Pinstripe Music Limited
Unaudited Financial Statements
For Filing with Registrar
For the period ended 31 March 2019
Company Registration No. 11250228 (England and Wales)
Pinstripe Music Limited
Company Information
Director
Mr D Cocomazzi
(Appointed 12 March 2018)
Company number
11250228
Registered office
Charlotte Building
17 Gresse Street
London
W1T 1QL
Accountants
Moore Kingston Smith LLP
Charlotte Building
17 Gresse Street
London
W1T 1QL
Business address
Flat 3
24 Horse Fair
Banbury
Oxfordshire
OX16 0AE
Pinstripe Music Limited
Contents
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 4
Pinstripe Music Limited
Balance Sheet
As at 31 March 2019
Page 1
2019
Notes
£
£
Current assets
Cash at bank and in hand
1,117
Creditors: amounts falling due within one year
3
(6,824)
Net current liabilities
(5,707)
Capital and reserves
Called up share capital
4
1
Profit and loss reserves
(5,708)
Total equity
(5,707)
The director of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial period ended 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
T
he director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and signed by the director and authorised for issue on 26 September 2019
Mr D Cocomazzi
Director
Company Registration No. 11250228
Pinstripe Music Limited
Statement of Changes in Equity
For the period ended 31 March 2019
Page 2
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Period ended 31 March 2019:
Loss and total comprehensive income for the period
-
(5,708)
(5,708)
Issue of share capital
4
1
-
1
Balance at 31 March 2019
1
(5,708)
(5,707)
Pinstripe Music Limited
Notes to the Financial Statements
For the period ended 31 March 2019
Page 3
1
Accounting policies
Company information
Pinstripe Music Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Charlotte Building, 17 Gresse Street, London, W1T 1QL.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
These financial statements are prepared on the going concern basis. The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future.
1.3
Reporting period
This is the first company financial statement. The company was incorporated on the 12 March 2018 and these financial statement cover the first period of account from incorporation to 31 March 2019.
1.4
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
1.5
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company
only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.
Pinstripe Music Limited
Notes to the Financial Statements (Continued)
For the period ended 31 March 2019
1
Accounting policies
(Continued)
Page 4
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was 1.
3
Creditors: amounts falling due within one year
2019
£
Other creditors
6,824
4
Called up share capital
2019
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1 each
1
1
During the period, the company issued one ordinary share of £1 .
5
Related party transactions
As at the period ended £5,024 was owed to D. Cocomazzi. This amount is included in other creditors.
6
Controlling party
D. Cocomazzi is the ultimate controlling party by virtue of his majority shareholding in the company.