Anagram Media Limited Filleted accounts for Companies House (small and micro)

ANAGRAM MEDIA LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08822106

Anagram Media Limited

Filleted Unaudited Financial Statements

31 December 2020

Anagram Media Limited

Balance Sheet

31 December 2020

	2020		2019
Note	£	£	£

Fixed assets

Tangible assets	6		452	677

Current assets

Debtors	7	–	900
Cash at bank and in hand		48,987	40,195
		--------	--------
		48,987	41,095

Creditors: amounts falling due within one year	8	( 3,951)		( 5,863)
		--------		--------
Net current assets			45,036	35,232
			--------	--------
Total assets less current liabilities			45,488	35,909

Provisions

Taxation including deferred tax	( 86)	( 129)
	--------	--------
Net assets	45,402	35,780
	--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	45,302	35,680
	--------	--------
Shareholders funds	45,402	35,780
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Anagram Media Limited

Balance Sheet (continued)

31 December 2020

These financial statements were approved by the board of directors and authorised for issue on 10 May 2021 , and are signed on behalf of the board by:

Mr G R Mitchell
Director

Company registration number: 08822106

Anagram Media Limited

Notes to the Financial Statements

Year ended 31 December 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Devonshire House, 582 Honeypot Lane, Stanmore, Middlesex, HA7 1JS.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no significant judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

Revenue recognition

The turnover shown in the profit and loss account represents fee income receivable for the period.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	25% straight line

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term 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.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

4. Employee numbers

During the year the company had 1 employee (2019: 1) including the director.

5. Tax on profit

Major components of tax expense

	2020	2019
	£	£

Current tax:

UK current tax expense	2,300	4,994

Deferred tax:

Origination and reversal of timing differences	( 43)	129
	-------	-------
Tax on profit	2,257	5,123
	-------	-------

6. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 January 2020 and 31 December 2020	2,741	2,741
	-------	-------
Depreciation
At 1 January 2020	2,064	2,064
Charge for the year	225	225
	-------	-------
At 31 December 2020	2,289	2,289
	-------	-------
Carrying amount
At 31 December 2020	452	452
	-------	-------
At 31 December 2019	677	677
	-------	-------

7. Debtors

	2020	2019
	£	£
Director's loan account	–	900
	----	----

8. Creditors: amounts falling due within one year

	2020	2019
	£	£
Bank loans and overdrafts	71	–
Accruals and deferred income	960	870
Corporation tax	2,301	4,993
Director loan accounts	619	–
	-------	-------
	3,951	5,863
	-------	-------

9. Deferred tax

The deferred tax included in the balance sheet is as follows:

	2020	2019
	£	£
Included in provisions	86	129
	----	----

The deferred tax account consists of the tax effect of timing differences in respect of:

	2020	2019
	£	£
Accelerated capital allowances	86	129
	----	----

10. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2020
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr G R Mitchell	900	( 619)	( 900)	( 619)
	----	----	----	----

	2019
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr G R Mitchell	( 1,048)	( 2,605)	4,553	900
	-------	-------	-------	----