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Abbreviated Unaudited Accounts for the Year Ended 29 February 2016 |
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Raw Power Management Limited |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts for the Year Ended 29 February 2016 |
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for |
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Raw Power Management Limited |
Raw Power Management Limited (Registered number: 06031020) |
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Contents of the Abbreviated Accounts |
for the Year Ended 29 February 2016 |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
Raw Power Management Limited |
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Company Information |
for the Year Ended 29 February 2016 |
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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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Raw Power Management Limited (Registered number: 06031020) |
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Abbreviated Balance Sheet |
29 February 2016 |
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29.2.16 | 28.2.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Debtors |
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Prepayments and accrued income |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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CAPITAL AND RESERVES |
Called up share capital | 3 |
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Profit and loss account | ( |
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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. |
Raw Power Management Limited (Registered number: 06031020) |
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Abbreviated Balance Sheet - continued |
29 February 2016 |
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The financial statements were approved by the Board of Directors on
signed on its behalf by: |
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Raw Power Management Limited (Registered number: 06031020) |
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Notes to the Abbreviated Accounts |
for the Year Ended 29 February 2016 |
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1. | ACCOUNTING POLICIES |
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Preparation of consolidated financial statements |
The financial statements contain information about Raw Power Management Limited as an |
individual company and do not contain consolidate financial information as the parent of a |
group. The company has taken the option under Section 398 of the Companies act 2006 |
not to prepare consolidated financial statements. |
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Accounting convention |
The financial statements have been 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 |
Turnover is derived from ordinary activities and represents invoiced commission for the |
provision of management services to music artists, net of value added tax. Revenue is |
recognised when the company becomes entitled to commission on its clients income. This |
is deemed to occur upon the completion of deals negotiated by the company on their clients' |
behalf, and upon the subsequent completion of satisfaction of the clients' contractual |
obligations to their customers, even where agreements have yet to be signed. |
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Tangible fixed assets |
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Plant and machinery etc - 25% on cost |
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Furniture, fixtures and fittings (relating to bar refurbishment) - depreciated over the |
remaining length of the property lease . |
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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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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of |
exchange ruling at the balance sheet date. Transactions in foreign currencies are translated |
into sterling at the rate of exchange ruling at the date of transaction. Exchange differences |
are taken into account in arriving at the operating result. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight |
line basis over the period of the lease. |
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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 the profit and loss account in the period to which |
they relate. |
Raw Power Management Limited (Registered number: 06031020) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 29 February 2016 |
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1. | ACCOUNTING POLICIES - continued |
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Directors bonuses |
A proportion of directors' bonuses are paid in advance of the profits on which they are |
calculated and are recorded as an asset on the balance sheet. When the relevant profits |
are eared and it is determined that the bonuses are due the prepaid bonus is then charged |
to the profit and loss account together with any additional amounts calculated as due. |
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Going concern |
At the period end the company's liabilities exceeded its assets by £762,478 (2015: |
£688,769). the company relies on the support of Phantom Music Management Ltd whose |
directors have confirmed its ability to give ongoing financial support to the company for the |
foreseeable future. For this reason the financial statements have been prepare on the going |
concern basis. |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 March 2015 |
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Additions |
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At 29 February 2016 |
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DEPRECIATION |
At 1 March 2015 |
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Charge for year |
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At 29 February 2016 |
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NET BOOK VALUE |
At 29 February 2016 |
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At 28 February 2015 |
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3. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 29.2.16 | 28.2.15 |
value: | £ | £ |
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A Ordinary | £1 |
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B Ordinary | £1 |
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1,000 | 1,000 |
Raw Power Management Limited (Registered number: 06031020) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 29 February 2016 |
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4. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended |
29 February 2016 and 28 February 2015: |
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29.2.16 | 28.2.15 |
£ | £ |
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Balance outstanding at start of year |
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Amounts repaid |
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Balance outstanding at end of year |
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Balance outstanding at start of year |
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Amounts repaid | ( |
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Balance outstanding at end of year |
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Balance outstanding at start of year |
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Amounts repaid |
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Balance outstanding at end of year |
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