Company Registration No. 03176903 (England and Wales)
INTERNATIONAL MODEL MANAGEMENT LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
INTERNATIONAL MODEL MANAGEMENT LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
INTERNATIONAL MODEL MANAGEMENT LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
120,125
135,625
Tangible assets
2
10,426
13,308
130,551
148,933
Current assets
Debtors
218,672
210,096
Cash at bank and in hand
55,636
32,983
274,308
243,079
Creditors: amounts falling due within one year
(233,914)
(181,066)
Net current assets
40,394
62,013
Total assets less current liabilities
170,945
210,946
Provisions for liabilities
(1,462)
(1,902)
169,483
209,044
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
169,481
209,042
Shareholders' funds
169,483
209,044
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 12 December 2016
Mr K K Edwards
Director
Company Registration No. 03176903
INTERNATIONAL MODEL MANAGEMENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover represents amounts receivable at a photographic model agency net of VAT and trade discounts.
1.3
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
20% reducing balance
Fixtures, fittings and equipment
20% reducing balance
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.6
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2015 & at 31 March 2016
405,000
36,248
441,248
Depreciation
At 1 April 2015
269,375
22,940
292,315
Charge for the year
15,500
2,882
18,382
At 31 March 2016
284,875
25,822
310,697
Net book value
At 31 March 2016
120,125
10,426
130,551
At 31 March 2015
135,625
13,308
148,933
INTERNATIONAL MODEL MANAGEMENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2
4
Related party relationships and transactions
Other transactions
At 31
March
201
6
, £
391
(201
5
: £
8,410
) was owed to K Edwards, a director of the company. The loan is interest free and repayable on demand.