions Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Media 5 Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
14 December 2018
Media 5 Solutions Limited
Statement of financial position
30 June 2018
2018 2017
Note £ £ £ £
Fixed assets
Intangible assets 5 1,388 3,469
Tangible assets 6 2,522 6,305
_______ _______
3,910 9,774
Current assets
Stocks - 165
Debtors 7 195,068 66,659
Cash at bank and in hand 29,099 70,144
_______ _______
224,167 136,968
Creditors: amounts falling due
within one year 8 ( 181,991) ( 64,327)
_______ _______
Net current assets 42,176 72,641
_______ _______
Total assets less current liabilities 46,086 82,415
Creditors: amounts falling due
after more than one year 9 - ( 17,161)
_______ _______
Net assets 46,086 65,254
_______ _______
Capital and reserves
Called up share capital 4,200 4,200
Share premium account 87,263 87,263
Profit and loss account ( 45,377) ( 26,209)
_______ _______
Shareholders funds 46,086 65,254
_______ _______
For the year ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 14 December 2018 , and are signed on behalf of the board by:
Charles McKay
Director
Company registration number: 05548659
Media 5 Solutions Limited
Statement of changes in equity
Year ended 30 June 2018
Called up share capital Share premium account Profit and loss account Total
£ £ £ £
At 1 July 2016 4,200 87,263 ( 15,459) 76,004
Loss for the year ( 10,750) ( 10,750)
_______ _______ _______ _______
Total comprehensive income for the year - - ( 10,750) ( 10,750)
_______ _______ _______ _______
At 30 June 2017 and 1 July 2017 4,200 87,263 (26,210) 65,253
Loss for the year ( 19,167) ( 19,167)
_______ _______ _______ _______
Total comprehensive income for the year - - ( 19,167) ( 19,167)
_______ _______ _______ _______
At 30 June 2018 4,200 87,263 ( 45,377) 46,086
_______ _______ _______ _______
Media 5 Solutions Limited
Notes to the financial statements
Year ended 30 June 2018
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Number One Forder Way, Hampton, Peterborough, Cambridgeshire, PE7 8GX.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and investment properties measured at fair value through profit or loss.The financial statements are prepared in sterling, which is the functional currency of the entity, and on a going concern basis.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Intangible assets
Intangible assets are carried at cost less accumulated amortisation.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Software - 2 years straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Expenditure on research is written off against profits in the year in which it is incurred. Development expenditure is capitalised and amortised over its useful life.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and IT equipment - 3 years straight line
Vehicles - 3 years straight line
Photobooths - 3 years straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.
Defined contribution plans
The company makes contributions to employees' personal pension schemes at rates agreed with individuals. These contributions are charged to the profit and loss account as they become payable.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2017: 6 ).
5. Intangible assets
Software assets Total
£ £
Cost
At 1 July 2017 and 30 June 2018 163,720 163,720
_______ _______
Amortisation
At 1 July 2017 160,251 160,251
Charge for the year 2,081 2,081
_______ _______
At 30 June 2018 162,332 162,332
_______ _______
Carrying amount
At 30 June 2018 1,388 1,388
_______ _______
At 30 June 2017 3,469 3,469
_______ _______
6. Tangible assets
Fixtures, fittings and IT Total
£ £
Cost
At 1 July 2017 and 30 June 2018 12,031 12,031
_______ _______
Depreciation
At 1 July 2017 5,726 5,726
Charge for the year 3,783 3,783
_______ _______
At 30 June 2018 9,509 9,509
_______ _______
Carrying amount
At 30 June 2018 2,522 2,522
_______ _______
At 30 June 2017 6,305 6,305
_______ _______
7. Debtors
2018 2017
£ £
Trade debtors 171,932 20,079
Other debtors 23,136 46,580
_______ _______
195,068 66,659
_______ _______
8. Creditors: amounts falling due within one year
2018 2017
£ £
Trade creditors 47,973 19,921
Social security and other taxes - 420
Other creditors 134,018 43,986
_______ _______
181,991 64,327
_______ _______
9. Creditors: amounts falling due after more than one year
2018 2017
£ £
Other creditors - 17,161
_______ _______
10. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2018
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Rebecca Forde ( 17,161) 7,619 ( 9,542)
_______ _______ _______
2017
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Rebecca Forde ( 28,590) 11,429 ( 17,161)
_______ _______ _______
The loan payable to Rebecca Forde is interest free.
11. Subsidiary company
The company owns 100% of the share capital of DX Pop Up Limited which is a dormant company.