CMO Management (International) Limited

CMO Management (International) Limited

CMO MANAGEMENT (INTERNATIONAL) LIMITED - Company Information

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Registered number: 01768322
CMO Management (International) Limited
Abbreviated accounts
For The Year Ended 31 August 2015
EAM London Limited

Chartered Accountants

20 Bunhill Row
London
EC1Y 8UE
CMO Management (International) Limited
Company No. 01768322
Abbreviated Balance Sheet 31 August 2015
Abbreviated Balance Sheet
2015 2014
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 2 605,352 600,308
605,352 600,308
CURRENT ASSETS
Debtors 9,169 145,958
Cash at bank and in hand 100,650 19,101
109,819 165,059
Creditors: Amounts Falling Due Within One Year (294,491) (398,423)
NET CURRENT ASSETS (LIABILITIES) (184,672) (233,364)
TOTAL ASSETS LESS CURRENT LIABILITIES 420,680 366,944
Creditors: Amounts Falling Due After More Than One Year 3 (322,500) (250,000)
NET ASSETS 98,180 116,944
CAPITAL AND RESERVES
Called up share capital 4 100 100
Profit and Loss Account 98,080 116,844
SHAREHOLDERS' FUNDS 98,180 116,944
Page 1
CMO Management (International) Limited
Company No. 01768322
Abbreviated Balance Sheet (continued) 31 August 2015
For the year ending 31 August 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities
  • The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).
On behalf of the board
Mr Christian Morrison
31/05/2016
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CMO Management (International) Limited
Notes to the Abbreviated Accounts
For The Year Ended 31 August 2015
Notes to the Abbreviated Accounts
Accounting Policies
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover represents commissions and royalties net of VAT, and is recognised at the point the company becomes entitled to the commission and royalties. Entitlement to commission and royalties on artist income usually occurs at the date the royalties or advances are payable to the artist and subsequently paid to the company and therefore are accounted for on receipt of income from the artist. Entitlement to commission on an artist performance profits is recognised when management services in respect of such performances are considered complete. Accordingly, management commission received of advances for performances may be carried forward until the service is complete.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Open market value
Fixtures & Fittings 20% straight line
Computer Equipment 33.33% reducing balance
Investment properties
Investment properties should not be subject to periodic charges for depreciation on the basis set out in SSAP 12, except for properties held on lease which should be depreciated on the basis set out in SSAP 12 at least over the period when the unexpired term is 20 years or less.
Investment properties should be included in the balance sheet at their open market value.
Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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CMO Management (International) Limited
Notes to the Abbreviated Accounts (continued)
For The Year Ended 31 August 2015
Tangible Assets
Total
Cost £
As at 1 September 2014 601,041
Additions 6,096
As at 31 August 2015 607,137
Depreciation
As at 1 September 2014 733
Provided during the period 1,052
As at 31 August 2015 1,785
Net Book Value
As at 31 August 2015 605,352
As at 1 September 2014 600,308
Creditors: Amounts Falling Due After More Than One Year
2015 2014
£ £
Bank loans 322,500 250,000
Share Capital
Value Number 2015 2014
Allotted, called up and fully paid £ £ £
Ordinary shares 1.000 100 100 100
Transactions With and Loans to Directors
Dividends paid to directors
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