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Unaudited Financial Statements |
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for the Year Ended 31st May 2017 |
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Red Snapper Media Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31st May 2017 |
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for |
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Red Snapper Media Limited |
Red Snapper Media Limited (Registered number: 04637091) |
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Contents of the Financial Statements |
for the Year Ended 31st May 2017 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Red Snapper Media Limited |
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Company Information |
for the Year Ended 31st 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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Gloucester House |
Church Walk |
Burgess Hill |
West Sussex |
RH15 9AS |
Red Snapper Media Limited (Registered number: 04637091) |
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Statement of Financial Position |
31st May 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 3 |
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Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Retained earnings | ( |
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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 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. |
Red Snapper Media Limited (Registered number: 04637091) |
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Statement of Financial Position - continued |
31st May 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
on its behalf by: |
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Red Snapper Media Limited (Registered number: 04637091) |
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Notes to the Financial Statements |
for the Year Ended 31st May 2017 |
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1. | 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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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are |
measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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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 Income Statement, |
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 statement of financial position 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 statement of financial position 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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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to profit or loss in the period to which they relate. |
Red Snapper Media Limited (Registered number: 04637091) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st May 2017 |
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1. | ACCOUNTING POLICIES - continued |
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Going concern |
Although the financial statements show that liabilities exceed assets by an amount of £285,608 these |
accounts have been prepared on the going concern basis. The company relies upon the support of |
associated companies (under the control of the directors) and directors' loans via extended credit |
terms. The directors have indicated that this financial support will continue as long as is necessary. |
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2. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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3. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1st June 2016 |
and 31st May 2017 |
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AMORTISATION |
At 1st June 2016 |
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Charge for year |
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At 31st May 2017 |
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NET BOOK VALUE |
At 31st May 2017 |
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At 31st May 2016 |
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Red Snapper Media Limited (Registered number: 04637091) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st May 2017 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1st June 2016 |
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Additions |
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At 31st May 2017 |
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DEPRECIATION |
At 1st June 2016 |
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Charge for year |
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At 31st May 2017 |
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NET BOOK VALUE |
At 31st May 2017 |
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At 31st May 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
2017 | 2016 |
£ | £ |
Other creditors |
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Red Snapper Media Limited (Registered number: 04637091) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st May 2017 |
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8. | RELATED PARTY DISCLOSURES |
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Amounts owed from related parties are as follows: |
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Entity | Relationship | Balance type | 2017 | 2016 |
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Red Snapper Recruitment Limited |
Common
control |
Debtor |
23,893 |
8,505 |
Red Snapper Learning Limited |
Common
control |
Debtor |
14,039 |
34,803 |
Red Snapper Recruitment Limited |
Common
control |
Inter-company |
20,000 |
58,000 |
Red Snapper Learning Limited |
Common
control |
Inter-company |
68,000 |
nil |
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These are unsecured, attract no interest and are repayable on demand. |
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Amounts owed to related parties are as follows: |
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Entity | Relationship | Balance type | 2017 | 2016 |
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Red Snapper Recruitment Limited |
Common
control |
Creditor |
419,855 |
305,650 |
Red Snapper Learning Limited |
Common
control |
Creditor |
350 |
nil |
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These are unsecured, attract no interest and are repayable on demand. |
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Sales to related parties are as follows: |
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Entity | Relationship | 2017 | 2016 |
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Red Snapper Recruitment Limited | Common control | 45,992 | 36,683 |
Red Snapper Learning Limited | Common control | 21,855 | 52,583 |
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Purchases from related parties are as follows: |
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Entity | Relationship | 2017 | 2016 |
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Red Snapper Recruitment Limited |
Common
control |
96,429 |
103,613 |
Red Snapper Learning Limited |
Common
control |
350 |
nil |
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There is also a loan from the director, M Jerrold, at the balance sheet date of £120,010 (2016: |
£250,000). This is unsecured, attracts no interest and is repayable on demand. |
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During 2016, a loan from a related party of £82,356 was written off as non-payable. |
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9. | ULTIMATE CONTROLLING PARTY |
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The controlling party is M Jerrold. |