Radius Music Management Limited - Limited company accounts 18.2

REGISTERED NUMBER: 06234301 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 31st May 2018

for

Radius Music Management Limited

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

Mr B King

SECRETARY:

Mrs C King

REGISTERED OFFICE:

7 Bridle Close

Kingston up Thames

Surrey

London

KT1 2JW

REGISTERED NUMBER:

06234301 (England and Wales)

ACCOUNTANTS:

Holland & Co. Chartered Accountants

102/104 Widnes Road

Widnes

Cheshire

WA8 6AX

The director presents his report with the financial statements of the company for the year ended 31st May 2018.

DIRECTOR

Mr B King held office during the whole of the period from 1st June 2017 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Mr B King - Director

28th February 2019

TURNOVER

227,364

164,450

Administrative expenses

162,264

117,675

65,100

46,775

Other operating income

473

942

OPERATING PROFIT

4

65,573

47,717

Interest receivable and similar income

47

75

PROFIT BEFORE TAXATION

65,620

47,792

Tax on profit

12,709

10,679

PROFIT FOR THE FINANCIAL YEAR

52,911

37,113

FIXED ASSETS

Tangible assets

5

1,566

1,039

CURRENT ASSETS

Debtors

6

142,419

125,607

Cash at bank

195,319

195,819

337,738

321,426

CREDITORS

Amounts falling due within one year

7

319,396

320,983

NET CURRENT ASSETS

18,342

443

TOTAL ASSETS LESS CURRENT
LIABILITIES

19,908

1,482

CAPITAL AND RESERVES

Called up share capital

1,000

Retained earnings

18,908

482

SHAREHOLDERS' FUNDS

19,908

1,482

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

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

The director acknowledges his 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 28th February 2019 and were signed by:

Mr B King - Director

1.	STATUTORY INFORMATION

Radius Music Management 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Computer Equipment - 25%S/L

Plant and Machinery - 25% S/L

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 2 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.5.18

31.5.17

£

Depreciation - owned assets

431

1,658

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st June 2017

10,992

Additions

958

At 31st May 2018

11,950

DEPRECIATION

At 1st June 2017

9,953

Charge for year

431

At 31st May 2018

10,384

NET BOOK VALUE

At 31st May 2018

1,566

At 31st May 2017

1,039

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

Trade debtors

141,695

118,263

Other debtors

724

7,344

142,419

125,607

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

Taxation and social security

13,739

11,213

Other creditors

305,657

309,770

319,396

320,983

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £34,485 (2017 - £38,500) were paid to the director .

In other creditors, £13,726.44 is owed to Mr B King in the form of a directors loan account at the Year Ended

31/05/2018. At the Year Ended 31/05/2017 the balance was £38390.73

No interest is to be charged on the loan, but is repayable on demand.