The Red Flag Recording Company Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04229050

Abbreviated Unaudited Accounts for the Year Ended 30 June 2014

for

The Red Flag Recording Company Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr B Leahy

Ms T Leahy

SECRETARY:

REGISTERED OFFICE:

9a Burroughs Gardens

London

NW4 4AU

REGISTERED NUMBER:

04229050

ACCOUNTANTS:

Ripe LLP

9a Burroughs Gardens

London

NW4 4AU

FIXED ASSETS

Tangible assets

2

481

642

Investments

3

77

77

558

719

CURRENT ASSETS

Cash at bank

141

15

CREDITORS

Amounts falling due within one year

6,415

6,182

NET CURRENT LIABILITIES

(6,274

)

(6,167

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(5,716

)

(5,448

)

CREDITORS

Amounts falling due after more than one year

1,609,371

1,607,731

NET LIABILITIES

(1,615,087

)

(1,613,179

)

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

(1,615,089

)

(1,613,181

)

SHAREHOLDERS' FUNDS

(1,615,087

)

(1,613,179

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 26 March 2015 and were signed on its behalf by:

Mr B Leahy - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective April 2008).

The financial statements have been prepared on a going concern basis which is dependent on the continued

support of from Dick Leahy Music Limited, which will continue its support for the foreseeable future and no

demand will be made for repayment without first giving twelve months notice. On this basis the directors'

consider the going concern basis to be appropriate. The financial statements do not include any adjustment that

would result from a withdrawal of this support.

Preparation of consolidated financial statements

The financial statements contain information about The Red Flag Recording Company Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The company has taken

the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2013

and 30 June 2014

4,641

DEPRECIATION

At 1 July 2013

3,999

Charge for year

161

At 30 June 2014

4,160

NET BOOK VALUE

At 30 June 2014

481

At 30 June 2013

642

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 July 2013

and 30 June 2014

77

NET BOOK VALUE

At 30 June 2014

77

At 30 June 2013

77

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/6/14

30/6/13

value:

£

£

2

Ordinary

£1

2

2