|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
For The Year Ended 31st March 2017 |
|
for |
|
Disclosure Music Limited |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
For The Year Ended 31st March 2017 |
|
for |
|
Disclosure Music Limited |
Disclosure Music Limited (Registered number: 08035488) |
|
|
|
|
|
|
Contents of the Financial Statements |
For The Year Ended 31st March 2017 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
Disclosure Music Limited |
|
Company Information |
For The Year Ended 31st March 2017 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Ground Floor |
31 Kentish Town Road |
London |
NW1 8NL |
Disclosure Music Limited (Registered number: 08035488) |
|
Balance Sheet |
31st March 2017 |
|
31.3.17 | 31.3.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Debtors | 5 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
PROVISIONS FOR LIABILITIES | 7 |
|
|
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 8 |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
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. |
Disclosure Music Limited (Registered number: 08035488) |
|
Balance Sheet - continued |
31st March 2017 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the Board of Directors on
signed on its behalf by: |
|
|
|
|
|
|
|
|
|
|
Disclosure Music Limited (Registered number: 08035488) |
|
Notes to the Financial Statements |
For The Year Ended 31st March 2017 |
|
1. | STATUTORY INFORMATION |
|
Disclosure Music Limited is a
|
Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover represents net invoiced fee income for tour and appearances and net invoiced |
advances, excluding valued added tax. |
|
Tangible fixed assets |
Tangible fixed assets are initially measured at cost and subsequently measured at cost or |
valuation, net of depreciation and any impairment losses. |
|
Depreciation is provided at the following rates in order to write off each asset over its |
estimated useful life. |
|
Plant and machinery etc - 25% on reducing balance |
|
The gain or loss arising on the disposal of an asset is determined as the difference between the |
sale proceeds and the carrying value of the asset, and is recognised in the income statement. |
|
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. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
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. |
|
Disclosure Music Limited (Registered number: 08035488) |
|
Notes to the Financial Statements - continued |
For The Year Ended 31st March 2017 |
|
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not |
reversed at the balance sheet date. |
|
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. |
|
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. |
|
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. |
|
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 profit or loss in the period to which they relate. |
|
Financial instruments |
Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised |
cost using the effective interest method, less impairment losses for bad and doubtful debts |
except where the effect of discounting would be immaterial. In such cases, the receivables are |
stated at cost less impairment losses for bad and doubtful debts. |
|
Trade debtors are assessed for impairment at the end of each reporting period and amounts |
impaired are deducted and charged to the Profit and Loss Account. |
|
Trade and other creditors |
Trade and other creditors are initially recognised at fair value and thereafter stated at |
amortised costs using the effective interest method unless the effect of discounting would be |
immaterial in which case they are stated at cost. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
Disclosure Music Limited (Registered number: 08035488) |
|
Notes to the Financial Statements - continued |
For The Year Ended 31st March 2017 |
|
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st April 2016 |
and 31st March 2017 |
|
DEPRECIATION |
At 1st April 2016 |
|
Charge for year |
|
At 31st March 2017 |
|
NET BOOK VALUE |
At 31st March 2017 |
|
At 31st March 2016 |
|
|
5. |
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
|
6. |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
Disclosure Music Limited (Registered number: 08035488) |
|
Notes to the Financial Statements - continued |
For The Year Ended 31st March 2017 |
|
7. | PROVISIONS FOR LIABILITIES |
31.3.17 | 31.3.16 |
£ | £ |
Deferred taxation | 15,361 | 2,874 |
|
Deferred |
tax |
£ |
Balance at 1st April 2016 |
|
Accelerated capital allowance | 12,487 |
Balance at 31st March 2017 |
|
|
8. | CALLED UP SHARE CAPITAL |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.17 | 31.3.16 |
value: | £ | £ |
|
Ordinary | £1 | 2 | 2 |
|
9. | RELATED PARTY DISCLOSURES |
|
Mr G Lawrence |
Director |
|
At the balance sheet date, Mr G Lawrence was owed a sum of £1,569 (2016: £16,117). This |
amount is interest free and payable on demand. This balance is reflected in other creditors. |
|
Mr H Lawrence |
Director |
|
At the balance sheet date, Mr H Lawrence was owed a sum of £14,277 (2016: £8,644). This |
amount is interest free and payable on demand. This balance is reflected in other creditors. |
|
10. | ULTIMATE CONTROLLING PARTY |
|
During the period the company was controlled by Mr G Lawrence and Mr H Lawrence, by |
virtue of their 100% ownership of the issued shares of the company. |
Disclosure Music Limited (Registered number: 08035488) |
|
Notes to the Financial Statements - continued |
For The Year Ended 31st March 2017 |
|
11. | FIRST YEAR ADOPTION |
|
These are the first financial statements that comply with FRS 102 Section 1A. The company |
transitioned to FRS 102 Section 1A on 1st April 2015. |
|
No transitional adjustments were required in equity or profit or loss for the year. |