O I B Records Limited - Accounts to registrar (filleted) - small 18.2
O I B Records Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 28 MARCH 2017 TO 26 MARCH 2018 |
| FOR |
| O I B RECORDS LIMITED |
| O I B RECORDS LIMITED (REGISTERED NUMBER: 07580406) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 28 MARCH 2017 TO 26 MARCH 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| O I B RECORDS LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 28 MARCH 2017 TO 26 MARCH 2018 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| The Old Casino |
| 28 Fourth Avenue |
| Hove |
| East Sussex |
| BN3 2PJ |
| O I B RECORDS LIMITED (REGISTERED NUMBER: 07580406) |
| BALANCE SHEET |
| 26 MARCH 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| 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. |
| 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 |
| O I B RECORDS LIMITED (REGISTERED NUMBER: 07580406) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 28 MARCH 2017 TO 26 MARCH 2018 |
| 1. | STATUTORY INFORMATION |
| O I B Records Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
| Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
| transactions with wholly owned subsidiaries within the group. |
| Turnover |
| Turnover represents sales of services net of VAT. Turnover is recognised at the point the customer is entitled to |
| consideration. |
| Tangible fixed assets |
| Imprvmts to leasehold | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Taxation |
| Taxation for the period 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. |
| 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 period 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. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| O I B RECORDS LIMITED (REGISTERED NUMBER: 07580406) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 28 MARCH 2017 TO 26 MARCH 2018 |
| 4. | TANGIBLE FIXED ASSETS |
| Imprvmts | Fixtures |
| to | and | Computer |
| leasehold | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 28 March 2017 |
| Additions |
| At 26 March 2018 |
| DEPRECIATION |
| At 28 March 2017 |
| Charge for period |
| At 26 March 2018 |
| NET BOOK VALUE |
| At 26 March 2018 |
| At 27 March 2017 |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| Additions |
| At 26 March 2018 |
| NET BOOK VALUE |
| At 26 March 2018 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Directors' loan accounts | 6,798 | - |
| Accruals |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Tax |
| Social security and other taxes |
| VAT | 33,925 | 62,718 |
| Other creditors |
| Directors' loan accounts | - | 15,270 |
| Deferred income |
| Accrued expenses |
| O I B RECORDS LIMITED (REGISTERED NUMBER: 07580406) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 28 MARCH 2017 TO 26 MARCH 2018 |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2018 | 2017 |
| £ | £ |
| In more than five years |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
| under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
| are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The present value of the future payments is treated as a liability. The interest element of these obligations is |
| recognised using the effective interest method and is charged to profit or loss over the relevant period. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
| lease. |
| Annual rent for the lease is £31,869.00 and the contractual term is of 10 years from and including 8 January 2018 |
| to and including 7 January 2028. |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the periods ended 26 March 2018 and |
| 27 March 2017: |
| 2018 | 2017 |
| £ | £ |
| Balance outstanding at start of period | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of period | ( |
) |
| This balance represented the maximum amount outstanding during the year and the loan is interest free and |
| repayable on demand. |
| Also during the year, the company paid rent amounting to £1,868 (2017: £1,779) as a result of utilising office |
| space within his home. |
| 10. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |
| This was by virtue of his 100% holding of the issued share capital. |