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REGISTERED NUMBER:
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A.I.R.-EDEL RECORDING STUDIOS LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2017 |
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REGISTERED NUMBER:
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A.I.R.-EDEL RECORDING STUDIOS LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2017 |
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A.I.R.-EDEL RECORDING STUDIOS LIMITED (REGISTERED NUMBER: 00511994) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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A.I.R.-EDEL RECORDING STUDIOS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
2nd Floor Exchange Building |
16 St Cuthberts Street |
Bedford |
Bedfordshire |
MK40 3JG |
A.I.R.-EDEL RECORDING STUDIOS LIMITED (REGISTERED NUMBER: 00511994) |
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BALANCE SHEET |
30 JUNE 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Share premium |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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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 |
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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. |
A.I.R.-EDEL RECORDING STUDIOS LIMITED (REGISTERED NUMBER: 00511994) |
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BALANCE SHEET - continued |
30 JUNE 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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A.I.R.-EDEL RECORDING STUDIOS LIMITED (REGISTERED NUMBER: 00511994) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2017 |
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1. | STATUTORY INFORMATION |
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A.I.R.-Edel Recording Studios Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for the |
goods supplied and services rendered, stated net of discounts and Value Added Tax. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures, fittings and equipment | - |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either |
financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual |
interest in the assets of the company after deducting all of its liabilities. |
A.I.R.-EDEL RECORDING STUDIOS LIMITED (REGISTERED NUMBER: 00511994) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2017 |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | TANGIBLE FIXED ASSETS |
Fixtures, |
fittings |
Plant and | and |
machinery | equipment | Totals |
£ | £ | £ |
COST |
At 1 July 2016 |
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Additions |
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At 30 June 2017 |
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DEPRECIATION |
At 1 July 2016 |
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Charge for year |
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At 30 June 2017 |
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NET BOOK VALUE |
At 30 June 2017 |
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At 30 June 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Prepayments and accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Corporation tax |
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VAT | 17,009 | 16,898 |
Accruals and deferred income |
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A.I.R.-EDEL RECORDING STUDIOS LIMITED (REGISTERED NUMBER: 00511994) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2017 |
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8. | PROVISIONS FOR LIABILITIES |
2017 | 2016 |
£ | £ |
Deferred tax | 13,286 | 15,842 |
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Deferred |
tax |
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Balance at 1 July 2016 |
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Capital allowances in excess |
of depreciation | (2,556 | ) |
Balance at 30 June 2017 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary A shares | £1 | 2,501 | 2,501 |
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Ordinary B Shares | £1 | 2,500 | 2,500 |
5,001 | 5,001 |
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10. | RELATED PARTY DISCLOSURES |
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The immediate parent company is A.I.R Edel Associates Limited, a company registered in England and Wales. |
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The ultimate parent undertaking of A.I.R Edel Recording Associates Limited is Besant Hall Limited, a company registered |
in England and Wales. |
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Ultimate control of the company rests with R C B Cope, director. |
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Included within creditors is an amount of £96,982 (2016: £47,840) due to A.I.R. Edel Associates Limited, the immediate |
parent company. Included within 'Trade Debtors' is an amount of £6,444 (2016: £45,322) due from A.I.R. Edel Associates |
Limited. Included within 'Trade Creditors' is an amount of £1,907 (2016: £6,775) due to A.I.R. Edel Associates Limited. |
No interest has been charged on these balances during the year (2016: £Nil) and no set repayment terms are in place. |
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11. | FIRST YEAR ADOPTION |
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These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 July 2015. |
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No transitional adjustments were required in the financial statements as a result of the adoption of FRS 102. |
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