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Abbreviated Unaudited Accounts for the Year Ended 31 December 2015 |
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Equal Media Ltd |
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Abbreviated Unaudited Accounts for the Year Ended 31 December 2015 |
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for |
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Equal Media Ltd |
Equal Media Ltd (Registered number: 06254427) |
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Contents of the Abbreviated Accounts |
for the Year Ended 31 December 2015 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
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Chartered Accountants' Report | 7 |
Equal Media Ltd |
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Company Information |
for the Year Ended 31 December 2015 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Equal Media Ltd (Registered number: 06254427) |
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Abbreviated Balance Sheet |
31 December 2015 |
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2015 | 2014 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
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Tangible assets | 3 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Share premium |
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Retained earnings | ( |
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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 |
(b) |
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. |
Equal Media Ltd (Registered number: 06254427) |
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Abbreviated Balance Sheet - continued |
31 December 2015 |
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The financial statements were approved by the Board of Directors on
behalf by: |
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Equal Media Ltd (Registered number: 06254427) |
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Notes to the Abbreviated Accounts |
for the Year Ended 31 December 2015 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
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Intangible assets |
Costs of £252,699 in relation to the building of a website have been capitalised and are being |
amortised annually at a rate of 25% on cost. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Deferred tax |
Deferred tax is recognised in respect of all material timing differences that have originated but not |
reversed at the balance sheet date. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the |
period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to profit or loss in the period to which they relate. |
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2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 January 2015 |
and 31 December 2015 |
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AMORTISATION |
At 1 January 2015 |
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Amortisation for year |
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At 31 December 2015 |
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NET BOOK VALUE |
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At 31 December 2015 |
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At 31 December 2014 |
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Equal Media Ltd (Registered number: 06254427) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 December 2015 |
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3. | TANGIBLE FIXED ASSETS |
Total |
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COST |
At 1 January 2015 |
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Disposals | ( |
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At 31 December 2015 |
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DEPRECIATION |
At 1 January 2015 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 December 2015 |
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NET BOOK VALUE |
At 31 December 2015 |
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At 31 December 2014 |
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Equal Media Ltd (Registered number: 06254427) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 December 2015 |
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4. | CALLED UP SHARE CAPITAL |
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8a. Share Capital |
Nominal | 2015 | 2015 | 2014 | 2014 |
Value | Number | £ | Number | £ |
Allotted, Called Up & Fully
Paid: |
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Ordinary | 0.0001 | 6,226,498 | 623 | 5,758,902 | 576 |
Ordinary Voting | 0.000001 | 4,800,000 | 5 | 4,800,000 | 5 |
Ordinary Capital | 0.000099 | 4,800,000 | 475 | 4,800,000 | 475 |
Series 1 Preferred Ordinary | 0.0001 | 2,541,004 | 254 | 2,541,004 | 254 |
Series 2 Preferred Ordinary | 0.0001 | 4,191,802 | 419 | 4,191,802 | 419 |
Share Capital | 22,559,304 | 1,776 | 22,091,708 | 1,729 |
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Shares Allotted During the
Year: |
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Ordinary | 0.0001 | 467,596 | 47 | 252,080 | 26 |
Series 2 Preferred Ordinary | 0.0001 | 64,363 | 6 |
467,596 | 47 | 316,443 | 32 |
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Share Premium | 8,977,344 | 8,963,482 |
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8b. Share Options |
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During the year ended 31 December 2015 409,330 (2014: 544,105) options over Ordinary shares of |
0.0001p were issued to 4 employees (2014: 18) with a strike price of 0.12p (2014: 0.12p). The |
options vest over a four year period and lapse after 10 years. A total of 671,474 options have lapsed |
up to 31 December 2015 leaving 697,224 options in existence at the year end |
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8c. Share Warrants |
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At the year end there were 221,415 (2014: 314,415) warrants over Ordinary shares of 0.0001p, |
granted to four parties, and 100,632 (2014: 100,632) warrants over Series 2 Preferred Ordinary |
shares of 0.0001p, granted to one party. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Equal Media Ltd |
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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, from which the unaudited abbreviated accounts (set out on |
pages two to six) have been prepared. |
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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 Equal Media Ltd for the year ended 31 December 2015 which |
comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in |
Equity, Cash Flow Statement 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
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This report is made solely to the Board of Directors of Equal Media Ltd, 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 Equal Media Ltd and state those matters that we have agreed to state to the Board of Directors of Equal Media Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. 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 Equal Media Ltd 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 Equal Media Ltd. You consider that Equal Media Ltd 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 Equal Media |
Ltd. 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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Date: ............................................. |