Swan Media Productions Limited Small abbreviated accounts

Swan Media Productions Limited Small abbreviated accounts


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COMPANY REGISTRATION NUMBER 06518220
SWAN MEDIA PRODUCTIONS LIMITED
ABBREVIATED ACCOUNTS
31 March 2016
McKELVIE & CO LLP
Chartered Accountants
82 Wandsworth Bridge Road
London
UK
SW6 2TF
SWAN MEDIA PRODUCTIONS LIMITED
ABBREVIATED BALANCE SHEET
31 March 2016
2016
2015
Note
£
£
£
£
FIXED ASSETS
2
Tangible assets
8,041
7,518
CURRENT ASSETS
Debtors
79,989
94,567
Cash at bank and in hand
77,058
99,663
----------
----------
157,047
194,230
CREDITORS: Amounts falling due within one year
91,988
111,419
----------
----------
NET CURRENT ASSETS
65,059
82,811
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
73,100
90,329
---------
---------
CAPITAL AND RESERVES
Called up equity share capital
3
1,100
1,100
Profit and loss account
72,000
89,229
---------
---------
SHAREHOLDERS' FUNDS
73,100
90,329
---------
---------
For the year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.
These abbreviated accounts were approved and signed by the director and authorised for issue on 28 November 2016 .
D Freeman Director
Company Registration Number: 06518220
SWAN MEDIA PRODUCTIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
YEAR ENDED 31 MARCH 2016
1. ACCOUNTING POLICIES
Basis of accounting
The financial statements 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 the value of services provided during the year net of value added tax.
Fixed assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings-25% reducing balance
Equipment-25% reducing balance
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company.
Current service costs, past service costs and gains and losses on settlements and curtailments are charged to the profit and loss account. Past service costs are recognised over the vesting period or immediately if the benefits have vested. When a settlement (eliminating all obligations for benefits already accrued) or a curtailment (reducing future obligations as a result of a material reduction in the scheme membership or a reduction in future entitlement) occurs, the obligation and related plan assets are re-measured using current actuarial assumptions and the resultant gain or loss is recognised in the profit and loss account during the period in which the settlement or curtailment occurs.
The interest cost and the expected return on assets are shown as a net amount in the profit and loss account as other finance costs or income. Actuarial gains and losses are recognised immediately in the statement of total recognised gains and losses.
Pension scheme assets are valued at fair value at the balance sheet date. Fair value is based on market price information and in the case of quoted securities is the published bid price. Pension scheme liabilities are measured on an actuarial basis using the projected unit method and are discounted to their present value using a rate equivalent to the current rate of return on a high quality corporate bond of equivalent currency and term to the scheme liabilities. Pension scheme (either: "surpluses (to the extent that they can be recovered) OR "deficits") are recognised in full on the balance sheet, net of related deferred tax.
2. FIXED ASSETS
Tangible Assets
£
COST
At 1 April 2015
22,469
Additions
3,204
---------
At 31 March 2016
25,673
---------
DEPRECIATION
At 1 April 2015
14,951
Charge for year
2,681
---------
At 31 March 2016
17,632
---------
NET BOOK VALUE
At 31 March 2016
8,041
-------
At 31 March 2015
7,518
-------
3. SHARE CAPITAL
Allotted, called up and fully paid:
2016
2015
No.
£
No.
£
Ordinary shares of £ 1 each
1,100
1,100
1,100
1,100
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