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Abbreviated Unaudited Accounts for the Year Ended 31 March 2016 |
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OpenLab Media Ltd |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts for the Year Ended 31 March 2016 |
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OpenLab Media Ltd |
OpenLab Media Ltd (Registered number: 08446272) |
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Contents of the Abbreviated Accounts |
for the Year Ended 31 March 2016 |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
OpenLab Media Ltd |
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Company Information |
for the Year Ended 31 March 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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OpenLab Media Ltd (Registered number: 08446272) |
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Abbreviated Balance Sheet |
31 March 2016 |
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31.3.16 | 31.3.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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Investments | 3 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Share premium |
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Profit and loss account | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
OpenLab Media Ltd (Registered number: 08446272) |
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Abbreviated Balance Sheet - continued |
31 March 2016 |
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The financial statements were approved by the Board of Directors on
signed on its behalf by: |
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OpenLab Media Ltd (Registered number: 08446272) |
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Notes to the Abbreviated Accounts |
for the Year Ended 31 March 2016 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The company has made a loss of £ 336,444 in the year to 31 March 2016 ( 2015:£327,665) |
and has net liabilities of £585,175 ( 2015:£248,731). |
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The company is supported by loans from the directors, and companies controlled by the |
directors, who have indicated that they will not seek repayment until such time that the |
company has sufficient funds. Accordingly, the directors consider it appropriate to prepare |
these accounts on a going concern basis |
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Accounting convention |
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). |
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Exemption from preparing a cash flow statement |
Exemption has been taken from preparing a cash flow statement on the grounds that the |
company qualifies as a small company. |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not |
reversed at the balance sheet date. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of |
exchange ruling at the balance sheet 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. |
OpenLab Media Ltd (Registered number: 08446272) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 March 2016 |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 April 2015 |
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Additions |
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At 31 March 2016 |
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DEPRECIATION |
At 1 April 2015 |
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Charge for year |
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At 31 March 2016 |
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NET BOOK VALUE |
At 31 March 2016 |
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At 31 March 2015 |
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3. | FIXED ASSET INVESTMENTS |
Investments |
other |
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loans |
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COST |
At 1 April 2015 |
and 31 March 2016 | 3,183 |
NET BOOK VALUE |
At 31 March 2016 |
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At 31 March 2015 |
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The company's investments at the Balance Sheet date in the share capital of companies |
include the following: |
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Country of incorporation: Spain |
Nature of business:
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Class of shares: | holding |
Ordinary | 100.00 |
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£ | £ |
Aggregate capital and reserves | (20,146 | ) | (468 | ) |
Loss for the year | (21,550 | ) | (2,855 | ) |
OpenLab Media Ltd (Registered number: 08446272) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 March 2016 |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.16 | 31.3.15 |
value: | £ | £ |
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Ordinary | 1 |
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