1 2 One Entertainment (UK) Ltd - Accounts to registrar (filleted) - small 17.3

1 2 One Entertainment (UK) Ltd - Accounts to registrar (filleted) - small 17.3


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REGISTERED NUMBER: 07641845 (England and Wales)












Unaudited Financial Statements

For The Year Ended 31st May 2017

for

1 2 One Entertainment (UK) Ltd

1 2 One Entertainment (UK) Ltd (Registered number: 07641845)






Contents of the Financial Statements
For The Year Ended 31st May 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


1 2 One Entertainment (UK) Ltd

Company Information
For The Year Ended 31st May 2017







DIRECTORS: Mr P Kennedy
Mr E Kennedy





REGISTERED OFFICE: Ground Floor
31 Kentish Town Road
London
NW1 8NL





REGISTERED NUMBER: 07641845 (England and Wales)





ACCOUNTANTS: C. C. Panayi & Co LLP
Ground Floor
31 Kentish Town Road
London
NW1 8NL

1 2 One Entertainment (UK) Ltd (Registered number: 07641845)

Balance Sheet
31st May 2017

31.5.17 31.5.16
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,933 5,244

CURRENT ASSETS
Debtors 5 9,888 7,528
Cash at bank 22,112 2,937
32,000 10,465
CREDITORS
Amounts falling due within one year 6 94,450 36,478
NET CURRENT LIABILITIES (62,450 ) (26,013 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(58,517

)

(20,769

)

PROVISIONS FOR LIABILITIES 787 -
NET LIABILITIES (59,304 ) (20,769 )

CAPITAL AND RESERVES
Called up share capital 2 1
Retained earnings (59,306 ) (20,770 )
SHAREHOLDERS' FUNDS (59,304 ) (20,769 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387
of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the
company as at the end of each financial year and of its profit or loss for each financial year in
accordance with the requirements of Sections 394 and 395 and which otherwise comply with
the requirements of the Companies Act 2006 relating to financial statements, so far as
applicable to the company.

1 2 One Entertainment (UK) Ltd (Registered number: 07641845)

Balance Sheet - continued
31st May 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 28th February 2018 and were
signed on its behalf by:





Mr P Kennedy - Director


1 2 One Entertainment (UK) Ltd (Registered number: 07641845)

Notes to the Financial Statements
For The Year Ended 31st May 2017

1. STATUTORY INFORMATION

1 2 One Entertainment (UK) Ltd is a private company, limited by shares , registered in
England and Wales. The company's registered number and registered office address can be
found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on a going concern basis which assumes that the company
will continue to trade. The validity of this assumption is dependent on sufficient and
continuing financial support being made available by the company's directors.The directors'
are confident that the company will become profitable in the foreseeable future and
undertake to continue to support the company until such time.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding
discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Financial instruments
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised
cost using the effective interest method, less impairment losses for bad and doubtful debts
except where the effect of discounting would be immaterial. In such cases, the receivables are
stated at cost less impairment losses for bad and doubtful debts.

Trade debtors are assessed for impairment at the end of each reporting period and amounts
impaired are deducted and charged to the Profit and Loss Account.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at
amortised costs using the effective interest method unless the effect of discounting would be
immaterial in which case they are stated at cost.


1 2 One Entertainment (UK) Ltd (Registered number: 07641845)

Notes to the Financial Statements - continued
For The Year Ended 31st May 2017

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income
Statement, except to the extent that it relates to items recognised in other comprehensive
income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have
been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not
reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in
periods different from those in which they are recognised in financial statements. Deferred tax
is measured using tax rates and laws that have been enacted or substantively enacted by the
year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is
probable that they will be recovered against the reversal of deferred tax liabilities or other
future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over
the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

1 2 One Entertainment (UK) Ltd (Registered number: 07641845)

Notes to the Financial Statements - continued
For The Year Ended 31st May 2017

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st June 2016
and 31st May 2017 11,329
DEPRECIATION
At 1st June 2016 6,085
Charge for year 1,311
At 31st May 2017 7,396
NET BOOK VALUE
At 31st May 2017 3,933
At 31st May 2016 5,244

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.5.17 31.5.16
£    £   
Trade debtors 6,634 6,737
Other debtors 3,254 791
9,888 7,528

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.5.17 31.5.16
£    £   
Trade creditors 26,384 9,293
Taxation and social security 18,399 2,128
Other creditors 49,667 25,057
94,450 36,478

1 2 One Entertainment (UK) Ltd (Registered number: 07641845)

Notes to the Financial Statements - continued
For The Year Ended 31st May 2017

7. RELATED PARTY DISCLOSURES

At 31st May 2017 the amount owed to the director Mr E Kennedy by the company was £Nil
(2016: £7,917).

At 31st May 2017 the amount owed to the director Mr P Kennedy by the company was
£46,067 (2016: £Nil. This loan is shown in Other creditors and is repayable on demand.

At 31st May 2017 the amount owed by the company by Eastside Music Publishing Limited
was £1,254 (2016: £791). Eastside Music Publishing Limited is a company owned and
managed by Mr P Kennedy.

8. ULTIMATE CONTROLLING PARTY

The company was controlled by the directors by virtue of their 100% ownership of the issued
shares in the company.

9. FIRST YEAR ADOPTION

These are the first financial statements that comply with FRS 102 Section 1A. The company
transitioned to FRS 102 Section 1A on 1st June 2016.

No transitional adjustments were required in equity or profit or loss for the year.