NOTICETWICE_LIMITED - Accounts

NOTICETWICE LIMITED - Company Information

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Company Registration No. 02740248 (England and Wales)

NOTICETWICE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2015

NOTICETWICE LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

NOTICETWICE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 OCTOBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

14,921

6,212

Current assets

Debtors

13,301

153,540

Cash at bank and in hand

143,593

140,427

156,894

293,967

Creditors: amounts falling due within one year

(11,857)

(33,247)

Net current assets

145,037

260,720

Total assets less current liabilities

159,958

266,932

Capital and reserves

Called up share capital

100

Profit and loss account

159,858

266,832

Shareholders' funds

159,958

266,932

For the financial year ended 31 October 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 26 July 2016

Mr R F Stannard

Director

Company Registration No. 02740248

NOTICETWICE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents production fees, royalties, non-returnable royalty advances and sundry income. Turnover is recognised on the contractual due date or where unspecified, the date of receipt of cash.

1.4

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 less estimated residual value of each asset over its expected useful life, as follows:

Office Equipment

33% on a straight line basis.

Musical Equipment

15% on a straight line basis

Fixed assets

Tangible assets

Cost

At 1 November 2014

65,175

Additions

20,588

At 31 October 2015

85,763

Depreciation

At 1 November 2014

58,963

Charge for the year

11,879

At 31 October 2015

70,842

Net book value

At 31 October 2015

14,921

At 31 October 2014

6,212

NOTICETWICE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2015

- 3 -

Transactions with directors

The following directors had interest free loans during the year. The movement on these loans are as follows:

Amount outstanding

Maximum

2015

2014

in year

R Stannard

1,515

150,132

218,188

During the year, the company paid £516,737 in expenses to and on behalf of Mr R Stannard and received £690,579 from Mr R Stannard. £21,511 (2014 - £21,511) was recharged by the company to Mr R Stannard in respect of private use of the company's studio equipment. Interest was charged at the relevant HMRC rates - total interest charged was £3,714 (2014 - £1,888). As at 31 October 2015, £1,515 was owed to the company by R Stannard (2014 - £150,132).

The disclosures above are on an aggregated basis due to the large number of transactions.

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100