ACS Media Limited - Period Ending 2016-12-31

Registration number: 02868672

ACS Media Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2016

ACS Media Limited

Contents

Balance Sheet	1
Statement of Changes in Equity	2
Notes to the Financial Statements	3 to 6

ACS Media Limited

(Registration number: 02868672)
Balance Sheet as at 31 December 2016

	Note	2016 £	2015 £
Fixed assets
Tangible assets	6	149	213
Current assets
Debtors	7	206,590	220,068
Cash at bank and in hand		16,118	16,800
		222,708	236,868
Creditors: Amounts falling due within one year	8	(43,973)	(59,300)
Net current assets		178,735	177,568
Net assets		178,884	177,781
Capital and reserves
Called up share capital		4	4
Profit and loss account		178,880	177,777
Total equity		178,884	177,781

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 26 September 2017 and signed on its behalf by:
 

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

Mr PM Craik

Director

The notes on pages 3 to 6 form an integral part of these financial statements.

Page 1

ACS Media Limited

Statement of Changes in Equity for the Year Ended 31 December 2016

	Share capital £	Profit and loss account £	Total £
At 1 January 2015	4	157,410	157,414
Profit for the year	-	20,367	20,367
At 31 December 2015	4	177,777	177,781

	Share capital £	Profit and loss account £	Total £
At 1 January 2016	4	177,777	177,781
Profit for the year	-	1,103	1,103
At 31 December 2016	4	178,880	178,884

The notes on pages 3 to 6 form an integral part of these financial statements.

Page 2

ACS Media Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

The principal place of business is:
Unit B1 Shannon House
Hambridge Road
Newbury
Berkshire
RG14 5SS
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, 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

Amortisation

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

Asset class	Amortisation method and rate
Website	20% straight line basis

Page 3

ACS Media Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

Trade debtors

Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Taxation

	2016		2015
	£		£
Corporation tax	15		4,801

4	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2015 - 4).

Page 4

ACS Media Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

5	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2016	66,585	66,585
At 31 December 2016	66,585	66,585
Amortisation
At 1 January 2016	66,585	66,585
At 31 December 2016	66,585	66,585
Carrying amount
At 31 December 2016	-	-

6	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 January 2016	3,964	12,250	54,384	70,598
At 31 December 2016	3,964	12,250	54,384	70,598
Depreciation
At 1 January 2016	3,751	12,250	54,384	70,385
Charge for the year	64	-	-	64
At 31 December 2016	3,815	12,250	54,384	70,449
Carrying amount
At 31 December 2016	149	-	-	149
At 31 December 2015	213	-	-	213

Page 5

ACS Media Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

7

Debtors

	2016 £	2015 £
Other debtors	206,590	220,068
Total current trade and other debtors	206,590	220,068

8

Creditors

	Note	2016 £	2015 £
Due within one year
Taxation and social security		38,307	53,634
Other creditors		5,666	5,666
		43,973	59,300

9	Related party transactions

Other transactions with directors

Directors had a loan with the company. At the balance sheet date the amount due to directors was £4,166 (2015: £3,666).

Summary of transactions with other related parties

ESP Music Disco Limited ( a company of which directors of ACS Media Limited are shareholders and directors)
 traded with the company. Invoices were raised to ESP Music Disco Limited for the year amounting to £4,000 (2015: 29,667). At the balance sheet date the amount due from ESP Music Disco Ltd was £206,590 (2015: £220,068).
 

10	Transition to FRS 102

There were no changes required as a result of transition to FRS 102.

Page 6