Company Registration No. 10872547 (England and Wales)
ENTALE MEDIA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2020
PAGES FOR FILING WITH REGISTRAR
Level 1, Devonshire House
One Mayfair Place
London
United Kingdom
W1J 8AJ
ENTALE MEDIA LIMITED
CONTENTS
Page
Company information
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 7
ENTALE MEDIA LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr William Godfrey
Mr. W Harris
Company number
10872547
Registered office
Founders Factory Ltd
Northcliffe House
Young Street
London
W8 5EH
Accountants
TC Group
Level 1, Devonshire House
One Mayfair Place
London
United Kingdom
W1J 8AJ
ENTALE MEDIA LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2020
31 March 2020
- 2 -
2020
2019
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
3
14,607
8,328
Current assets
Trade and other receivables
4
329,958
142,031
Cash and cash equivalents
798,937
17,849
1,128,895
159,880
Current liabilities
5
(231,559)
(204,518)
Net current assets/(liabilities)
897,336
(44,638)
Total assets less current liabilities
911,943
(36,310)
Provisions for liabilities
(1,451)
-
Net assets/(liabilities)
910,492
(36,310)
Equity
Called up share capital
6
224
155
Share premium account
2,208,177
576,283
Retained earnings
(1,297,909)
(612,748)
Total equity
910,492
(36,310)
The directors of the company have elected not to include a copy of the income statement within the financial statements.
true
For the financial year ended 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
ENTALE MEDIA LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 MARCH 2020
31 March 2020
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 3 June 2020 and are signed on its behalf by:
Mr. W Harris
Director
Company Registration No. 10872547
The notes on pages 4 to 7 form part of these financial statements
ENTALE MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
- 4 -
1
Accounting policies
Company information
Entale Media Limited
(10872547)
is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Founders Factory Ltd, Northcliffe House, Young Street, London, W8 5EH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Revenue
Revenue is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT
.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion
.
1.3
Property, plant and equipment
Property, plant and equipment
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
33% Straight Line
Computers
33% Straight Line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Impairment of non-current assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
ENTALE MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
1
Accounting policies
(Continued)
- 5 -
1.5
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks
.
1.6
Equity instruments
Equity instruments issued by the company are recorded as proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
ENTALE MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
1
Accounting policies
(Continued)
- 6 -
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 9 (2019 - 9).
3
Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 April 2019
14,474
Additions
12,933
At 31 March 2020
27,407
Depreciation and impairment
At 1 April 2019
6,145
Depreciation charged in the year
6,655
At 31 March 2020
12,800
Carrying amount
At 31 March 2020
14,607
At 31 March 2019
8,328
ENTALE MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
- 7 -
4
Trade and other receivables
2020
2019
Amounts falling due within one year:
£
£
Trade receivables
4,190
-
Corporation tax recoverable
172,616
111,119
Other receivables
15,711
30,912
192,517
142,031
2020
2019
Amounts falling due after more than one year:
£
£
Other receivables
137,441
-
Total debtors
329,958
142,031
5
Current liabilities
2020
2019
£
£
Trade payables
8,655
4,498
Taxation and social security
46,496
48,512
Other payables
176,408
151,508
231,559
204,518
6
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and not fully paid
224,659 (2019: 155,408) Ordinary shares of 0.1p each
224
155