Company Registration No. 6879191 (England and Wales)
Fendix Media Limited
Unaudited accounts
for the year ended 31 March 2020
Fendix Media Limited
Unaudited accounts
Contents
Fendix Media Limited
Company Information
for the year ended 31 March 2020
Directors
J E L Beddoes
A A Murray
S P Thornton
M Bailey
Company Number
6879191 (England and Wales)
Registered Office
Sussex Innovation Centre
Science Park Square
Falmer
Brighton
BN1 9SB
England
Accountants
Zest Partnership Limited
59 Balderton Gate
Newark
Notts
NG24 1UN
Fendix Media Limited
Statement of financial position
as at
31 March 2020
Tangible assets
6,942
6,403
Cash at bank and in hand
120,648
42,283
Creditors: amounts falling due within one year
(2,274,806)
(1,462,665)
Net current liabilities
(1,393,037)
(841,195)
Total assets less current liabilities
(1,386,095)
(834,792)
Creditors: amounts falling due after more than one year
-
(749,997)
Net liabilities
(1,386,095)
(1,584,789)
Called up share capital
1,533
1,203
Share premium
2,781,252
2,031,585
Capital redemption reserve
399,600
399,600
Profit and loss account
(4,568,480)
(4,017,177)
Shareholders' funds
(1,386,095)
(1,584,789)
For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 June 2020 and were signed on its behalf by
S P Thornton
Director
Company Registration No. 6879191
Fendix Media Limited
Notes to the Accounts
for the year ended 31 March 2020
Fendix Media Limited is a private company, limited by shares, registered in England and Wales, registration number 6879191. The registered office is Sussex Innovation Centre, Science Park Square, Falmer, Brighton, BN1 9SB, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Whilst the company has financial losses during the current and previous year, the company has positive cash flows and continues to have ongoing support from shareholders and investors. The company is therefore considered to be a going concern.
Fendix Media Limited
Notes to the Accounts
for the year ended 31 March 2020
4
Tangible fixed assets
Plant & machinery
Cost or valuation
At cost
Charge for the year
2,015
Trade debtors
246,680
125,919
Deferred tax asset
205,000
205,000
Other debtors
309,441
248,268
6
Creditors: amounts falling due within one year
2020
2019
Trade creditors
152,166
157,010
Taxes and social security
193,972
62,133
Other creditors
1,928,668
1,243,522
Secured debts of £1,592,347 (2019: £1,604,344) are included in other creditors. There are fixed and floating charges over all property and undertaking of the company held by S P Thornton.
7
Creditors: amounts falling due after more than one year
2020
2019
Other creditors
-
749,997
8
Share capital
2020
2019
Allotted, called up and fully paid:
1,532,575 Ordinary shares of £0.001 each
1,532.57
1,202.61
Shares issued during the period:
329,960 Ordinary shares of £0.001 each
329.96
Fendix Media Limited
Notes to the Accounts
for the year ended 31 March 2020
9
Transactions with related parties
The company was charged consultancy fees by one of the directors of £48,000 (2019: £48,000).
Remuneration paid to the directors during the year was £145,833 (2018: £42,148).
At 31 March 2019, directors and owners that hold a participating interest in the shares of the company were owed £1,592,347 (2018 - £850,000).
10
Average number of employees
During the year the average number of employees was 8 (2019: 14).