Registered Number 03671508
FREAK'N SEE MUSIC LIMITED
Abbreviated Accounts
31 December 2015
Notes | 2015 | 2014 | |
---|---|---|---|
£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
|
|
Investments | 3 |
|
|
|
|
||
Current assets | |||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: amounts falling due within one year |
( |
( |
|
Net current assets (liabilities) |
|
|
|
Total assets less current liabilities |
|
|
|
Total net assets (liabilities) |
|
|
|
Capital and reserves | |||
Called up share capital | 4 |
|
|
Profit and loss account |
|
|
|
Shareholders' funds |
|
|
Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
been prepared under the historical cost convention and in accordance with the Financial
Reporting Standard for Smaller Entities (effective January 2015).
Turnover policy
consultancy and artist management services supplied during the year, exclusive of Value Added
Tax and trade discounts.
Tangible assets depreciation policy
calculated to write off the cost of fixed assets, less their estimated residual value, over their
expected useful lives on the following bases:
Plant and machinery - 33.3% per annum on a straight line basis
Other accounting policies
Investments held as fixed assets are shown at cost less provision for impairment.
Deferred taxation
Full provision is made for deferred tax assets and liabilities arising from all timing differences
between the recognition of gains and losses in the financial statements and recognition in the tax
computation.
A net deferred tax asset is recognised only if it can be regarded as more likely than not that
there will be suitable taxable profits from which the future reversal of the underlying timing
differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the
time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at
rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the
transaction.
Exchange gains and losses are recognised in the Profit and loss account.
£ | |
---|---|
Cost | |
At 1 January 2015 |
|
Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 31 December 2015 |
|
Depreciation | |
At 1 January 2015 |
|
Charge for the year |
|
On disposals |
|
At 31 December 2015 |
|
Net book values | |
At 31 December 2015 | 5,700 |
At 31 December 2014 | 2,981 |
3
Fixed assets Investments
Name: See Sharp Music Limited
Country of incorporation: England & Wales
Class of shares: Ordinary
Holding: 50%
Principal activity: Music publishing
Accounting Reference date: YE 31 January 2015
Aggregate of share capital and reserves £: (5,010)
Profit/ (loss) £: (1,066)
Name: 3I Music Limited
Country of incorporation: England & Wales
Class of shares: Ordinary
Holding:33%
Principal activity: Management consultancy
Accounting Reference date: YE 31 May 2015
Aggregate of share capital and reserves £: (26,854)
Profit/ (loss) £: (24,205)