Company Registration No. 08216575 (England and Wales)
PRESANA MUSIC LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
PRESANA MUSIC LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
PRESANA MUSIC LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2016
30 September 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
-
1,700
Tangible assets
2
144
165
144
1,865
Current assets
Debtors
-
1,263
Cash at bank and in hand
2,476
1,554
2,476
2,817
Creditors: amounts falling due within one year
(9,941)
(2,460)
Net current liabilities/(assets)
(7,465)
357
Total assets less current liabilities
(7,321)
2,222
Creditors: amounts falling due after more than one year
-
(6,684)
(7,321)
(4,462)
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
(7,322)
(4,463)
Shareholders' funds
(7,321)
(4,462)
For the financial year ended 30 September 2016 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 30 June 2017
Mr C B Lennox
Director
Company Registration No. 08216575
PRESANA MUSIC LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 2 -
1
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).
1.3
Turnover
Turnover represents amounts receivable for music fees and royalties net of VAT .music fees and royalties net of VAT.
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:
Fixtures, fittings & equipment
12.5 % Straight line
2
Fixed assets
Tangible assets
£
Cost
At 1 October 2015
2,196
Additions
51
At 30 September 2016
2,247
Depreciation
At 1 October 2015
2,031
Charge for the year
72
At 30 September 2016
2,103
Net book value
At 30 September 2016
144
At 30 September 2015
1,865
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 Ordinary share of £1 each
1
1