Registration number:
Professional Media Ltd
for the Year Ended 31 December 2016
Chartered Accountants
Oakmoore Court
11 C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH
Professional Media Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Professional Media Ltd
Company Information
Director |
Mr R G Jones |
Registered office |
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Accountants |
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Professional Media Ltd
(Registration number: 03123812)
Balance Sheet as at 31 December 2016
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2016 |
2015 |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Total equity |
( |
( |
For the financial year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Professional Media Ltd
Notes to the Financial Statements for the Year Ended 31 December 2016
General information |
The company is a private company limited by share capital incorporated in United Kingdom.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. These financial statements for the period ended 31 December 2016 are the first financial statements that comply with FRS102.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Professional Media Ltd
Notes to the Financial Statements for the Year Ended 31 December 2016
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Creditors |
Note |
2016 |
2015 |
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Due within one year |
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Amounts owed to related parties |
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Transition to FRS 102 |
Therefore there is no change to either the balance sheet or profit and loss account as previously presented for the period ended 31 December 2015.
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