Focus Business Management Limited - Accounts to registrar (filleted) - small 18.2

Focus Business Management Limited - Accounts to registrar (filleted) - small 18.2

FOCUS BUSINESS MANAGEMENT LIMITED - Company Information

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REGISTERED NUMBER: 01296905 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2019

for

Focus Business Management Limited
Focus Business Management Limited (Registered number: 01296905)






Contents of the Financial Statements
for the Year Ended 28 February 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Focus Business Management Limited

Company Information
for the Year Ended 28 February 2019







DIRECTORS: Mr R C Smallwood
Mr A J Taylor



SECRETARY: Mr S H Pennington



REGISTERED OFFICE: Bridle House
36 Bridle Lane
London
W1F 9BZ



REGISTERED NUMBER: 01296905 (England and Wales)



BANKERS: Bank of Scotland
1st Floor
New Uberior House
11 Earl Grey Street
Edinburgh
EH3 9BN
Page 1
Focus Business Management Limited (Registered number: 01296905)

Balance Sheet
28 February 2019

28.2.19 28.2.18
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,202 1,567
Tangible assets 5 - -
1,202 1,567

CURRENT ASSETS
Debtors 6 380,474 517,880
Cash at bank 26,745 102,520
407,219 620,400
CREDITORS
Amounts falling due within one year 7 92,600 306,869
NET CURRENT ASSETS 314,619 313,531
TOTAL ASSETS LESS CURRENT
LIABILITIES
315,821
315,098

CAPITAL AND RESERVES
Called up share capital 101 101
Share premium 1,093,739 1,093,739
Retained earnings (778,019 ) (778,742 )
SHAREHOLDERS' FUNDS 315,821 315,098

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 notes form part of these financial statements

Page 2 continued...
Focus Business Management Limited (Registered number: 01296905)

Balance Sheet - continued
28 February 2019



The financial statements were approved by the Board of Directors on 21 November 2019 and were
signed on its behalf by:





Mr A J Taylor - Director


The notes form part of these financial statements

Page 3
Focus Business Management Limited (Registered number: 01296905)

Notes to the Financial Statements
for the Year Ended 28 February 2019

1. STATUTORY INFORMATION

Focus Business Management Limited is a private company, limited by shares , registered in
England and Wales. 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.

Intangible assets
Stamp duty and relating legal fees are amortised evenly over the term of the lease of 60
months.

Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates
calculated to write off the cost of fixed assets, less their estimated residual value, over their
expected useful lives on the following basis:

Fixtures & fittings - Depreciated over the remaining life of the lease (being 28 months from
March 2015 to June 2017).

Taxation
Taxation for the year 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 year 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.

Page 4 continued...
Focus Business Management Limited (Registered number: 01296905)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2019

2. ACCOUNTING POLICIES - continued

Turnover
Turnover comprises revenue recognised by the company in respect of goods and services
supplied during the year, exclusive of Value Added Tax and trade discounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2018 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2018
and 28 February 2019 1,826
AMORTISATION
At 1 March 2018 259
Charge for year 365
At 28 February 2019 624
NET BOOK VALUE
At 28 February 2019 1,202
At 28 February 2018 1,567

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 March 2018
and 28 February 2019 11,372
DEPRECIATION
At 1 March 2018
and 28 February 2019 11,372
NET BOOK VALUE
At 28 February 2019 -
At 28 February 2018 -

Page 5 continued...
Focus Business Management Limited (Registered number: 01296905)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2019

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.19 28.2.18
£    £   
Trade debtors 174,258 304,163
Amounts owed by group undertakings 199,868 199,868
Other debtors 23 10,843
Prepayments and accrued income 6,325 3,006
380,474 517,880

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.19 28.2.18
£    £   
Trade creditors 63,380 270,213
Tax 538 2,270
Social security and other taxes 4,749 -
VAT 22,321 26,292
Other creditors 1,112 -
Accruals and deferred income 500 8,094
92,600 306,869

8. RELATED PARTY DISCLOSURES

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.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are A J Taylor and R C Smallwood, shareholders of the
parent company Phantom Music Management Ltd (a company register in England and
Wales).

10. PENSION

The company is a member of The Phantom Music Management Limited group personal
pension scheme, the assets of which are held separately for each employee in an
independently administered fund. The pension cost charge represents contributions payable
by the company and amounted to £17,115 (2018: £54,970). £1,112 contributions remain
unpaid at the year end date (2018: no contributions remained unpaid at the year end date).

Page 6