Abbreviated Company Accounts - CENTURY MEDIA RECORDS LIMITED

Abbreviated Company Accounts - CENTURY MEDIA RECORDS LIMITED

CENTURY MEDIA RECORDS LIMITED - Company Information

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Registered Number 03283789

CENTURY MEDIA RECORDS LIMITED

Abbreviated Accounts

30 June 2014

CENTURY MEDIA RECORDS LIMITED Registered Number 03283789

Abbreviated Balance Sheet as at 30 June 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 156,231 164,649
Investments 3 16,900 16,900
173,131 181,549
Current assets
Stocks 211,494 243,196
Debtors 972,184 1,092,632
Cash at bank and in hand 1,737,346 1,443,140
2,921,024 2,778,968
Creditors: amounts falling due within one year (2,587,189) (2,459,479)
Net current assets (liabilities) 333,835 319,489
Total assets less current liabilities 506,966 501,038
Total net assets (liabilities) 506,966 501,038
Capital and reserves
Called up share capital 4 2 2
Profit and loss account 506,964 501,036
Shareholders' funds 506,966 501,038
  • For the year ending 30 June 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 27 February 2015

And signed on their behalf by:
Mrs J Withoeft, Director

CENTURY MEDIA RECORDS LIMITED Registered Number 03283789

Notes to the Abbreviated Accounts for the period ended 30 June 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

The financial statements are prepared in accordance with applicable United Kingdom Accounting
Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied
consistently (except as otherwise stated).

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is
provided at rates calculated to write off the cost less estimated residual value of each asset over its
expected useful life, as follows:
Land and buildings Freehold 2% straight line
Computer equipment 25% reducing balance
Fixtures, fittings & equipment 25% reducing balance
Motor vehicles 25% reducing balance

Other accounting policies
Investments
Fixed asset investments are stated at cost less provision for diminution in value.

Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of
exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

2Tangible fixed assets
£
Cost
At 1 July 2013 282,979
Additions -
Disposals -
Revaluations -
Transfers -
At 30 June 2014 282,979
Depreciation
At 1 July 2013 118,330
Charge for the year 8,418
On disposals -
At 30 June 2014 126,748
Net book values
At 30 June 2014 156,231
At 30 June 2013 164,649

3Fixed assets Investments
Fixed asset investments are stated at cost less provision for diminution in value

4Called Up Share Capital
Allotted, called up and fully paid:
2014
£		 2013
£
2 Ordinary shares of £1 each 2 2