Abbreviated Company Accounts - NOWPRESENT LIMITED

NOWPRESENT LIMITED - Company Information

08268468 NOWPRESENT LIMITED 2014-10-30 false 2013-10-31 2014-10-30 true 08268468 2013-10-31 2014-10-30 08268468 2014-10-30 08268468 2013-10-30 08268468 uk-gaap-cd-bus:Director1 2013-10-31 2014-10-30 08268468 uk-gaap-cd-bus:Director2 2013-10-31 2014-10-30 uk-gaap-cd-bus:OrdinaryShareClass1 2013-10-31 2014-10-30 uk-gaap-cd-bus:OrdinaryShareClass1 2014-10-30 uk-gaap-cd-bus:OrdinaryShareClass1 2013-10-30 iso4217:GBP shares

Registered Number 08268468

NOWPRESENT LIMITED

Abbreviated Accounts

30 October 2014

NOWPRESENT LIMITED Registered Number 08268468

Abbreviated Balance Sheet as at 30 October 2014

	Notes	2014	2013
		£	£
Called up share capital not paid		-	-
Fixed assets
Intangible assets		-	-
Tangible assets		-	-
Investments		-	-
		-	-
Current assets
Stocks		-	-
Debtors		117,261	47,451
Investments		-	-
Cash at bank and in hand		5,209	22,769
		122,470	70,220
Prepayments and accrued income		-	-
Creditors: amounts falling due within one year		(267,559)	(118,645)
Net current assets (liabilities)		(145,089)	(48,425)
Total assets less current liabilities		(145,089)	(48,425)
Creditors: amounts falling due after more than one year		0	0
Provisions for liabilities		0	0
Accruals and deferred income		0	0
Total net assets (liabilities)		(145,089)	(48,425)
Capital and reserves
Called up share capital	2	1,632	1,375
Share premium account		254,118	24,975
Revaluation reserve		0	0
Other reserves		0	0
Profit and loss account		(400,839)	(74,775)
Shareholders' funds		(145,089)	(48,425)

For the year ending 30 October 2014 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 Board on 27 July 2015

And signed on their behalf by:
C Lycett, Director

NOWPRESENT LIMITED Registered Number 08268468

Notes to the Abbreviated Accounts for the period ended 30 October 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

During the year the company incurred trading losses. This is due to the start up costs incurred in promoting and supporting the band which is expected given the nature of the trade. The company intends to generate profits in the future via album sales and performance income, and this is set to materialise within the next 12-24 months.

Despite the fact that the company reports a deficiency of assets at the year end, the director is of the opinion that sufficient funding is available to enable it to meet all of its liabilities as and when they fall due. The accounts have therefore been prepared on a going concern basis.

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Other accounting policies
Revenue recognition
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable excluding discounts, rebates and VAT.

2Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
1,632 Ordinary shares of £1 each (1,375 shares for 2013)	1,632	1,375

During the year the company issued 257 ordinary shares of £1 each for a consideration of £1,000 per share.

The total consideration received by the company during the period for all shares issued was £257,000, giving rise to a share premium of £256,743.