Creative Media Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03816049 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2019

for

Creative Media Management Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J Fincham

SECRETARY:

J Fincham

REGISTERED OFFICE:

61 St Dunstans Road

London

W7 2EY

REGISTERED NUMBER:

03816049 (England and Wales)

ACCOUNTANTS:

A H & Co Ltd

Chartered Accountants

6 Logie Mill

Edinburgh

Lothian

EH7 4HG

FIXED ASSETS

Tangible assets

4

9,252

12,511

CURRENT ASSETS

Debtors

5

13,168

20,787

Cash at bank and in hand

163,252

178,614

176,420

199,401

CREDITORS

Amounts falling due within one year

6

124,597

141,352

NET CURRENT ASSETS

51,823

58,049

TOTAL ASSETS LESS CURRENT LIABILITIES

61,075

70,560

PROVISIONS FOR LIABILITIES

7

1,573

2,126

NET ASSETS

59,502

68,434

CAPITAL AND RESERVES

Called up share capital

8

96

96

Retained earnings

9

59,406

68,338

SHAREHOLDERS' FUNDS

59,502

68,434

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 29 January 2020 and were signed by:

J Fincham - Director

1.	STATUTORY INFORMATION

Creative Media Management Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are

considered to have been transferred to the buyer. Turnover from the supply of services represent the value of

services provided under contracts to the extent that there is a right to consideration and is recorded at fair value

of the consideration received or receivable. Where a contract has only been partially completed at the balance

sheet date turnover represents the fair value of the service provided to date based on the stage of completion of

the contract activity at the balance sheet date. Where payments are received from customers in advance of

services provided, the amounts are recorded as deferred income and included as part of creditors due within one

year.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is

provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of

each asset on a straight-line basis over its expected useful life, as follows:

Short Leasehold

-

Over the term of the lease

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Residual value represents the estimated amount which would currently be obtained from disposal of an asset,

after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at

the end of its useful life.

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance

sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is

estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an

impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the

impairment loss is a revaluation decrease.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial

instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured

at their settlement value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or

directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past

event, it is probable that the company will be required to settle that obligation and a reliable estimate can be

made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present

obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2018 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 May 2018

14,888

15,546

21,645

52,079

Additions

-

-

1,908

1,908

At 30 April 2019

14,888

15,546

23,553

53,987

DEPRECIATION

At 1 May 2018

14,888

9,422

15,258

39,568

Charge for year

-

1,922

3,245

5,167

At 30 April 2019

14,888

11,344

18,503

44,735

NET BOOK VALUE

At 30 April 2019

-

4,202

5,050

9,252

At 30 April 2018

-

6,124

6,387

12,511

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Other debtors

13,168

20,787

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Trade creditors

582

68

Taxation and social security

39,664

35,761

Other creditors

84,351

105,523

124,597

141,352

7.	PROVISIONS FOR LIABILITIES

30.4.19

30.4.18

£

£

Deferred tax

1,573

2,126

Deferred

tax

£

Balance at 1 May 2018

2,126

Provided during year

(553

)

Balance at 30 April 2019

1,573

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.19

30.4.18

value:

£

£

77

Ordinary

£1

77

77

15

A Ordinary

£1

15

15

4

B Ordinary

£1

4

4

96

96

9.

RESERVES

Retained

earnings

£

At 1 May 2018

68,338

Profit for the year

109,568

Dividends

(118,500

)

At 30 April 2019

59,406

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at 30 April 2019 the company owed the director £24,633 (2018: £102).

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £118,500 (2018 - £90,000) were paid to the director .

12.	ULTIMATE CONTROLLING PARTY

The controlling party is J Fincham.