Propel New Media Ltd - Limited company accounts 11.7

REGISTERED NUMBER: 03750320 (England and Wales)

Report of the Director and

Financial Statements

for the Year Ended

30 April 2015

for

Propel New Media Ltd

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

W C Boyd

SECRETARY:

Ascot Drummond Secretarial Limited

REGISTERED OFFICE:

197 Mount Pleasant Road

Shrewsbury

SY1 3JA

REGISTERED NUMBER:

03750320 (England and Wales)

ACCOUNTANTS:

Ascot Drummond

Suite 12

River Court

5 West Victoria Dock Road

Dundee

DD1 3JT

The director presents his report with the financial statements of the company for the year ended 30 April 2015.

DIRECTOR

W C Boyd held office during the whole of the period from 1 May 2014 to the date of this report.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating

to small companies.

ON BEHALF OF THE BOARD:

W C Boyd - Director

1 December 2015

TURNOVER

18,207

18,850

Administrative expenses

17,113

5,720

1,094

13,130

Other operating income

3

-

OPERATING PROFIT

2

1,097

13,130

Interest payable and similar charges

29

-

PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION

1,068

13,130

Tax on profit on ordinary activities

3

214

705

PROFIT FOR THE FINANCIAL YEAR

854

12,425

FIXED ASSETS

Tangible assets

5

1

CURRENT ASSETS

Cash at bank

4,973

12,851

CREDITORS

Amounts falling due within one year

6

4,737

10,009

NET CURRENT ASSETS

236

2,842

TOTAL ASSETS LESS CURRENT
LIABILITIES

237

2,843

CAPITAL AND RESERVES

Called up share capital

7

2

Profit and loss account

8

235

2,841

SHAREHOLDERS' FUNDS

237

2,843

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the director on 1 December 2015 and were signed by:

W C Boyd - Director

1.	ACCOUNTING POLICIES

Accounting convention

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 services, excluding value added tax.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost

Deferred tax

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

sheet date.

2.	OPERATING PROFIT

The operating profit is stated after charging:

30.4.15

30.4.14

£

Foreign exchange differences

770

-

Director's remuneration and other benefits etc

-

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

30.4.15

30.4.14

£

Current tax:

UK corporation tax

214

705

Tax on profit on ordinary activities

214

705

4.

DIVIDENDS

30.4.15

30.4.14

£

Ordinary shares of 1 each

Final

3,460

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2014

and 30 April 2015

4,557

DEPRECIATION

At 1 May 2014

and 30 April 2015

4,556

NET BOOK VALUE

At 30 April 2015

1

At 30 April 2014

1

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.15

30.4.14

£

Bank loans and overdrafts

106

-

Trade creditors

-

2,556

Taxation and social security

214

1,389

Other creditors

4,417

6,064

4,737

10,009

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.15

30.4.14

value:

£

2

Ordinary

1

2

8.

RESERVES

Profit

and loss

account

£

At 1 May 2014

2,841

Profit for the year

854

Dividends

(3,460

)

At 30 April 2015

235