Company Registration No. 6879191 (England and Wales)
Fendix Media Limited
Unaudited accounts
for the year ended 31 March 2021
Fendix Media Limited
Company Information
for the year ended 31 March 2021
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
Accountants
Zest Partnership Limited
Friary Business Centre
18 Friary Road
Newark
Notts
NG24 1LE
Fendix Media Limited
Statement of financial position
as at
31 March 2021
Tangible assets
7,005
6,942
Cash at bank and in hand
161,391
120,648
Creditors: amounts falling due within one year
(2,536,291)
(2,274,806)
Net current liabilities
(1,663,439)
(1,393,037)
Total assets less current liabilities
(1,656,434)
(1,386,095)
Creditors: amounts falling due after more than one year
(50,000)
-
Net liabilities
(1,706,434)
(1,386,095)
Called up share capital
1,533
1,533
Share premium
2,781,252
2,781,252
Capital redemption reserve
399,600
399,600
Profit and loss account
(4,888,819)
(4,568,480)
Shareholders' funds
(1,706,434)
(1,386,095)
For the year ending 31 March 2021 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 14 November 2021 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 2021
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.
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 2021
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 April 2020
25,378
-
25,378
Additions
1,605
340
1,945
At 31 March 2021
26,983
340
27,323
At 1 April 2020
18,436
-
18,436
Charge for the year
1,882
-
1,882
At 31 March 2021
20,318
-
20,318
At 31 March 2021
6,665
340
7,005
At 31 March 2020
6,942
-
6,942
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
241,524
246,680
Deferred tax asset
205,000
205,000
Other debtors
264,937
309,441
6
Creditors: amounts falling due within one year
2021
2020
Trade creditors
118,856
152,166
Taxes and social security
214,295
193,972
Other creditors
2,203,140
1,928,668
Secured debts of £1,739,961 (2020: £1,592,347) 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
2021
2020
8
Share capital
2021
2020
Allotted, called up and fully paid:
1,532,575 Ordinary shares of £0.001 each
1,532.57
1,532.57
Fendix Media Limited
Notes to the Accounts
for the year ended 31 March 2021
9
Transactions with related parties
The company was charged consultancy fees by one of the directors of £48,000 (2020: £48,000).
Remuneration paid to the directors during the year was £175,000 (2020: £145,833).
At 31 March 2021, directors and owners that hold a participating interest in the shares of the company were owed £1,814,961 (2020 - £1,592,347).
10
Average number of employees
During the year the average number of employees was 9 (2020: 8).