WHATSONSTAGE_LIMITED - Accounts

WHATSONSTAGE LIMITED - Company Information

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Company Registration No. 08281131 (England and Wales)

WHATSONSTAGE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2016

WHATSONSTAGE LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

WHATSONSTAGE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

124,524

135,021

Tangible assets

5,244

5,740

129,768

140,761

Current assets

Debtors

66,961

183,698

Cash at bank and in hand

108,887

117,884

175,848

301,582

Creditors: amounts falling due within one year

(1,310,290)

(929,381)

Net current liabilities

(1,134,442)

(627,799)

Total assets less current liabilities

(1,004,674)

(487,038)

Provisions for liabilities

(1,049)

(1,005,723)

(487,038)

Capital and reserves

Called up share capital

Profit and loss account

(1,005,725)

(487,040)

Shareholders' funds

(1,005,723)

(487,038)

For the financial year ended 30 June 2016 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 11 October 2016

J Yurcik

G Shugart

Director

Company Registration No. 08281131

WHATSONSTAGE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2016

- 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).

The company meets its day to day working capital requirements through funds loaned to it by its parent company.

The company's balance sheet at the year end shows that the liabilities exceed assets by £1,005,723. Creditors include £1,191,292 owed to the parent company. The directors of that parent have given the necessary assurances of continued support to the company such that is appropriate to prepare these accounts on a going concern basis.

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 amounts receivable from digital advertising revenues, ticketing, membership and award ceremony sales, net of VAT.

1.4

Goodwill

The directors consider that the goodwill has an indefinite useful life and therefore no provision has been made for amortisation.

1.5

Customer list and website costs

The directors have considered and reviewed the carrying values and potential impairment of the acquired customer lists and website costs and have provided amortisation at 10% per annum on a straight-line basis, on each of these classes of intangible asset.

1.6

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:

Fixtures, fittings & equipment

10% straight line

WHATSONSTAGE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2016

- 3 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 July 2015

166,512

7,528

174,040

Additions

285

At 30 June 2016

166,512

7,813

174,325

Depreciation

At 1 July 2015

31,491

1,788

33,279

Charge for the year

10,497

781

11,278

At 30 June 2016

41,988

2,569

44,557

Net book value

At 30 June 2016

124,524

5,244

129,768

At 30 June 2015

135,021

5,740

140,761

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary shares of £1 each

Ultimate parent company

The company is a wholly owned subsidary of TheatreMania.com Inc., a company incorporated in the United States of America.