General Information
Listen Creative Limited is a private company, limited by shares, registered in England and Wales, registration number 08537454, registration address Penny Lane Business Centre, 374 Smithdown Road, Liverpool, Merseyside, L15 5AN.
The presentation currency is £ sterling
| 1. |
Accounting Policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Plant and Machinery |
25% Reducing Balance
|
| Fixtures and Fittings |
25% Reducing Balance
|
|
| 2. |
Tangible fixed assets
| Cost |
Plant and Machinery |
|
Fixtures and Fittings |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 June 2018 |
3,817 |
|
8,296 |
|
12,113 |
| Additions |
7,492 |
|
10,000 |
|
17,492 |
| Disposals |
- |
|
- |
|
- |
| At 31 May 2019 |
11,309 |
|
18,296 |
|
29,605 |
| Depreciation |
| At 01 June 2018 |
1,566 |
|
1,972 |
|
3,538 |
| Charge for year |
2,436 |
|
493 |
|
2,929 |
| On disposals |
- |
|
- |
|
- |
| At 31 May 2019 |
4,002 |
|
2,465 |
|
6,467 |
| Net book values |
| Closing balance as at 31 May 2019 |
7,307 |
|
15,831 |
|
23,138 |
| Opening balance as at 01 June 2018 |
2,180 |
|
6,324 |
|
8,504 |
|
| 3. |
Debtors: amounts falling due within one year
|
2019
£ |
|
2018
£ |
| Trade Debtors |
76,711 |
|
43,990 |
| Prepayments & Accrued Income |
1,555 |
|
1,555 |
| Other Debtors |
7,302 |
|
63,265 |
|
85,568 |
|
108,810 |
|
| 4. |
Creditors: amount falling due within one year
|
2019
£ |
|
2018
£ |
| Trade Creditors |
16,532 |
|
38,426 |
| Bank Loans & Overdrafts |
60,404 |
|
40,672 |
| Corporation Tax |
4,968 |
|
8,724 |
| PAYE & Social Security |
1,845 |
|
2,570 |
| Wages & Salaries Control Account |
- |
|
- |
| Director: Nik Davies |
6,752 |
|
- |
| Director: Ian Parnell |
12,900 |
|
- |
| VAT |
5,258 |
|
7,799 |
|
108,659 |
|
98,191 |
|
| 5. |
Creditors: amount falling due after more than one year
|
2019
£ |
|
2018
£ |
| Director Loan: Nik Davies |
- |
|
5,000 |
| Director Loan: Stuart Norris |
52,541 |
|
5,000 |
| Director Loan: Ian Parnell |
- |
|
5,000 |
|
52,541 |
|
15,000 |
|
| 6. |
Share Capital
Authorised
100 Ordinary shares of £1.00 each
1 A Ordinary shares of £1.00 each
1 B Ordinary shares of £1.00 each
1 C Ordinary shares of £1.00 each
1 D Ordinary shares of £1.00 each
Allotted
|
2019
£ |
|
2018
£ |
|
100
Ordinary shares of £1.00 each |
100 |
|
100 |
|
1
A Ordinary shares of £1.00 each |
1 |
|
- |
|
1
B Ordinary shares of £1.00 each |
1 |
|
- |
|
1
C Ordinary shares of £1.00 each |
1 |
|
- |
|
1
D Ordinary shares of £1.00 each |
1 |
|
- |
|
104 |
|
100 |
|
| 7. |
Average No.of Employees
Average number of persons employed by the company in 2019 was 8.
Average number of persons employed by the company in 2018 was 9.
|
2
|
