Frequency Media Ltd. - Accounts to registrar (filleted) - small 18.2
Frequency Media Ltd. - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2018 |
for |
Frequency Media Ltd. |
Frequency Media Ltd. (Registered number: 06361694) |
Contents of the Financial Statements |
for the Year Ended 31 December 2018 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Frequency Media Ltd. |
Company Information |
for the Year Ended 31 December 2018 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
First Floor |
Millennium House |
Victoria Road |
Douglas |
Isle of Man |
IM2 4RW |
Frequency Media Ltd. (Registered number: 06361694) |
Balance Sheet |
31 December 2018 |
2018 | 2017 |
Notes | $ | $ |
CURRENT ASSETS |
Debtors | 3 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 4 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 5 |
Retained earnings | 6 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors on by: |
Frequency Media Ltd. (Registered number: 06361694) |
Notes to the Financial Statements |
for the Year Ended 31 December 2018 |
1. | STATUTORY INFORMATION |
Frequency Media Ltd. is a |
registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Foreign currencies |
Assets and liabilities in foreign currencies, with the exception of share capital, are translated into United States |
dollars at the rates of exchange ruling at the Balance Sheet date. Share capital is translated at the historical rate. |
Transactions in foreign currencies are translated into United States dollars at the rate of exchange ruling at the |
date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Going concern |
The financial statements have been prepared on a going concern basis not withstanding the excess of liabilities |
over assets as the directors believe the shareholder will continue to make adequate funds available to enable the |
company to meet its liabilities as and when they fall due. The directors have no reason to believe that financial |
support will not continue in the future and considered it appropriate to adopt a going concern basis. The |
accounts do not contain any adjustments that would be necessary should this basis not be appropriate. |
3. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
$ | $ |
Prepayments |
Loan Pixl Entertainment LLC | 539,405 | 535,655 |
Called up share capital not paid |
The loans to Pixl Entertainment LLC are unsecured, bear interest at a rate of 0.75% per annum and are |
repayable on demand. |
4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
$ | $ |
Trade creditors |
Shareholder loan | 571,017 | 568,519 |
Accruals |
The loan from the shareholder is unsecured, interest-free and without a specified repayment date. |
Frequency Media Ltd. (Registered number: 06361694) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
5. | CALLED UP SHARE CAPITAL |
Allotted and issued: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | $ | $ |
Ordinary | £1 | 2 | 2 |
6. | RESERVES |
Retained |
earnings |
$ |
At 1 January 2018 | ( |
) |
Profit for the year |
At 31 December 2018 | ( |
) |
7. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
8. | POST BALANCE SHEET EVENTS |
The effect of events relating to the year ended 31 December 2018, which occurred before the date of approval of |
the financial statements by the directors, have been included to the extent required to show a true and fair view |
of the state of affairs at 31 December 2018 and of the results of the year ended on that date. |