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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED |
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31 AUGUST 2017 |
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FOR |
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WALPOLE MEDIA GROUP LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED |
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31 AUGUST 2017 |
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FOR |
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WALPOLE MEDIA GROUP LIMITED |
WALPOLE MEDIA GROUP LIMITED (REGISTERED NUMBER: 08884312) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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Company Information | 1 |
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Chartered Certified Accountants' Report | 2 |
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Statement of Financial Position | 3 |
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Notes to the Financial Statements | 5 |
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WALPOLE MEDIA GROUP LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
Abbey House |
51 High Street |
Saffron Walden |
Essex |
CB10 1AF |
CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
WALPOLE MEDIA GROUP LIMITED |
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The following reproduces the text of the report prepared for the directors in respect of the company's |
annual unaudited financial statements. In accordance with the Companies Act 2006, the company is |
only required to file a Statement of Financial Position. Readers are cautioned that the Income |
Statement and certain other primary statements and the Report of the Directors are not required to |
be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your |
approval the financial statements of Walpole Media Group Limited for the year ended 31 August 2017 |
which comprise the Income Statement, Statement of Financial Position and the related notes from the |
company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
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This report is made solely to the Board of Directors of Walpole Media Group Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Walpole Media Group Limited and state those matters that we have agreed to state to the Board of Directors of Walpole Media Group Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Walpole Media Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Walpole Media Group Limited. You consider that Walpole Media Group Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Walpole Media Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Certified Accountants |
Abbey House |
51 High Street |
Saffron Walden |
Essex |
CB10 1AF |
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WALPOLE MEDIA GROUP LIMITED (REGISTERED NUMBER: 08884312) |
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STATEMENT OF FINANCIAL POSITION |
31 AUGUST 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings | 10 | ( |
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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 |
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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. |
WALPOLE MEDIA GROUP LIMITED (REGISTERED NUMBER: 08884312) |
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STATEMENT OF FINANCIAL POSITION - continued |
31 AUGUST 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
behalf by: |
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WALPOLE MEDIA GROUP LIMITED (REGISTERED NUMBER: 08884312) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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1. | STATUTORY INFORMATION |
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Walpole Media Group Limited is a
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Wales. The company's 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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Plant and machinery etc | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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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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4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
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COST |
At 1 September 2016 |
and 31 August 2017 |
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DEPRECIATION |
At 1 September 2016 |
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Charge for year |
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At 31 August 2017 |
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NET BOOK VALUE |
At 31 August 2017 |
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At 31 August 2016 |
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WALPOLE MEDIA GROUP LIMITED (REGISTERED NUMBER: 08884312) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
At 1 September 2016 |
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Disposals | ( |
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At 31 August 2017 |
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NET BOOK VALUE |
At 31 August 2017 |
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At 31 August 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Prepayments and accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Social security and other taxes |
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VAT | 1,099 | 1,561 |
Other creditors |
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Accrued expenses |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
2017 | 2016 |
£ | £ |
Preference shares | 3,826,865 | 3,158,829 |
WALPOLE MEDIA GROUP LIMITED (REGISTERED NUMBER: 08884312) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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9. | 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 | 100 | 100 |
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10. | RESERVES |
Retained |
earnings |
£ |
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At 1 September 2016 | ( |
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Deficit for the year | ( |
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At 31 August 2017 | ( |
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11. | RELATED PARTY DISCLOSURES |
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At the year end the company owed £835,532 (2016 £533,706 ) to its subsidiary, Not Going to Uni |
Limited. This was the maximum amount outstanding and it remains due at the year end. |
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At the year end the company was owed £1,331,500 (2016 £932,590) by its subsidiary, Walpole |
Tracking Ltd. This was the maximum amount outstanding and it remains due at the year end. |
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During the year Walpole Publishing Limited was dissolved. The company was owed £134,250 at the |
start of the financial year. |
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During the year Walpole Digital Media Limited was dissolved. The company was owed £629,172 at |
the start of the financial year. |
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12. | POST BALANCE SHEET EVENTS |
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Following the year end the shares and business of Walpole Tracking Limited were sold and the loan |
outstanding at the year end was written off. |
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13. | ULTIMATE CONTROLLING PARTY |
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The controlling party is Dr Jerome Booth by virtue of his ownership of 100% of the issued share capital of the ultimate holding company, New Sparta Holdings Limited . |