Company Registration No. 11245254 (England and Wales)
AM MEDIA SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
PAGES FOR FILING WITH REGISTRAR
AM MEDIA SERVICES LIMITED
COMPANY INFORMATION
Director
Mr A I Mackay
(Appointed 9 March 2018)
Company number
11245254
Registered office
13 Cornflower Road
Moreton-In-Marsh
Gloucestershire
GL56 9PR
Accountants
Theataccounts Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
AM MEDIA SERVICES LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
AM MEDIA SERVICES LIMITED
ENTERTAINMENT ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF AM MEDIA SERVICES LIMITED FOR THE YEAR ENDED 31 MARCH 2019
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of AM Media Services Limited for the year ended 31 March 2019 which comprise, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
It is your duty to ensure that AM Media Services 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 profit of AM Media Services Limited. You consider that AM Media Services Limited is exempt from the statutory audit
requirement for the year.
Theataccounts Limited
11 September 2019
Entertainment Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
AM MEDIA SERVICES LIMITED
BALANCE SHEET
AS AT 31 MARCH 2019
31 March 2019
- 2 -
2019
Notes
£
£
Fixed assets
Tangible assets
3
1,668
Current assets
Debtors
4
6,095
Cash at bank and in hand
10,851
16,946
Creditors: amounts falling due within one year
5
(18,493)
Net current liabilities
(1,547)
Total assets less current liabilities
121
Capital and reserves
Called up share capital
6
100
Profit and loss reserves
21
Total equity
121
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and signed by the director and authorised for issue on 11 September 2019
Mr A I Mackay
Director
Company Registration No. 11245254
AM MEDIA SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
- 3 -
1
Accounting policies
Company information
AM Media Services Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
13 Cornflower Road, Moreton-In-Marsh, Gloucestershire, GL56 9PR.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of services is recognised by reference to the stage of completion
and
whe
re
the
amount of revenue can be measured reliably.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
33% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
AM MEDIA SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.5
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1.
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 9 March 2018
-
Additions
2,490
At 31 March 2019
2,490
Depreciation and impairment
At 9 March 2018
-
Depreciation charged in the year
822
At 31 March 2019
822
Carrying amount
At 31 March 2019
1,668
AM MEDIA SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
- 5 -
4
Debtors
2019
Amounts falling due within one year:
£
Trade debtors
6,095
5
Creditors: amounts falling due within one year
2019
£
Corporation tax
9,114
Other creditors
9,379
18,493
6
Called up share capital
2019
£
Ordinary share capital
Issued and fully paid
100 Ordinary A of £1 each
100
100 Ordinary shares of £1 were allotted and fully paid for cash at par during the year.