MEMORY_LANE_MUSIC_LIMITED - Accounts

MEMORY LANE MUSIC LIMITED - Company Information

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Company Registration No. 01381252 (England and Wales)

MEMORY LANE MUSIC LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

MEMORY LANE MUSIC LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

MEMORY LANE MUSIC LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Current assets

Debtors

1,241

58,694

Cash at bank and in hand

40,393

9,964

41,634

68,658

Creditors: amounts falling due within one year

(36,032)

(57,229)

Total assets less current liabilities

5,602

11,429

Capital and reserves

Called up share capital

100

Profit and loss account

5,502

11,329

Shareholders' funds

5,602

11,429

For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 29 September 2016

Mark Spier

Director

Company Registration No. 01381252

MEMORY LANE MUSIC LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 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 January 2015).

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).

The accounts have been prepared on a going concern basis which the directors deem appropriate in view of the financial support given by the shareholder.

1.3

Turnover

Turnover consists of royalties received during the year net of value added tax. Turnover is recognised on the contractual date or, where this is unspecified, 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:

Computer equipment

33.33% straight line

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All gains or losses are taken to profit and loss account.

Fixed assets

Tangible assets

Cost

At 1 January 2015 & at 31 December 2015

2,867

Depreciation

At 1 January 2015 & at 31 December 2015

2,867

Net book value

At 31 December 2015

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary of £1 each

100

MEMORY LANE MUSIC LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Ultimate parent company

The ultimate parent company is Memory Lane Music Group LLC (a company incorporated in the USA).