Mediatech Consulting Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07023146 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2017

FOR

MEDIATECH CONSULTING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S M Thomson

Mrs S J Thomson

SECRETARY:

REGISTERED OFFICE:

58 Southwark Bridge Road

London

SE1 0AS

REGISTERED NUMBER:

07023146 (England and Wales)

ACCOUNTANTS:

Stein Richards

Chartered Accountants

10 London Mews

Paddington

London

W2 1HY

FIXED ASSETS

Tangible assets

4

508,284

530,364

Investments

5

572,662

572,612

1,080,946

1,102,976

CURRENT ASSETS

Debtors

6

252,473

34,479

Cash at bank

10,963

56,695

263,436

91,174

CREDITORS

Amounts falling due within one year

7

1,316,668

1,103,495

NET CURRENT LIABILITIES

(1,053,232

)

(1,012,321

)

TOTAL ASSETS LESS CURRENT LIABILITIES

27,714

90,655

PROVISIONS FOR LIABILITIES

12,561

12,561

NET ASSETS

15,153

78,094

CAPITAL AND RESERVES

Called up share capital

250

250

Retained earnings

14,903

77,844

15,153

78,094

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss has not been delivered.

The financial statements were approved by the Board of Directors on 15 March 2018 and were signed on its behalf by:

S M Thomson - Director

1.	STATUTORY INFORMATION

Mediatech Consulting Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added

tax and other sales taxes.

Turnover for both provision of services and utlisation of company's asset are recognised within the period provided.

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses.

Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary

for it to be capable of operating in the manner intended ny management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives as

indicated below:

Depreciation is provided on the following basis:

Plant and machinery etc - straight line over 25 years

The assets' residual values, useful lives and depreciation methods are reviewed annually and adjusted accordingly if

applicable.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and

liabilities like trade and other debtors and creditors and loans to related parties.

The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement

constitutes a financing transaction, where the transaction is measured at the present value of the future payments/receipts

discounted at a market rate of interest. Such instruments are subsequently carried at amortised costs using the effective

interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date.

Taxation

Tax is recognised in the Profit and loss, except to the extent that it relates to items recognised in other comprehensive

income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted

or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Investments in joint ventures

Investments in joint ventures are recognised at cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2016

and 30 September 2017

551,996

DEPRECIATION

At 1 October 2016

21,632

Charge for year

22,080

At 30 September 2017

43,712

NET BOOK VALUE

At 30 September 2017

508,284

At 30 September 2016

530,364

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 October 2016

572,612

Additions

50

At 30 September 2017

572,662

NET BOOK VALUE

At 30 September 2017

572,662

At 30 September 2016

572,612

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Trade debtors

19,592

22,517

Amounts owed by joint ventures

223,638

11,138

Other debtors

9,243

824

252,473

34,479

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Trade creditors

3,223

513

Taxation and social security

8,802

4,749

Other creditors

1,304,643

1,098,233

1,316,668

1,103,495

8.

RESERVES

During the year dividends of £44,000 (2016: £70,000) were declared. Other than dividends, the only movement in retained

earnings is the result for the year.

9.	RELATED PARTY DISCLOSURES

As at 30 September 2017 the company owed its directors £408,826 (2016: £419,317). The company also owed £885,500 to

a company which is indirectly owed 100% by the directors and controlling party of Mediatech Consulting Limited. As at 30

September 2016 the amount owed was in the sum of £673,000. All loans are repayable on demand, no interest is payable on

the loan.

As at 30 September 2017 the company was owed £223,638 (2016:£11,138) from one of its joint ventures. The loan is

repayable on demand and no interest is receivable on the loan.

10.	FIRST YEAR ADOPTION - TRANSITION TO FRS102

This is the first year the company has presented its results under FRS 102. The last financial statements under UK GAAP

were for the year ended 30 September 2016. The date of transition to FRS 102 was 1 October 2015. There are no

adjustments arising from the first time adoption of FRS 102.