Aspen Media Limited02942622falsetrue2015-06-012016-05-312016-05-31029426222015-06-012016-05-31029426222016-05-3102942622uk-bus:Director12016-05-3102942622uk-bus:OrdinaryShareClass12016-05-3102942622uk-bus:AllEntityOfficers2015-06-012016-05-3102942622uk-bus:Director12015-06-012016-05-3102942622uk-bus:OrdinaryShareClass12015-06-012016-05-3102942622uk-bus:EntityAccountantsOrAuditors2015-06-012016-05-3102942622uk-gaap:FixturesFittings2015-06-012016-05-3102942622uk-gaap:PlantMachinery2015-06-012016-05-31029426222015-05-31029426222015-05-3102942622uk-bus:OrdinaryShareClass12015-05-31iso4217:GBPxbrli:shares

Registration number: 02942622

Aspen Media Limited

Unaudited Abbreviated Accounts
 
for the Year Ended 31 May 2016

Michael J Emery & Co Limited
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

 

Aspen Media Limited

Contents

Accountants' Report

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3 to 5

 

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Aspen Media Limited
for the Year Ended 31 May 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Aspen Media Limited for the year ended 31 May 2016 set out on pages 2 to 5 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 at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Aspen 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 Aspen Media Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Aspen Media Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Aspen 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 Aspen Media Limited. You consider that Aspen 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 Aspen 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.

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

Michael J Emery & Co Limited
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

Date:.............................

 

Aspen Media Limited

(Registration number: 02942622)
Abbreviated Balance Sheet as at 31 May 2016

Note

2016
 £

2015
 £

Fixed assets

 

Tangible assets

2

22,551

23,259

Current assets

 

Stocks

 

35,627

63,485

Debtors

50,114

16,962

Cash at bank and in hand

 

196,477

241,641

 

282,218

322,088

Prepayments and accrued income

 

8,228

8,179

Creditors: Amounts falling due within one year

(54,894)

(30,278)

Net current assets

 

235,552

299,989

Total assets less current liabilities

 

258,103

323,248

Provisions for liabilities

 

(3,007)

(4,652)

Accruals and deferred income

 

(1,812)

(1,772)

Net assets

 

253,284

316,824

Capital and reserves

 

Called up share capital

3

2

2

Profit and loss account

 

253,282

316,822

Shareholders funds

 

253,284

316,824

For the year ending 31 May 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the director on 2 December 2016

.........................................
Mr CDM Collings
Director

 

Aspen Media Limited

Notes to the Abbreviated Accounts

 

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% on cost

Fixtures and fittings

20% on cost

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

 

2

Fixed assets

Tangible assets
£

Total
£

Cost

At 1 June 2015

130,375

130,375

Additions

12,101

12,101

Disposals

(6,007)

(6,007)

At 31 May 2016

136,469

136,469

Depreciation

At 1 June 2015

107,116

107,116

Charge for the year

12,271

12,271

Eliminated on disposals

(5,469)

(5,469)

At 31 May 2016

113,918

113,918

Net book value

At 31 May 2016

22,551

22,551

At 31 May 2015

23,259

23,259

 

Aspen Media Limited

Notes to the Abbreviated Accounts

Tangible assets
£

Total
£

Cost

At 1 June 2015

130,375

130,375

Additions

12,101

12,101

Disposals

(6,007)

(6,007)

At 31 May 2016

136,469

136,469

Depreciation

At 1 June 2015

107,116

107,116

Charge for the year

12,271

12,271

Eliminated on disposals

(5,469)

(5,469)

At 31 May 2016

113,918

113,918

Net book value

At 31 May 2016

22,551

22,551

At 31 May 2015

23,259

23,259

 

3

Share capital

Allotted, called up and fully paid shares

 

2016

2015

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         
 

4

Related party transactions

Transactions with directors

2016

At 1 June 2015
£

Advances to directors
£

Repayments by director
£

Other payments made to company by director
£

At 31 May 2016
£

Mr CDM Collings

-

15,370

-

-

15,370

           
         

 

 

Aspen Media Limited

Notes to the Abbreviated Accounts

2015

At 1 June 2014
£

Advances to directors
£

Repayments by director
£

Other payments made to company by director
£

At 31 May 2015
£

Other transactions with directors

The directors loan account was cleared after the year end.

 

5

Control

The director is the controlling party by virtue of his controlling shareholding in the company.