Quay2 Media Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05897138 (England and Wales)

Quay2 Media Limited

Abbreviated Unaudited Accounts

for the Period 1 September 2014 to 30 April 2015

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mrs. A Brindle

REGISTERED OFFICE:

4a Union Quay

North Shields

NE30 1HJ

REGISTERED NUMBER:

05897138 (England and Wales)

ACCOUNTANTS:

Blu Sky Chartered Accountants

17 Northumberland Square

North Shields

NE30 1PX

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Quay2 Media Limited for the period ended 30 April 2015 which comprise the Profit and Loss

Account, the Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the director of Quay2 Media Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Quay2 Media Limited and state those matters that we have agreed to state to the director of Quay2 Media Limited in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Quay2 Media Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Quay2 Media Limited. You consider that Quay2 Media Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Quay2 Media Limited. For

this reason, we have not verified the accuracy or completeness of the accounting records or information and

explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Blu Sky Chartered Accountants

17 Northumberland Square

North Shields

NE30 1PX

6 August 2015

FIXED ASSETS

Tangible assets

2

-

2,945

CURRENT ASSETS

Debtors

3

-

15,682

Cash at bank and in hand

4,174

24,022

4,174

39,704

CREDITORS

Amounts falling due within one year

8,447

34,097

NET CURRENT (LIABILITIES)/ASSETS

(4,273

)

5,607

TOTAL ASSETS LESS CURRENT LIABILITIES

(4,273

)

8,552

CREDITORS

Amounts falling due after more than one year

9,251

1,453

NET (LIABILITIES)/ASSETS

(13,524

)

7,099

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

(13,624

)

6,999

SHAREHOLDERS' FUNDS

(13,524

)

7,099

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2015.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 6 August 2015 and were signed by:

Mrs. A Brindle - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention, and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

The turnover shown in the profit and loss account represents amounts invoiced during the period, exclusive of

Value Added Tax.

Turnover is recognised when goods and services are physically delivered to the customer.

Delivered goods/ services not invoiced at the year end are included in accrued income. Invoiced goods and

services are included in debtors. Where customers pay in advance for goods and services, the amount is

recorded as deferred income until the goods and services have been delivered.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

20% on cost

All fixed assets are initially recorded at the lower of cost and net realisable value, less accumulated depreciation

and less amounts recognised in respect of impairment.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets

of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar

debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented

as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the

profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the

outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability

then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are

debited direct to equity.

Compound instruments

Compound instruments comprise both a liability and an equity component. At date of issue, the fair value of the

liability component is estimated using the prevailing market interest rate for a similar debt instrument. The liability

component is accounted for as a financial liability.

The residual is the difference between the net proceeds of issue and the liability component (at time of issue).

The residual is the equity component, which is accounted for as an equity instrument.

The interest expense on the liability component is calculated applying the effective interest rate for the liability

component of the instrument. The difference between this amount and any repayments is added to the carrying

amount of the liability in the balance sheet.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2014

22,872

Disposals

(4,700

)

At 30 April 2015

18,172

DEPRECIATION

At 1 September 2014

19,927

Charge for period

627

Eliminated on disposal

(2,382

)

At 30 April 2015

18,172

NET BOOK VALUE

At 30 April 2015

-

At 31 August 2014

2,945

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

1

100

100