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Unaudited Financial Statements for the Year Ended 31 August 2017 |
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Search And Destroy Records Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 August 2017 |
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for |
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Search And Destroy Records Ltd |
Search And Destroy Records Ltd (Registered number: 06694751) |
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Contents of the Financial Statements |
for the Year Ended 31 August 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Search And Destroy Records Ltd |
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Company Information |
for the Year Ended 31 August 2017 |
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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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Search And Destroy Records Ltd (Registered number: 06694751) |
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Balance Sheet |
31 August 2017 |
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31.8.17 | 31.8.16 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 3 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 4 |
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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 |
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Retained earnings | ( |
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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. |
Search And Destroy Records Ltd (Registered number: 06694751) |
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Balance Sheet - continued |
31 August 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
signed on its behalf by: |
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Search And Destroy Records Ltd (Registered number: 06694751) |
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Notes to the Financial Statements |
for the Year Ended 31 August 2017 |
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1. | STATUTORY INFORMATION |
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Search And Destroy Records Ltd is a
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England and Wales. The company's registered number and registered office address can be |
found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
These financial statements for the year ended 31 August 2017 are the first that are prepared |
in accordance with FRS 102 Section 1A. The previous financial statements were prepared in |
accordance with UK GAAP, the date of transition to FRS 102 Section 1A is |
1 September 2015. |
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There are no transitional adjustments from FRSSE (effective January 2015) for the period |
ending 31 August 2016 to FRS 102 Section 1A for the year ending 31 August 2017. |
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Turnover |
Recording and publishing income is recognised when it becomes contractually due. |
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Commission payable, directly relating to such income, is accounted for in the year in which |
the income is recognised. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income |
Statement, except to the extent that it relates to items recognised in other comprehensive |
income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that |
have been enacted or substantively enacted by the balance sheet date. |
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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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Timing differences arise from the inclusion of income and expenses in tax assessments in |
periods different from those in which they are recognised in financial statements. Deferred |
tax is measured using tax rates and laws that have been enacted or substantively enacted |
by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it |
is probable that they will be recovered against the reversal of deferred tax liabilities or other |
future taxable profits. |
Search And Destroy Records Ltd (Registered number: 06694751) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Going concern |
The company's liabilities exceed its assets by £77,965 (2016: £62,791). The directors have |
confirmed their on going financial support of the company and their ability to do so for the |
foreseeable future. For this reason the financial statements have been prepared on a going |
concern basis. |
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3. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.17 | 31.8.16 |
£ | £ |
Trade debtors |
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Other debtors |
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4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.17 | 31.8.16 |
£ | £ |
Trade creditors |
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Other creditors |
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5. | RELATED PARTY DISCLOSURES |
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Raw Power Management Ltd |
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The director, C Jennings, owns 50% share capital of the company. |
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At the year end the company owes Raw Power Management Ltd £55,000 ( 2016: £55,000). |
The amount is classified as a current creditor and is repayable on demand, no interest is |
charged on the amount. |
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6. | ULTIMATE CONTROLLING PARTY |
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Three is no ultimate controlling party as the ownership is divided equally amongst the |
directors. |