Company Registration No. 09703675 (England and Wales)
SHARPS MEDIA GROUP LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2016
SHARPS MEDIA GROUP LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
SHARPS MEDIA GROUP LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2016
31 August 2016
- 1 -
2016
Notes
£
£
Fixed assets
Tangible assets
2
2,154
Current assets
Debtors
40,787
Cash at bank and in hand
3,399
44,186
Creditors: amounts falling due within one year
(46,039)
Net current liabilities
(1,853)
Total assets less current liabilities
301
Capital and reserves
Called up share capital
3
40
Profit and loss account
261
Shareholders' funds
301
For the financial Period ended 31 August 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 Period 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 19 May 2017
Mr A H Sharp
Director
Company Registration No. 09703675
SHARPS MEDIA GROUP LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 31 AUGUST 2016
- 2 -
1
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).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
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% straight line
2
Fixed assets
Tangible assets
£
Cost
At 27 July 2015
-
Additions
3,231
At 31 August 2016
3,231
Depreciation
At 27 July 2015
-
Charge for the period
1,077
At 31 August 2016
1,077
Net book value
At 31 August 2016
2,154
SHARPS MEDIA GROUP LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDED 31 AUGUST 2016
- 3 -
3
Share capital
2016
£
Allotted, called up and fully paid
10 Ordinary of £1 each
10
10 Ordinary 'A' of £1 each
10
10 Ordinary 'B' of £1 each
10
10 Ordinary 'C' of £1 each
10
40
4
Related party relationships and transactions
The following directors had interest free loans during the Period. The movement on these loans are as follows:
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Mr A H Sharp -
-
-
11,180
-
4,760
6,420
Mr M R Sharp -
-
-
16,071
-
5,440
10,631
Mr T R Sharp -
-
-
18,808
-
6,290
12,518
Mr S M Caine -
-
-
1,725
-
510
1,215
-
47,784
-
17,000
30,784