Registered number: 04959979 | ||||||||
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FOR THE YEAR ENDED 31/01/2018 | ||||||||
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Prepared By: | ||||||||
Taylor & Taylor Accountants Limited | ||||||||
Chartered Accountants | ||||||||
175 Cole Valley Road | ||||||||
Birmingham | ||||||||
West Midlands | ||||||||
B28 0DG |
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Express Music MLC Ltd | ||||||||
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ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/01/2018 | ||||||||
DIRECTORS | ||||||||
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REGISTERED OFFICE | ||||||||
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COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 04959979 | ||||||||
ACCOUNTANTS | ||||||||
Taylor & Taylor Accountants Limited | ||||||||
Chartered Accountants | ||||||||
175 Cole Valley Road | ||||||||
Birmingham | ||||||||
West Midlands | ||||||||
B28 0DG |
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Express Music MLC Ltd | ||||||||
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ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/01/2018 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
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Express Music MLC Ltd | ||||||||
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BALANCE SHEET AT
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2018 | 2017 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 3 |
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CURRENT ASSETS | ||||||||||
Stock |
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Debtors | 5 |
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Cash at bank and in hand |
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254,379 | 322,155 | |||||||||
CREDITORS: Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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134,616 | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS: Amounts falling due after more than one year | 7 | 5,413 | 13,533 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 9 |
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NET ASSETS |
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CAPITAL AND RESERVES | ||||||||||
Called up share capital | 10 |
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Profit and loss account | 126,055 | 125,512 | ||||||||
SHAREHOLDERS' FUNDS |
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Approved by the board on
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............................. | ||||||||||
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Director | ||||||||||
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Express Music MLC Ltd | ||||||||
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NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/01/2018 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
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Plant and Machinery | reducing balance 25% | |||||||
Commercial Vehicles | reducing balance 25% | |||||||
Equipment | reducing balance 25% |
1c. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1d. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. |
1e. Goodwill | ||||||||
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Express Music MLC Ltd | ||||||||
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2. INTANGIBLE FIXED ASSETS | ||||
Purchased | ||||
Goodwill | Total | |||
£ | £ | |||
Cost | ||||
At 01/02/2017 | 100,000 | 100,000 | ||
At 31/01/2018 | 100,000 | 100,000 | ||
Depreciation | ||||
At 01/02/2017 | 100,000 | 100,000 | ||
At 31/01/2018 | 100,000 | 100,000 | ||
Net Book Amounts | ||||
At 31/01/2018 |
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3. TANGIBLE FIXED ASSETS | ||||||||
Plant and | Commercial | |||||||
Machinery | Vehicles | Equipment | Total | |||||
£ | £ | £ | £ | |||||
Cost | ||||||||
At 01/02/2017 | 7,800 | 6,000 | 41,544 | 55,344 | ||||
Additions | - | 8,950 | 1,089 | 10,039 | ||||
Disposals | - | (6,000) | (4,646) | (10,646) | ||||
At 31/01/2018 | 7,800 | 8,950 | 37,987 | 54,737 | ||||
Depreciation | ||||||||
At 01/02/2017 | 3,413 | 5,289 | 34,703 | 43,405 | ||||
Disposals | - | (5,288) | (3,065) | (8,353) | ||||
For the year | 1,097 | 2,238 | 1,588 | 4,923 | ||||
At 31/01/2018 | 4,510 | 2,239 | 33,226 | 39,975 | ||||
Net Book Amounts | ||||||||
At 31/01/2018 |
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14,762 | ||||
At 31/01/2017 |
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11,939 | ||||
4. STOCK | 2018 | 2017 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock |
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Express Music MLC Ltd | ||||||||
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5. DEBTORS | 2018 | 2017 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Prepayments | 1,873 | 5,392 | ||||||
Directors current account | 9,975 | - | ||||||
11,848 | 5,392 | |||||||
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2018 | 2017 | |||||||
£ | £ | |||||||
UK corporation tax | 9,948 | 11,813 | ||||||
VAT | 34,410 | 29,188 | ||||||
PAYE control | 971 | 820 | ||||||
Nest Control | 43 | - | ||||||
Directors current account | - | 39,645 | ||||||
Bank Loan | 8,120 | 8,120 | ||||||
Trade creditors | 70,662 | 85,212 | ||||||
Other creditors | 2,488 | 1,802 | ||||||
Accruals | 8,630 | 10,939 | ||||||
135,272 | 187,539 | |||||||
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2018 | 2017 | |||||||
£ | £ | |||||||
Loans >1yr | 5,413 | 13,533 | ||||||
5,413 | 13,533 | |||||||
8. EMPLOYEES | ||||||
2018 | 2017 | |||||
No. | No. | |||||
Average number of employees | 5 | 4 | ||||
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Express Music MLC Ltd | ||||||||
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9. PROVISIONS FOR LIABILITIES | 2018 | 2017 | ||||||
£ | £ | |||||||
Deferred taxation | 2,301 | 7,509 | ||||||
2,301 | 7,509 | |||||||
10. SHARE CAPITAL | 2018 | 2017 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
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100 | 1 | ||||||
100 | 1 | |||||||