ACS Media Limited - Period Ending 2013-12-31

Registration number: 02868672

ACS Media Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2013
 

ACS Media Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

ACS Media Limited
(Registration number: 02868672)
Abbreviated Balance Sheet at 31 December 2013

		Note			2013 £			2012 £
Fixed assets
Tangible fixed assets		2			642			887
Current assets
Stocks					5,000			5,000
Debtors					145,334			120,284
Cash at bank and in hand					18,214			26,936
					168,548			152,220
Creditors: Amounts falling due within one year					(37,636)			(49,497)
Net current assets					130,912			102,723
Total assets less current liabilities					131,554			103,610
Capital and reserves
Called up share capital		3			4			4
Profit and loss account					131,550			103,606
Shareholders' funds					131,554			103,610

For the year ending 31 December 2013 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 25 September 2014 and signed on its behalf by:

.........................................
Mr PM Craik
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

ACS Media Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Web site costs are capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life.

Asset class	Amortisation method and rate
Web site	20% straight line basis

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Motor vehicles	20% straight line basis
Plant and machinery	15% straight line basis
Fixtures and fittings	15% straight line basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accouting purposes, which have arisen but not reversed by the balance sheet date, except as required by FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

ACS Media Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 January 2013		66,585			70,598			137,183
At 31 December 2013		66,585			70,598			137,183
Depreciation
At 1 January 2013		66,585			69,711			136,296
Charge for the year		-			245			245
At 31 December 2013		66,585			69,956			136,541
Net book value
At 31 December 2013		-			642			642
At 31 December 2012		-			887			887

3	Share capital

Allotted, called up and fully paid shares

	2013						2012
		No.			£			No.			£
Ordinary of £1 each		4			4			4			4

4

Control

The company is controlled by the directors who own 100% of the share capital.

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