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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MAY 2017 |
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FOR |
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HOMEPAGE MEDIA LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MAY 2017 |
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FOR |
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HOMEPAGE MEDIA LIMITED |
HOMEPAGE MEDIA LIMITED (REGISTERED NUMBER: 04448130) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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HOMEPAGE MEDIA LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
1 Langley Court |
Pyle Street |
Newport |
Isle of Wight |
PO30 1LA |
HOMEPAGE MEDIA LIMITED (REGISTERED NUMBER: 04448130) |
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BALANCE SHEET |
31 MAY 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings | 8 |
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SHAREHOLDERS' FUNDS |
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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
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(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. |
HOMEPAGE MEDIA LIMITED (REGISTERED NUMBER: 04448130) |
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BALANCE SHEET - continued |
31 MAY 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
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The financial statements were approved by the Board of Directors on
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HOMEPAGE MEDIA LIMITED (REGISTERED NUMBER: 04448130) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2017 |
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1. | STATUTORY INFORMATION |
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Homepage Media Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added |
tax and other sales taxes. |
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Tangible fixed assets |
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Computer equipment | - |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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HOMEPAGE MEDIA LIMITED (REGISTERED NUMBER: 04448130) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2017 |
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4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
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COST |
At 1 June 2016 |
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Additions |
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Disposals | ( |
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At 31 May 2017 |
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DEPRECIATION |
At 1 June 2016 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 May 2017 |
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NET BOOK VALUE |
At 31 May 2017 |
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At 31 May 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Deferred tax asset |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Social security and other taxes |
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VAT | 5,643 | 2,220 |
Other creditors |
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Accrued expenses |
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Other creditors consists of pensions contributions payable of £1,442 (2016: £961), an amount due to Hotel Mike Limited of |
£6,956 (2016: £7,781) an amount due to Wigwam Publishing Services Limited of £13,549 (2016: £12,400), an amount due |
on account of company credit card of £1,819 (2016: £nil) and a payment received in advance of £nil (2016: £252). |
HOMEPAGE MEDIA LIMITED (REGISTERED NUMBER: 04448130) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2017 |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | £1 | 2 | 2 |
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8. | RESERVES |
Retained |
earnings |
£ |
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At 1 June 2016 |
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Profit for the year |
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At 31 May 2017 |
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9. | RELATED PARTY DISCLOSURES |
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Wigwam Publishing Services Limited |
Mr I Winter is a director and shareholder in Wigwam Publishing Services Limited. |
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During the year the company received services from Wigwam Publishing Services Limited to totalling £ 47,455 (2016: |
£43,702) net of VAT. As at the balance sheet date the amount owed to Wigwam Publishing Services Limited included |
within trade creditors was £nil (2016: £8,218). |
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In addition there was an amount due to Wigwam Publishing Services Limited of £13,549 (2016: £12,400) in respect of |
loans received from included within other creditors. |
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Telestar Computers Limited |
Mr M Frith is a director and shareholder in Telestar Computers Limited. |
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During the year the company received services from Telestar Computers Limited totalling £10,528 (2016: £19,080) net of |
VAT. As at the balance sheet date the amount owed to Telestar Computers Limited included within trade creditors was £nil |
(2016: £1,944). |
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Hotel Mike Limited |
Mr I Winter and Mr M Frith are directors and shareholders in Hotel Mike Limited. |
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During the year the company received services from Hotel Mike Limited amounting to £nil (2016: £3,200) net of VAT. |
Also company sold services to Hotel Mike Limited amounting to £36,250 (2016: £32,500) net of VAT. |
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In addition, there was an amount due to Hotel Mike Limited of £6,956 (2016: £7,781) in respect of loans received from this |
company included within other creditors. |
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The directors consider that these services were supplied and received at open market value. |
HOMEPAGE MEDIA LIMITED (REGISTERED NUMBER: 04448130) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2017 |
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10. | ULTIMATE CONTROLLING PARTY |
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No individual is the ultimate controlling party. The directors between them control the issued share capital. |