Company Registration No. 10872547 (England and Wales)
ENTALE MEDIA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2021
PAGES FOR FILING WITH REGISTRAR
Level 1, Devonshire House
One Mayfair Place
London
United Kingdom
W1J 8AJ
ENTALE MEDIA LIMITED
CONTENTS
Page
Company information
1
Statement of financial position
2 - 3
Statement of changes in equity
4
Notes to the financial statements
5 - 9
ENTALE MEDIA LIMITED
COMPANY INFORMATION
- 1 -
Director
Mr. W Harris
Company number
10872547
Registered office
Founders Factory Ltd
Northcliffe House
Young Street
London
W8 5EH
Accountants
TC Group
Level 1, Devonshire House
One Mayfair Place
London
United Kingdom
W1J 8AJ
ENTALE MEDIA LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2021
31 March 2021
- 2 -
2021
2020
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
3
8,205
14,607
Current assets
Trade and other receivables
4
519,805
329,958
Cash and cash equivalents
197,319
798,937
717,124
1,128,895
Current liabilities
5
(269,054)
(231,559)
Net current assets
448,070
897,336
Total assets less current liabilities
456,275
911,943
Provisions for liabilities
(473)
(1,451)
Net assets
455,802
910,492
Equity
Called up share capital
6
225
224
Share premium account
2,217,174
2,208,177
Retained earnings
(1,761,597)
(1,297,909)
Total equity
455,802
910,492
The director of the company has elected not to include a copy of the income statement within the financial statements.
true
For the financial year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have 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.
ENTALE MEDIA LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2021
31 March 2021
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 5 May 2021 and are signed on its behalf by:
Mr. W Harris
Director
Company Registration No. 10872547
The notes on pages 5 to 9 form part of these financial statements
ENTALE MEDIA LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2021
- 4 -
Share capital
Share premium account
Retained earnings
Total
Notes
£
£
£
£
Balance at 1 April 2019
155
576,283
(612,748)
(36,310)
Year ended 31 March 2020:
Loss and total comprehensive income for the year
-
-
(685,161)
(685,161)
Issue of share capital
6
69
1,631,894
-
1,631,963
Balance at 31 March 2020
224
2,208,177
(1,297,909)
910,492
Year ended 31 March 2021:
Loss and total comprehensive income for the year
-
-
(463,688)
(463,688)
Issue of share capital
6
1
8,997
-
8,998
Balance at 31 March 2021
225
2,217,174
(1,761,597)
455,802
The notes on pages 5 to 9 form part of these financial statements
ENTALE MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
- 5 -
1
Accounting policies
Company information
Entale Media Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Founders Factory Ltd, Northcliffe House, Young Street, London, W8 5EH.
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.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Revenue
Revenue is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT
.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion
.
1.3
Property, plant and equipment
Property, plant and equipment
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:
Fixtures and fittings
33% Straight Line
Computers
33% Straight Line
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
Impairment of non-current assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
ENTALE MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
1
Accounting policies
(Continued)
- 6 -
1.5
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks
.
1.6
Equity instruments
Equity instruments issued by the company are recorded as proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
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 income statement 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.
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 income statement, 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.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
ENTALE MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
1
Accounting policies
(Continued)
- 7 -
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
1.11
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
11
9
ENTALE MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
- 8 -
3
Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 April 2020
27,407
Additions
1,699
At 31 March 2021
29,106
Depreciation and impairment
At 1 April 2020
12,800
Depreciation charged in the year
8,101
At 31 March 2021
20,901
Carrying amount
At 31 March 2021
8,205
At 31 March 2020
14,607
4
Trade and other receivables
2021
2020
Amounts falling due within one year:
£
£
Trade receivables
4,190
Corporation tax recoverable
219,187
172,616
Other receivables
6,344
15,711
225,531
192,517
2021
2020
Amounts falling due after more than one year:
£
£
Other receivables
294,274
137,441
Total debtors
519,805
329,958
ENTALE MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
- 9 -
5
Current liabilities
2021
2020
£
£
Trade payables
2,762
8,655
Taxation and social security
114,784
46,496
Other payables
151,508
176,408
269,054
231,559
6
Called up share capital
2021
2020
£
£
Ordinary share capital
Issued and not fully paid
160,732 (2020: 160,360) Ordinary shares of 0.1p each
161
160
Preference share capital
Issued and fully paid
64,299 'A' Preference shares of 0.1p each
64
64
Preference shares classified as equity
64
64
Total equity share capital
225
224
2021-03-31
2020-04-01
false
05 May 2021
CCH Software
CCH Accounts Production 2021.100
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