Ten Live Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC369924 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2019

for

Ten Live Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G Telfer

Mrs J Telfer

SECRETARY:

G Telfer

REGISTERED OFFICE:

Atrium Business Centre

North Caldeen Road

Coatbridge

Lanarkshire

ML5 4EF

REGISTERED NUMBER:

SC369924 (Scotland)

ACCOUNTANTS:

Gordon Ferguson & Co Ltd

Upper Floor

Comac House

2 Coddington Crescent

Eurocentral

Lanarkshire

ML1 4YF

BANKERS:

Royal Bank of Scotland

80 Main Street

Coatbridge

Lanarkshire

ML5 3AJ

FIXED ASSETS

Tangible assets

4

6,354

10,284

CURRENT ASSETS

Stocks

109,679

90,212

Debtors

5

421,924

370,035

Cash at bank

6,339

8,499

537,942

468,746

CREDITORS

Amounts falling due within one year

6

374,505

256,306

NET CURRENT ASSETS

163,437

212,440

TOTAL ASSETS LESS CURRENT LIABILITIES

169,791

222,724

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

169,691

222,624

SHAREHOLDERS' FUNDS

169,791

222,724

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 31 May 2019 and were signed on its behalf by:

G Telfer - Director

Mrs J Telfer - Director

1.	STATUTORY INFORMATION

Ten Live Limited is a private company, limited by shares , registered in Scotland. 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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 year was 18 (2018 - 36 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2018

and 31 March 2019

10,608

12,584

23,192

DEPRECIATION

At 1 April 2018

2,755

10,153

12,908

Charge for year

2,652

1,278

3,930

At 31 March 2019

5,407

11,431

16,838

NET BOOK VALUE

At 31 March 2019

5,201

1,153

6,354

At 31 March 2018

7,853

2,431

10,284

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

404,444

356,181

Other debtors

7,276

-

Inter company loan

8,604

12,254

Prepayments

1,600

1,600

421,924

370,035

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

16,827

26,746

Tax

(4

)

22,620

Social security and other taxes

6,246

11,771

VAT

57,847

39,218

Other creditors

71

212

Invoice Finance

210,193

115,547

Sundry Creditors

1,580

-

Accrued expenses

81,745

40,192

374,505

256,306

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.19

31.3.18

£

£

Invoice Finance

210,193

115,547

The Invoice Finance facility is secured by a bond and floating charge over the company's assets.

8.	RELATED PARTY DISCLOSURES

Gary & Joanne Telfer are also directors of First Foot Management Services Limited.

At 31st March 2019 the company had an inter-company loan balance outstanding from First Foot Management

Services Limited of £8,604 (2018 - £7,254). The loans are interest-free and have no fixed terms of repayments.

The company paid venture fees of £117,000 (2018 - £96,000) during the year to First Foot Management

Services Limited.