Bandmodel Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 02693142

Bandmodel Limited

Filleted Unaudited Financial Statements

30 November 2019

Bandmodel Limited

Statement of Financial Position

30 November 2019

	2019	2018
Note	£	£

Fixed assets

Tangible assets	5	1,714	4,102

Current assets

Debtors	6	62,318	179,291
Cash at bank and in hand		126,567	203,587
		----------	----------
		188,885	382,878

Creditors: amounts falling due within one year	7	9,993	61,446
		----------	----------
Net current assets		178,892	321,432
		----------	----------
Total assets less current liabilities		180,606	325,534
		----------	----------
Net assets		180,606	325,534
		----------	----------

Capital and reserves

Called up share capital	100	100
Profit and loss account	180,506	325,434
	----------	----------
Shareholders funds	180,606	325,534
	----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30th November 2019 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 .

Bandmodel Limited

Statement of Financial Position (continued)

30 November 2019

These financial statements were approved by the board of directors and authorised for issue on 2 March 2020 , and are signed on behalf of the board by:

Mr A M Mortimer

Director

Company registration number: 02693142

Bandmodel Limited

Notes to the Financial Statements

year ended 30th November 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Pendragon House, 65 London Road, St Albans, AL1 1LJ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis and are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is the total amount receivable by the company for publishing and performance work, excluding value added tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Motor vehicle	-	20% straight line
Equipment	-	15% straight line

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2018: 2 ).

5. Tangible assets

	Motor vehicles	Equipment	Total
	£	£	£
Cost
At 1st December 2018	5,218	35,516	40,734
Additions	–	216	216
Disposals	( 5,218)	–	( 5,218)
	-------	--------	--------
At 30th November 2019	–	35,732	35,732
	-------	--------	--------
Depreciation
At 1st December 2018	3,131	33,501	36,632
Charge for the year	–	517	517
Disposals	( 3,131)	–	( 3,131)
	-------	--------	--------
At 30th November 2019	–	34,018	34,018
	-------	--------	--------
Carrying amount
At 30th November 2019	–	1,714	1,714
	-------	--------	--------
At 30th November 2018	2,087	2,015	4,102
	-------	--------	--------

6. Debtors

	2019	2018
	£	£
Trade debtors	1	–
Other debtors	62,317	179,291
	--------	----------
	62,318	179,291
	--------	----------

7. Creditors: amounts falling due within one year

	2019	2018
	£	£
Social security and other taxes	6,993	58,446
Other creditors	3,000	3,000
	-------	--------
	9,993	61,446
	-------	--------

8. Related party transactions

Included in other debtors is £62,317 owing from the directors. This is due to be repaid in April 2020 and interest has been charged at the HMRC authorised rate.