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Unaudited Financial Statements for the Year Ended 28 February 2017 |
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Focus Business Management Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 28 February 2017 |
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for |
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Focus Business Management Limited |
Focus Business Management Limited (Registered number: 01296905) |
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Contents of the Financial Statements |
for the Year Ended 28 February 2017 |
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Page |
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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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Focus Business Management Limited |
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Company Information |
for the Year Ended 28 February 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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BANKERS: |
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1st Floor |
New Uberior House |
11 Earl Grey Street |
Edinburgh |
EH3 9BN |
Focus Business Management Limited (Registered number: 01296905) |
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Balance Sheet |
28 February 2017 |
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28.2.17 | 29.2.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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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 |
(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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
Focus Business Management Limited (Registered number: 01296905) |
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Balance Sheet - continued |
28 February 2017 |
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The financial statements were approved by the Board of Directors on
signed on its behalf by: |
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Focus Business Management Limited (Registered number: 01296905) |
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Notes to the Financial Statements |
for the Year Ended 28 February 2017 |
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1. | STATUTORY INFORMATION |
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Focus Business Management Limited is a
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England and Wales. The company's registered number and registered office address can be |
found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Tangible fixed assets |
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates |
calculated to write off the cost of fixed assets, less their estimated residual value, over their |
expected useful lives on the following basis: |
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Fixtures & fittings - Depreciated over the remaining life of the lease (being 28 months from |
March 2015 to June 2017). |
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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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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to profit or loss in the period to which they relate. |
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Turnover |
Turnover comprises revenue recognised by the company in respect of goods and services |
supplied during the year, exclusive of Value Added Tax and trade discounts. |
Focus Business Management Limited (Registered number: 01296905) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2017 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
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COST |
At 1 March 2016 |
and 28 February 2017 |
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DEPRECIATION |
At 1 March 2016 |
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Charge for year |
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At 28 February 2017 |
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NET BOOK VALUE |
At 28 February 2017 |
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At 29 February 2016 |
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5. | DEBTORS |
28.2.17 | 29.2.16 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Amounts falling due after more than one year: |
Amounts owed by group undertakings |
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Aggregate amounts |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.17 | 29.2.16 |
£ | £ |
Trade creditors |
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( |
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Social security and other taxes |
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VAT |
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Accruals and deferred income |
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Focus Business Management Limited (Registered number: 01296905) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2017 |
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7. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of exemption, under the terms of Financial Reporting |
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of |
Ireland', not to disclose related party transactions with wholly owned subsidiaries within the |
group. |
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8. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling parties are A J Taylor and R C Smallwood, shareholders of the |
parent company Phantom Music Management Ltd. |
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9. | PENSION |
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The company is a member of The Phantom Music Management Limited group personal |
pension scheme, the assets of which are held separately for each employee in an |
independently administered fund. The pension cost charge represents contributions payable |
by the company and amounted to £37,411 (2016: £38,009). No contributions remained |
payable at the year end date. |
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10. | FIRST YEAR ADOPTION |
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There are no transitional adjustments from FRSSE (effective January 2015) for the year |
ending 29 February 2016 to FRS 102 Section 1A for the year ending 28 February 2017. |
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