Company Registration No. 06662635 (England and Wales)
CRAFTED MEDIA LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2016
CRAFTED MEDIA LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 5
CRAFTED MEDIA LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2016
31 August 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
180,792
213,611
Investments
2
21,001
28,001
201,793
241,612
Current assets
Stocks
650
3,248
Debtors
304,310
312,811
Cash at bank and in hand
314,886
161,451
619,846
477,510
Creditors: amounts falling due within one year
(337,395)
(194,241)
Net current assets
282,451
283,269
Total assets less current liabilities
484,244
524,881
Provisions for liabilities
(24,704)
(31,376)
Accruals and deferred income
(10,311)
(13,741)
449,229
479,764
Capital and reserves
Called up share capital
3
46,154
46,154
Share premium account
3,586
3,586
Profit and loss account
399,489
430,024
Shareholders' funds
449,229
479,764
CRAFTED MEDIA LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2016
31 August 2016
- 2 -
For the financial year ended 31 August 2016 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 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 8 May 2017
Mr B Warwick
Director
Company Registration No. 06662635
CRAFTED MEDIA LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2016
- 3 -
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
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
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:
Land and buildings Leasehold
10% Straight line
Fixtures, fittings & equipment
10% straight line
1.6
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.7
Stock
Stock is valued at the lower of cost and net realisable value.
1.8
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.9
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.
CRAFTED MEDIA LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2016
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Investments
Total
£
£
£
£
Cost
At 1 September 2015
21,507
259,595
28,001
309,103
Additions
-
6,008
-
6,008
Disposals
-
(6,282)
(7,000)
(13,282)
At 31 August 2016
21,507
259,321
21,001
301,829
Depreciation
At 1 September 2015
21,507
45,984
-
67,491
On disposals
-
(1,050)
-
(1,050)
Charge for the year
-
33,595
-
33,595
At 31 August 2016
21,507
78,529
-
100,036
Net book value
At 31 August 2016
-
180,792
21,001
201,793
At 31 August 2015
-
213,611
28,001
241,612
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
Retailwide Limited
England
Ordinary
100.00
Participating interests
Return Loads LLP
England
21.00
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2016
2016
Principal activity
£
£
Retailwide Limited
Internet Retailing
14,684
15,396
Return Loads LLP
Hauliers Website
616
-
The Return Loads LLP Capital and Reserves are as at 31 March 2016 and their profit for the year ended 31 March 2016.
CRAFTED MEDIA LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2016
- 5 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
7,500 Ordinary A shares of £1 each
7,500
7,500
7,500 Ordinary B shares of £1 each
7,500
7,500
7,500 Ordinary C shares of £1 each
7,500
7,500
46,154
46,154