CROCODILE_MUSIC_LIMITED - Accounts

CROCODILE MUSIC LIMITED - Company Information

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Company Registration No. 03181711 (England and Wales)

CROCODILE MUSIC LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2013

CROCODILE MUSIC LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2013

- 1 -

2013

2012

Notes

Fixed assets

Tangible assets

390

1,017

Current assets

Debtors

19,014

7,946

Cash at bank and in hand

6,841

19,010

25,855

26,956

Creditors: amounts falling due within one year

(26,243)

(27,643)

Net current liabilities

(388)

(687)

Total assets less current liabilities

330

Capital and reserves

Called up share capital

Profit and loss account

329

Shareholders' funds

330

For the financial year ended 31 December 2013 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 18 July 2014

M A Ironton

Director

Company Registration No. 03181711

CROCODILE MUSIC LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2013

- 2 -

Accounting policies

1.1

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).

1.2

Compliance with accounting standards

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).

1.3

Turnover

Turnover represents music royalties and fees receivable net of VAT.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets 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:

Computer equipment

25% straight line

Fixtures, fittings & equipment

15% straight line

Fixed assets

Tangible assets

Cost

At 1 January 2013 & at 31 December 2013

8,554

Depreciation

At 1 January 2013

7,537

Charge for the year

627

At 31 December 2013

8,164

Net book value

At 31 December 2013

390

At 31 December 2012

1,017

Share capital

2013

2012

Allotted, called up and fully paid

1 Ordinary shares of £1 each

CROCODILE MUSIC LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2013

- 3 -

Related party relationships and transactions

Loans to directors

The following director had a loan during the year. The movement on this loan is as follows:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

M A Ironton

4.00

36,414

386

(25,998)

10,802

36,414

386

(25,998)

10,802

Related party transactions

During the year Crocodile Records International Limited were charged £nil (2012: £923) in respect of rent and services.

During the year Crocodile Records International Limited loaned Crocodile Music Limited £nil (2012: £nil) and Crocodile Music Limited loaned Crocodile Records International Limited £nil (2012: £125). At the balance sheet date an amount of £nil (2012: £266) was due to Crocodile Records International Limited. This is included in other creditors.

Crocodile Records International Limited is a related party as M A Ironton is a shareholder in both Crocodile Records International Limited and Crocodile Music Limited.

During the year Creative Media Alliance Limited charged Crocodile Music Limited £6,279 (2012: £7,569) in respect of rent and services for the year. At the balance sheet date an amount of £nil (2012: £nil) was due to Creative Media Alliance Limited.

Creative Media Alliance Limited is a related party as M A Ironton is a shareholder in both Creative Media Alliance Limited and Crocodile Music Limited.