ACCOUNTS - Final Accounts

EJ ENTERTAINMENTS LIMITED - Company Information

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EJ Entertainments Limited

Registered number: 07644082

Information for filing with the registrar

For the year ended 31 May 2018

EJ ENTERTAINMENTS LIMITED

Registered number: 07644082

BALANCE SHEET

AS AT 31 MAY 2018

		2018		2017
Note		£		£


Current assets
Debtors	4	116,182		26,548
Cash at bank and in hand		15,921		34,776
		132,103		61,324
Creditors: amounts falling due within one year	5	(8,152)		(2,100)

Net assets			123,951		59,224

Capital and reserves
Called up share capital	100	100
Share premium account	99,940	99,940
Profit and loss account	23,911	(40,816)
	123,951	59,224

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

D R Hayes

Director

Date: 6 February 2019

The notes on pages 2 to 3 form part of these financial statements.

Page 1

EJ ENTERTAINMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2018

1.	General information

EJ Entertainments Limited is a private limited company, limited by shares, registered in England. The presentational currency for the financial statements is Pounds Sterling (£). The registered office of the Company is Barrington House, Leake Road, Costock, Leicestershire, LE12 6XA. The principal activity of the Company during the year was that of media promotion, sound recording and publishing activities.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102 ("FRS 102"), the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's's accounting policies.

The following principal accounting policies have been applied:

2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 2

EJ ENTERTAINMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2018

2.Accounting policies (continued)

2.5

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.7

Taxation

Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Employees

The average monthly number of employees, including director, during the year was 1 (2017 - 1).

Debtors

					2018	2017
					£	£


Trade debtors	10,820	26,548
Amounts owed by related undertakings	50,362	-
Other debtors	55,000	-
	116,182	26,548

5.	Creditors: amounts falling due within one year
		2018	2017
		£	£

Corporation tax	5,632	-
Accruals	2,520	2,100
	8,152	2,100

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