SPEAKEASY_MEDIA_LIMITED - Accounts

SPEAKEASY MEDIA LIMITED - Company Information

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Company Registration No. 03584649 (England and Wales)

SPEAKEASY MEDIA LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2016

SPEAKEASY MEDIA LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

SPEAKEASY MEDIA LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 NOVEMBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

1,446

1,060

Current assets

Debtors

89,018

113,997

Cash at bank and in hand

97,428

59,841

186,446

173,838

Creditors: amounts falling due within one year

(60,213)

(45,374)

Net current assets

126,233

128,464

Total assets less current liabilities

127,679

129,524

Capital and reserves

Called up share capital

175,750

Profit and loss account

(48,071)

(46,226)

Shareholders' funds

127,679

129,524

For the financial year ended 30 November 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 year 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 31 August 2017

Mr J Herring

Director

Company Registration No. 03584649

SPEAKEASY MEDIA LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 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).

The directors are satisfied with the results for the year and the state of affairs of the company at the balance sheet date. They have future plans regarding the going concern of the company.

1.2

Turnover

Turnover represents amounts receivable for services net of VAT.

1.3

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:

Computer equipment

33.3% Straight Line.

1.4

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Fixed assets

Tangible assets

Cost

At 1 December 2015

3,752

Additions

1,207

At 30 November 2016

4,959

Depreciation

At 1 December 2015

2,692

Charge for the year

821

At 30 November 2016

3,513

Net book value

At 30 November 2016

1,446

At 30 November 2015

1,060

SPEAKEASY MEDIA LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

175,750 Ordinary shares of £1 each

175,750

Related party relationships and transactions

Loans to directors

The following directors had interest free loans during the year. The movement on these loans are as follows:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mr J Gibson -

16,962

Mr J Herring -

20,718

37,680

Other transactions

Mr J Herring is a director and shareholder of Speakeasy Media Limited. He is also a director and shareholder of Taylor Herring Public Relations Limited. In the year ended 30 November 2016 the company made sales of £1,000 (2015: £4,800) to Taylor Herring Public Relations Limited. Also in the year ended 30 November 2016 Taylor Herring Public Relations Limited invoiced the company expenditure of £11,801 (2015: £6,687). At 30 November 2016 £3,035 (2015: £2,732) was owed to Taylor Herring Public Relations Limited.