Atlantic Screen International Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07599368 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

ATLANTIC SCREEN INTERNATIONAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S P Fawcett

REGISTERED OFFICE:

23 High Street,

Pewsey

SN95AF

REGISTERED NUMBER:

07599368 (England and Wales)

ACCOUNTANTS:

Macalvins Limited

Chartered Accountants

7 St John's Road

Harrow

Middlesex

HA1 2EY

FIXED ASSETS

Intangible assets

3

957,759

1,027,728

CURRENT ASSETS

Debtors

4

741,952

874,360

Cash at bank

-

13,370

741,952

887,730

CREDITORS

Amounts falling due within one year

5

81,869

289,160

NET CURRENT ASSETS

660,083

598,570

TOTAL ASSETS LESS CURRENT LIABILITIES

1,617,842

1,626,298

CAPITAL AND RESERVES

Called up share capital

200,001

200,001

Share premium Account

1,255,617

1,255,617

Retained earnings

162,224

170,680

SHAREHOLDERS' FUNDS

1,617,842

1,626,298

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 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 director on 22 August 2019 and were signed by:

S P Fawcett - Director

1.	STATUTORY INFORMATION

Atlantic Screen International 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.

Turnover

Turnover represents royalties received from music copyrights during the year.

Revenue recognition

Royalties from music copyrights is recognised in the accounting period in which the company receives it.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Music copyrights are being amortised evenly over their estimated useful life of 20 years.

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.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of

exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the

transactions. All differences are taken to the Profit and Loss account.

3.	INTANGIBLE FIXED ASSETS

Music

copyrights

£

COST

At 1 January 2018

and 31 December 2018

1,399,376

AMORTISATION

At 1 January 2018

371,648

Amortisation for year

69,969

At 31 December 2018

441,617

NET BOOK VALUE

At 31 December 2018

957,759

At 31 December 2017

1,027,728

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Amounts owed by connected companies

515,032

721,567

Other debtors

226,920

152,793

741,952

874,360

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

11,070

24,612

Amounts owed to connected companies

-

175,397

Taxation and social security

14,965

26,201

Other creditors

55,834

62,950

81,869

289,160

6.	RELATED PARTY DISCLOSURES

During the year, the company paid management fees of £50,000 (2017: £50,000) and dividends of £150,000

(2017: £200,,000) to the parent company, Copyright Administration Services Limited.

Included within debtors as at the year end is £ 515,032 (2017: £ 721,567), an amount owed from Copyright

Administration Service limited, the parent company. There are no specific terms of repayment.

Included within creditors as at the year end is £ Nil (2017: £ 175,397), an amount owed to Atlantic Screen Music

Limited, a parent company of Copyright Administration Service Limited. There are no specific terms of

repayment.

7.

ULTIMATE PARENT AND

CONTROLLING PARTY

The company is a subsidiary of Copyright Administration Services Limited, a company registered in England

and Wales. The directors consider Copyright Administration Services Limited to be the ultimate controlling

party.