REGISTERED NUMBER: 09633550 (England and Wales)

1616 MEDIA LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2018

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

Ms S Edward

Mr J Osborne

REGISTERED OFFICE:

31 St Saviourgate

York

North Yorkshire

YO1 8NQ

REGISTERED NUMBER:

09633550 (England and Wales)

ACCOUNTANTS:

UHY Calvert Smith

Chartered Accountants

31 St Saviourgate

York

North Yorkshire

YO1 8NQ

FIXED ASSETS

Intangible assets

4

302,599

70,777

Tangible assets

5

1,048

-

303,647

70,777

CURRENT ASSETS

Debtors

6

60,284

39,576

Cash at bank and in hand

4,372

958

64,656

40,534

CREDITORS

Amounts falling due within one year

7

556,925

189,708

NET CURRENT LIABILITIES

(492,269

)

(149,174

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(188,622

)

(78,397

)

CAPITAL AND RESERVES

Called up share capital

11,000

-

Retained earnings

(199,622

)

(78,397

)

SHAREHOLDERS' FUNDS

(188,622

)

(78,397

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 29 October 2018 and were signed on its behalf by:

Ms S Edward - Director

1.	STATUTORY INFORMATION

1616 Media Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information

page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Intangible assets - development activities

The company has adopted a policy of capitalising qualifying development expenditure as an

intangible asset.

The intangible asset is initially recognised at cost. Cost comprises all directly attributable costs to

create, produce and prepare the asset to be capable of operating in the manner intended by

management.

The intangible asset will be amortised in accordance with its expected useful life when completed. At

the balance sheet date the development phase was ongoing.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33.3% on reducing balance

Convertible loan notes

Convertible loan notes issued by the company are recognised at cost, and are included in creditors

falling due within one year.

Interest in connection with the loans is recognised in the Income Statement as it accrues from issue.

Commission and other direct costs are recognised at issue.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable

profits.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 February 2017

70,777

Additions

231,822

At 31 January 2018

302,599

NET BOOK VALUE

At 31 January 2018

302,599

At 31 January 2017

70,777

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

1,497

At 31 January 2018

1,497

DEPRECIATION

Charge for year

449

At 31 January 2018

449

NET BOOK VALUE

At 31 January 2018

1,048

6.

DEBTORS

2018

2017

£

£

Amounts falling due within one year:

Other debtors

13,460

21,187

Amounts falling due after more than one year:

Other debtors

46,824

18,389

Aggregate amounts

60,284

39,576

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Taxation and social security

4,725

1,164

Other creditors

552,200

188,544

556,925

189,708

8.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Convertible loan notes issued

412,931

165,794

Secured by way of a floating charge over the assets and intellectual property of the company.

9.	RELATED PARTY DISCLOSURES

10.	POST BALANCE SHEET EVENTS

The company's issued loan notes, and related accrued interest, have been converted to share capital

since the balance sheet date.