Caseware UK (AP4) 2016.0.181 2016.0.181 2018-06-302018-06-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseNo description of principal activityfalse2017-07-01 SC248807 2017-07-01 2018-06-30 SC248807 2016-07-01 2017-06-30 SC248807 2018-06-30 SC248807 2017-06-30 SC248807 c:Director1 2017-07-01 2018-06-30 SC248807 c:Director2 2017-07-01 2018-06-30 SC248807 d:OfficeEquipment 2017-07-01 2018-06-30 SC248807 d:OfficeEquipment 2018-06-30 SC248807 d:OfficeEquipment 2017-06-30 SC248807 d:OfficeEquipment d:OwnedOrFreeholdAssets 2017-07-01 2018-06-30 SC248807 d:CurrentFinancialInstruments 2018-06-30 SC248807 d:CurrentFinancialInstruments 2017-06-30 SC248807 d:CurrentFinancialInstruments d:WithinOneYear 2018-06-30 SC248807 d:CurrentFinancialInstruments d:WithinOneYear 2017-06-30 SC248807 d:ShareCapital 2018-06-30 SC248807 d:ShareCapital 2017-06-30 SC248807 d:CapitalRedemptionReserve 2018-06-30 SC248807 d:CapitalRedemptionReserve 2017-06-30 SC248807 d:RetainedEarningsAccumulatedLosses 2018-06-30 SC248807 d:RetainedEarningsAccumulatedLosses 2017-06-30 SC248807 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2018-06-30 SC248807 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2017-06-30 SC248807 d:AcceleratedTaxDepreciationDeferredTax 2018-06-30 SC248807 d:AcceleratedTaxDepreciationDeferredTax 2017-06-30 SC248807 c:FRS102 2017-07-01 2018-06-30 SC248807 c:AuditExempt-NoAccountantsReport 2017-07-01 2018-06-30 SC248807 c:FullAccounts 2017-07-01 2018-06-30 SC248807 c:PrivateLimitedCompanyLtd 2017-07-01 2018-06-30 iso4217:GBP xbrli:pure

Registered number: SC248807









ABBEYMOUNT MEDIA LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2018

 
ABBEYMOUNT MEDIA LIMITED
REGISTERED NUMBER: SC248807

BALANCE SHEET
AS AT 30 JUNE 2018

2018
2017
Note
£
£

Fixed assets
  

Tangible assets
 4 
23,369
26,490

  
23,369
26,490

Current assets
  

Debtors: amounts falling due within one year
 5 
136,984
119,401

Cash at bank and in hand
 6 
199,971
196,160

  
336,955
315,561

Creditors: amounts falling due within one year
 7 
(112,444)
(119,004)

Net current assets
  
 
 
224,511
 
 
196,557

Total assets less current liabilities
  
247,880
223,047

Provisions for liabilities
  

Deferred tax
 9 
(3,995)
(5,043)

  
 
 
(3,995)
 
 
(5,043)

Net assets
  
243,885
218,004


Capital and reserves
  

Called up share capital 
  
20
20

Capital redemption reserve
  
10
10

Profit and loss account
  
243,855
217,974

  
243,885
218,004


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
ABBEYMOUNT MEDIA LIMITED
REGISTERED NUMBER: SC248807
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2018

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 November 2018.



R P Notarangelo
S Douglas
Director
Director
The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
ABBEYMOUNT MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018

1.


General information

The company operates in the media industry.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
ABBEYMOUNT MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and loss account.

 
2.4

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Financial instruments

 
2.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

Page 4

 
ABBEYMOUNT MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018

2.Accounting policies (continued)

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 
ABBEYMOUNT MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018

3.


Employees

Staff costs, including directors' remuneration, were as follows:


The average monthly number of employees, including directors, during the year was 19 (2017 - 19).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 July 2017
167,864


Additions
7,005


Disposals
(3,260)



At 30 June 2018

171,609



Depreciation


At 1 July 2017
141,375


Charge for the year on owned assets
8,374


Disposals
(1,508)



At 30 June 2018

148,241



Net book value



At 30 June 2018
23,368



At 30 June 2017
26,490


5.


Debtors

2018
2017
£
£


Trade debtors
132,955
119,401

Other debtors
4,029
-

136,984
119,401


Page 6

 
ABBEYMOUNT MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018

6.


Cash and cash equivalents

2018
2017
£
£

Cash at bank and in hand
199,971
196,160

199,971
196,160



7.


Creditors: Amounts falling due within one year

2018
2017
£
£

Trade creditors
16,466
20,117

Corporation tax
29,722
29,826

Other taxation and social security
60,989
54,735

Other creditors
5,267
14,326

112,444
119,004



8.


Financial instruments

2018
2017
£
£

Financial assets


Financial assets measured at fair value through profit or loss
199,971
196,160

199,971
196,160





Financial assets measured at fair value through profit or loss comprise...

Page 7

 
ABBEYMOUNT MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018

9.


Deferred taxation




2018


£






At beginning of year
(5,043)


Charged to profit or loss
1,049



At end of year
(3,994)

The provision for deferred taxation is made up as follows:

2018
2017
£
£


Accelerated capital allowances
(3,994)
(5,043)

(3,994)
(5,043)


10.


Pension commitments

 
Page 8