ACCOUNTS - Final Accounts

PIPELINE COMMUNICATIONS LIMITED - Company Information

Registered number: 03028990

PIPELINE COMMUNICATIONS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2019


PIPELINE COMMUNICATIONS LIMITED REGISTERED NUMBER:03028990

BALANCE SHEET

AS AT 31 JANUARY 2019

		2019		2018
		£		£


Current assets
Debtors: amounts falling due within one year	4	1,056		206
Cash at bank and in hand	5	43,846		49,106
		44,902		49,312
Creditors: amounts falling due within one year	6	(44,873)		(49,298)
Net current assets			29		14
Total assets less current liabilities			29		14

Net assets			29		14

Capital and reserves
Called up share capital	7	2	2
Profit and loss account		27	12
		29	14

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 Companies Act 2006.

The director acknowledges his 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 on 10 October 2019.

................................................

P D B Townshend

Director

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


PIPELINE COMMUNICATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2019

1.	General information

Pipeline Communications Limited is a private company, limited by shares and is registered in England and Wales. The company's registration number is 03028990. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
The principal activity of the company continued to be that of the exploitation of musical work.

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, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The company's functional and presentational currency is pound sterling.

2.2

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Royalty income
The income from royalties are recognised when they are receivable and in accordance with the substance of the agreement.

2.3

Interest income

Interest income is recognised in the Profit and loss account using the effective interest method.

2.4

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 corporation 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.

2.5

Debtors

Short term debtors are measured at transaction price, less any impairment.

2.6

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.7

Creditors

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


PIPELINE COMMUNICATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2019

2.Accounting policies (continued)

2.8

Financial instruments

The Company only enters into basic financial instrument 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, loans to related parties and investments in non-puttable ordinary shares.

Employees

The average monthly number of employees, including a director, during the year was 1 (2018 - 1).

Debtors

					2019	2018
					£	£


Other debtors	1,056	206
	1,056	206

5.	Cash
		2019	2018
		£	£

Cash at bank and in hand	43,846	49,106
	43,846	49,106

6.	Creditors: amounts falling due within one year
		2019	2018
		£	£

Corporation tax	3	108
Other creditors	44,870	49,190
	44,873	49,298

7.	Share capital
		2019	2018
		£	£

Allotted, called up and fully paid

2 (2018 - 2) Ordinary shares of £1.00 each	2	2