Juice Moving Images Limited - Period Ending 2016-02-29

Registration number: 06400316

Juice Moving Images Limited

Unaudited Abbreviated Accounts

for the Year Ended 29 February 2016
 

Juice Moving Images Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Juice Moving Images Limited
for the Year Ended 29 February 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Juice Moving Images Limited for the year ended 29 February 2016 set out on pages 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 Board of Directors of Juice Moving Images Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Juice Moving Images Limited and state those matters that we have agreed to state to them, as a body, 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 Juice Moving Images Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Juice Moving Images Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Juice Moving Images Limited. You consider that Juice Moving Images Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Juice Moving Images 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 accounts.

......................................

Morgan Cameron Limited
Chartered Accountants
9 Thorney Leys Park
Witney
Oxfordshire
OX28 4GE

4 October 2016

Page 1

Juice Moving Images Limited
(Registration number: 06400316)
Abbreviated Balance Sheet at 29 February 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			133,083			90,175
Current assets
Debtors					772,041			1,087,564
Cash at bank and in hand					788,917			519,694
					1,560,958			1,607,258
Creditors: Amounts falling due within one year					(1,190,031)			(1,185,637)
Net current assets					370,927			421,621
Total assets less current liabilities					504,010			511,796
Provisions for liabilities					(24,989)			(15,807)
Net assets					479,021			495,989
Capital and reserves
Called up share capital		3			1,002			1,002
Profit and loss account					478,019			494,987
Shareholders' funds					479,021			495,989

For the year ending 29 February 2016 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 4 October 2016 and signed on its behalf by:

......................................... A D Poole Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Juice Moving Images Limited
Notes to the Abbreviated Accounts for the Year Ended 29 February 2016
......... 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 January 2015).

Turnover

Turnover represents amounts chargeable for the period, 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

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

Asset class	Amortisation method and rate
Goodwill	straight line, over 7 years

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
Office equipment	25% straight line
Motor vehicles	25% straight line
Fixtures and fittings	25% straight line

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the 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.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

Juice Moving Images Limited
Notes to the Abbreviated Accounts for the Year Ended 29 February 2016
......... continued

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 March 2015		181,131			178,551			359,682
Additions		-			92,402			92,402
Disposals		-			(33,973)			(33,973)
At 29 February 2016		181,131			236,980			418,111
Depreciation
At 1 March 2015		181,131			88,376			269,507
Charge for the year		-			41,334			41,334
Eliminated on disposals		-			(25,813)			(25,813)
At 29 February 2016		181,131			103,897			285,028
Net book value
At 29 February 2016		-			133,083			133,083
At 28 February 2015		-			90,175			90,175

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £0.01 each		100,000			1,000			100,000			1,000
Ordinary B shares of £0.01 each		200			2			200			2
		100,200			1,002			100,200			1,002

Page 4