Company Registration No. 03806434 (England and Wales)
21ST CENTURY ARTISTS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2016
21ST CENTURY ARTISTS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
21ST CENTURY ARTISTS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JULY 2016
31 July 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
671
1,155
Current assets
Debtors
191
191
Cash at bank and in hand
298,863
265,492
299,054
265,683
Creditors: amounts falling due within one year
(39,067)
(34,722)
Net current assets
259,987
230,961
Total assets less current liabilities
260,658
232,116
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
260,656
232,114
Shareholders' funds
260,658
232,116
For the financial year ended 31 July 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 31 March 2017
Mr. N.J.F. Peel
Director
Company Registration No. 03806434
21ST CENTURY ARTISTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 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) and United Kingdom Generally Accepted Accounting Practice for Smaller Entities.
and United Kingdom Generally Accepted Accounting Practice for Smaller Entities.
1.2
Turnover
Turnover represents commissions receivable from services provided to booking agents and managing artists in the field of entertainment, net of VAT.
1.3
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
20% p.a. on a straight line basis
2
Fixed assets
Tangible assets
£
Cost
At 1 August 2015 & at 31 July 2016
2,425
Depreciation
At 1 August 2015
1,270
Charge for the year
484
At 31 July 2016
1,754
Net book value
At 31 July 2016
671
At 31 July 2015
1,155
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2