Polar Songs Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 06954690 (England and Wales)

Abbreviated Unaudited Accounts

For The Year Ended 31st March 2015

for

Polar Songs Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr N J Connolly

Mr G Lightbody

Mr J G Quinn

REGISTERED OFFICE:

Ground Floor

31 Kentish Town Road

London

NW1 8NL

REGISTERED NUMBER:

06954690 (England and Wales)

ACCOUNTANTS:

C.C. Panayi & Co LLP

Ground Floor

31 Kentish Town Road

London

NW1 8NL

CURRENT ASSETS

Debtors

19,737

11,483

Cash at bank

9,249

41,635

28,986

53,118

CREDITORS

Amounts falling due within one year

32,515

53,898

NET CURRENT LIABILITIES

(3,529

)

(780

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,529

)

(780

)

CAPITAL AND RESERVES

Called up share capital

2

3

3

Profit and loss account

(3,532

)

(783

)

SHAREHOLDERS' FUNDS

(3,529

)

(780

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2015 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 17th December 2015 and were signed on its behalf by:

Mr N J Connolly - Director

Mr G Lightbody - Director

Mr J G Quinn - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in

accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced royalties receivable, excluding value added tax.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange

ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling

at the rate of exchange ruling at the date of transaction. Exchange differences are taken into

account in arriving at the operating result.

Going concern

These financial statements have been prepared on a going concern basis. The company

sustained a loss during the period and had net liabilities at the Balance Sheet date. The

directors are confident that the net liabilities will be reversed once the company is fully

operational and undertake to continue to support the company until such time.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

£

3

Ordinary

£1

3

3