AUDIOAGENT.COM_LTD - Accounts

FOCALAGENT LIMITED - Company Information

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Company Registration No. 07478014 (England and Wales)

AUDIOAGENT.COM LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2014

AUDIOAGENT.COM LTD

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

AUDIOAGENT.COM LTD

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Intangible assets

18,750

21,875

Tangible assets

33,181

10,576

51,931

32,451

Current assets

Debtors

458,409

338,679

Cash at bank and in hand

391,498

21,118

849,907

359,797

Creditors: amounts falling due within one year

(691,317)

(323,206)

Net current assets

158,590

36,591

Total assets less current liabilities

210,521

69,042

Provisions for liabilities

(6,442)

(1,878)

204,079

67,164

Capital and reserves

Called up share capital

1,000

910

Share premium account

22,410

Profit and loss account

180,669

66,254

Shareholders' funds

204,079

67,164

AUDIOAGENT.COM LTD

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2014

- 2 -

For the financial year ended 31 December 2014 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 14 July 2015

Mr B A Quiney

Director

Company Registration No. 07478014

AUDIOAGENT.COM LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

- 3 -

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 amounts receivable for goods and services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

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:

Fixtures, fittings & equipment

15% reducing balance

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 January 2014

31,250

14,110

45,360

Additions

28,459

At 31 December 2014

31,250

42,569

73,819

Depreciation

At 1 January 2014

9,375

3,533

12,908

Charge for the year

3,125

5,855

8,980

At 31 December 2014

12,500

9,388

21,888

Net book value

At 31 December 2014

18,750

33,181

51,931

At 31 December 2013

21,875

10,576

32,451

AUDIOAGENT.COM LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 4 -

Share capital

2014

2013

Allotted, called up and fully paid

1,000 Ordinary of £1 each

1,000

910

During the year the company issued 90 ordinary £1 shares.