The Music Shipping Company Limited
|
For the period ended 31 March 2017
Abbreviated Accounts
England and Wales
Registered Number: 05714679
Abbreviated Balance Sheet
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The Music Shipping Company Limited
2017
2015
2
-
5,000
3
14,327
14,500
14,327
19,500
115,737
71,997
69,330
31,839
1,985
1,582
105,821
186,649
Creditors
:
amounts falling due within one year
|
(85,366)
(41,313)
101,283
64,508
Net current assets
Total assets less current liabilities
|
78,835
120,783
Creditors
:
amounts falling due after more than one year
|
(181,987)
(197,046)
(118,211)
Net liabilities
(61,204)
100
4
100
(118,311)
(61,304)
(118,211)
(61,204)
Shareholders funds
For the period ended 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476;
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2) The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
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These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Date approved by the board: 18 December 2017
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Signed on behalf of the board of directors
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1 of 3
Notes to the Abbreviated Financial Statements
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The Music Shipping Company Limited
For the period ended 31 March 2017
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet
|
date
.
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction
.
All foreign exchange differences are
|
included to the profit and loss account
.
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Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
|
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Computer Equipment
Motor Vehicles
Fixtures and Fittings
2
Intangible fixed assets
|
100,000
100,000
95,000
5,000
Charge for period
100,000
-
5,000
2 of 3
Notes to the Abbreviated Financial Statements
|
The Music Shipping Company Limited
For the period ended 31 March 2017
66,472
6,367
72,839
51,972
6,540
Charge for period
58,512
14,327
14,500
Allotted called up and fully paid
|
2017
2015
100
Ordinary Shares shares of £
1
.
00
each
|
100
100
100
100
3 of 3