Modern Media Communications Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03463736 (England and Wales)

MODERN MEDIA COMMUNICATIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2017

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

J E Clarke

C D P Robinson

A T Knoll

A Dann

SECRETARY:

C J Clarke

REGISTERED OFFICE:

Storage - Mart Business Centre

Suite 7, Crowhurst Road

Hollingbury

Brighton

East Sussex

BN1 8AF

REGISTERED NUMBER:

03463736 (England and Wales)

ACCOUNTANTS:

Breeze & Associates Ltd.

Chartered Accountants

6 Marlborough Place

Brighton

East Sussex

BN1 1UB

BANKERS:

National Westminster Bank plc

South Street

Worthing

West Sussex

BN11 3AR

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a

Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary

statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Modern Media Communications Limited for the year ended 30 September 2017 which

comprise the Income Statement, Statement of Financial Position and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Modern Media Communications Limited, as a body, in accordance with the terms of our engagement letter dated 14 February 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Modern Media Communications Limited and state those matters that we have agreed to state to the Board of Directors of Modern Media Communications Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Modern Media Communications Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Modern Media Communications Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Modern Media Communications Limited. You consider that Modern Media Communications 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 financial statements of Modern Media Communications 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 financial statements.

Breeze & Associates Ltd.

Chartered Accountants

6 Marlborough Place

Brighton

East Sussex

BN1 1UB

20 March 2018

FIXED ASSETS

Tangible assets

4

6,846

5,327

Investments

5

-

10,000

6,846

15,327

CURRENT ASSETS

Debtors

6

111,601

173,440

Cash at bank and in hand

293,823

375,995

405,424

549,435

CREDITORS

Amounts falling due within one year

7

75,466

81,435

NET CURRENT ASSETS

329,958

468,000

TOTAL ASSETS LESS CURRENT LIABILITIES

336,804

483,327

PROVISIONS FOR LIABILITIES

1,008

690

NET ASSETS

335,796

482,637

CAPITAL AND RESERVES

Called up share capital

831

884

Share premium

8

64,700

64,700

Capital redemption reserve

8

79

26

Retained earnings

8

270,186

417,027

SHAREHOLDERS' FUNDS

335,796

482,637

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 20 March 2018 and were signed on its behalf by:

J E Clarke - Director

1.	STATUTORY INFORMATION

Modern Media Communications 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 and represents amounts

receivable services rendered, stated net of discounts and of Value Added Tax. When the consideration

receivable in cash or cash equivalents is deferred, and the arrangement constitutes in effect a financing

transaction, the fair value of the consideration is measured as the present value of all future receipts

determined using an imputed rate of interest, normally the rate that discounts the nominal amount of

consideration to the cash sales price.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable

that future economic benefits will flow to the entity and when specific criteria have been met for each of the

company's activities of the actual completion of a proportion of the total services to be rendered.

When the outcome of a service contract cannot be estimated reliably the company only recognises revenue to

the extent of the recoverable expenses recognised.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33.33% on cost

At each balance sheet date the company reviews the carrying amounts of its property, plant and equipment to

determine whether there is any indication that any items of property, plant and equipment have suffered an

impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to

determine the extent of the impairment loss if any. If the recoverable amount of an asset is estimated to be

less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount.

Impairment loss is recognised as an expense immediately.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation represents the sum of the tax currently payable and deferred tax.

The company's liability to tax is calculated using the tax rates that have been enacted or substantively enacted

by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of the assets and liabilities

in the financial statements and the corresponding tax bases used in the computation of taxable profit.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period to

which the liability is settled or the asset realised, based on tax rates and laws that have been enacted or

substantively enacted by the end of the reporting period.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate

of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the

operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2016 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 October 2016

18,415

55,090

73,505

Additions

-

4,540

4,540

At 30 September 2017

18,415

59,630

78,045

DEPRECIATION

At 1 October 2016

15,143

53,035

68,178

Charge for year

481

2,540

3,021

At 30 September 2017

15,624

55,575

71,199

NET BOOK VALUE

At 30 September 2017

2,791

4,055

6,846

At 30 September 2016

3,272

2,055

5,327

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 October 2016

10,000

Disposals

(10,000

)

At 30 September 2017

-

NET BOOK VALUE

At 30 September 2017

-

At 30 September 2016

10,000

6.

DEBTORS

2017

2016

£

£

Amounts falling due within one year:

Trade debtors

94,628

149,802

Other debtors

16,973

13,438

111,601

163,240

Amounts falling due after more than one year:

Other debtors

-

10,200

Aggregate amounts

111,601

173,440

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

31,707

57,129

Taxation and social security

8,192

12,437

Other creditors

35,567

11,869

75,466

81,435

8.

RESERVES

Capital

Retained

Share

redemption

earnings

premium

reserve

Totals

£

£

£

£

At 1 October 2016

417,027

64,700

26

481,753

Deficit for the year

(47,029

)

(47,029

)

Dividends

(49,812

)

(49,812

)

Purchase of own shares

(50,000

)

-

53

(49,947

)

At 30 September 2017

270,186

64,700

79

334,965