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Registration number: 08011881

SJM Technical Media Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2017

Newsham Hanson Ltd
Chartered Certified Accountants
Edinburgh House
1-5 Bellevue Road
Clevedon
North Somerset
BS21 7NP

 

SJM Technical Media Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4 to 9

 

SJM Technical Media Limited

Company Information

Director

Mr John Matchett

Registered office

Unit 5 Elm Tree Business Park
Sheepway
Portishead
Bristol
BS20 7TF

Accountants

Newsham Hanson Ltd
Chartered Certified Accountants
Edinburgh House
1-5 Bellevue Road
Clevedon
North Somerset
BS21 7NP

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
SJM Technical Media Limited
for the Year Ended 30 April 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SJM Technical Media Limited for the year ended 30 April 2017 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.

This report is made solely to the Board of Directors of SJM Technical Media Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of SJM Technical Media Limited and state those matters that we have agreed to state to the Board of Directors of SJM Technical Media Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SJM Technical Media Limited and its Board of Directors as a body for our work or for this report.

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

......................................

Newsham Hanson Ltd
Chartered Certified Accountants
Edinburgh House
1-5 Bellevue Road
Clevedon
North Somerset
BS21 7NP

22 November 2017

 

SJM Technical Media Limited

(Registration number: 08011881)
Balance Sheet as at 30 April 2017

Note

2017
£

2016
£

Fixed assets

 

Tangible assets

5

14,677

17,227

Current assets

 

Debtors

6

7,121

18,010

Cash at bank and in hand

 

2,135

1,343

 

9,256

19,353

Creditors: Amounts falling due within one year

7

(25,489)

(36,125)

Net current liabilities

 

(16,233)

(16,772)

Net (liabilities)/assets

 

(1,556)

455

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

(1,557)

454

Total equity

 

(1,556)

455

For the financial year ending 30 April 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 22 November 2017
 

.........................................

Mr John Matchett

Director

 

SJM Technical Media Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

1

General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
Unit 5 Elm Tree Business Park
Sheepway
Portishead
Bristol
BS20 7TF

These financial statements were authorised for issue by the director on 22 November 2017.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings tools and equipment

25% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

SJM Technical Media Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

Asset class

Amortisation method and rate

Goodwill

Amortised over four years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2016 - 1).

 

SJM Technical Media Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2016

40,000

40,000

At 30 April 2017

40,000

40,000

Amortisation

At 1 May 2016

40,000

40,000

At 30 April 2017

40,000

40,000

Carrying amount

At 30 April 2017

-

-

The aggregate amount of research and development expenditure recognised as an expense during the period is £Nil (2016 - £Nil).
 

 

SJM Technical Media Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

5

Tangible assets

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 May 2016

48,673

48,673

Additions

3,550

3,550

At 30 April 2017

52,223

52,223

Depreciation

At 1 May 2016

31,446

31,446

Charge for the year

6,100

6,100

At 30 April 2017

37,546

37,546

Carrying amount

At 30 April 2017

14,677

14,677

At 30 April 2016

17,227

17,227

6

Debtors

2017
£

2016
£

Trade debtors

5,940

17,088

Other debtors

1,181

922

Total current trade and other debtors

7,121

18,010

7

Creditors

Note

2017
£

2016
£

Due within one year

 

Trade creditors

 

1,110

1,866

Amounts owed to related parties

20,368

23,875

Taxation and social security

 

1,169

4,021

Other creditors

 

2,842

6,363

 

25,489

36,125

 

SJM Technical Media Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

8

Transition to FRS 102

The policies adopted under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

Balance Sheet at 1 May 2015
 

Note

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Fixed assets

 

Intangible assets

 

10,000

-

-

10,000

Tangible assets

 

21,111

-

-

21,111

 

31,111

-

-

31,111

Current assets

 

Debtors

 

16,710

-

-

16,710

Cash at bank and in hand

 

1,354

-

-

1,354

 

18,064

-

-

18,064

Creditors: Amounts falling due within one year

 

(48,710)

-

-

(48,710)

Net current liabilities

 

(30,646)

-

-

(30,646)

Net assets

 

465

-

-

465

Capital and reserves

 

Called up share capital

 

1

-

-

1

Profit and loss account

 

464

-

-

464

Total equity

 

465

-

-

465

 

SJM Technical Media Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

Balance Sheet at 30 April 2016
 

Note

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Fixed assets

 

Tangible assets

 

17,227

-

-

17,227

Current assets

 

Debtors

 

18,010

-

-

18,010

Cash at bank and in hand

 

1,343

-

-

1,343

 

19,353

-

-

19,353

Creditors: Amounts falling due within one year

 

(36,125)

-

-

(36,125)

Net current liabilities

 

(16,772)

-

-

(16,772)

Net assets

 

455

-

-

455

Capital and reserves

 

Called up share capital

 

1

-

-

1

Profit and loss account

 

454

-

-

454

Total equity

 

455

-

-

455


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