FREER_MEDIA_HOLDINGS_LIMI - Accounts

FREER MEDIA HOLDINGS LIMITED - Company Information

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Company Registration No. SC498820 (Scotland)

FREER MEDIA HOLDINGS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2016

FREER MEDIA HOLDINGS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

FREER MEDIA HOLDINGS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

Notes

Fixed assets

Intangible assets

8,000

Tangible assets

781

8,781

Current assets

Debtors

13,000

Cash at bank and in hand

4,315

17,315

Creditors: amounts falling due within one year

(25,770)

Net current liabilities

(8,455)

Total assets less current liabilities

326

Provisions for liabilities

(141)

185

Capital and reserves

Called up share capital

100

Profit and loss account

Shareholders' funds

185

For the financial period ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 1 September 2016

Mr N Freer

Director

Company Registration No. SC498820

FREER MEDIA HOLDINGS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for services rendered net of VAT.rendered net of VAT.

1.4

Goodwill

Acquired goodwill relating to the acquisition of a business in April 2015 is written off in equal annual instalments over its estimated useful economic life of five years.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% straight line

1.6

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date.

A net deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits against which to recover carried forward tax losses and from which the future reversal of underlying timing differences can be deducted.

Deferred tax is measured at the average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.

FREER MEDIA HOLDINGS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 31 MARCH 2016

- 3 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 24 February 2015

Additions

10,000

1,042

11,042

At 31 March 2016

10,000

1,042

11,042

Depreciation

At 24 February 2015

Charge for the period

2,000

261

2,261

At 31 March 2016

2,000

261

2,261

Net book value

At 31 March 2016

8,000

781

8,781

Share capital

2016

Allotted, called up and fully paid

100 Ordinary of £1 each

100

During the period 100 ordinary shares of £1 each were allotted and fully paid at par.

Transactions with directors

Included in other creditors is the sum of £72 due to Mr N Freer, director of the company. No interest is charged on the balance and there are no fixed terms for repayment.