CENTURY_MEDIA_RECORDS_LTD - Accounts

CENTURY MEDIA RECORDS LIMITED - Company Information

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Company Registration No. 03283789 (England and Wales)

CENTURY MEDIA RECORDS LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2015

CENTURY MEDIA RECORDS LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

CENTURY MEDIA RECORDS LTD

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

156,229

Investments

16,900

173,129

Current assets

Stocks

141,081

211,494

Debtors

1,234,752

972,184

Cash at bank and in hand

1,780,860

1,737,346

3,156,693

2,921,024

Creditors: amounts falling due within one year

(2,319,070)

(2,587,189)

Net current assets

837,623

333,835

Total assets less current liabilities

837,623

506,964

Capital and reserves

Called up share capital

Profit and loss account

837,621

506,962

Shareholders' funds

837,623

506,964

For the financial year ended 30 June 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 17 February 2016

Mr R Kampf

Director

Company Registration No. 03283789

CENTURY MEDIA RECORDS LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2015

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

1.4

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land 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:

Land and buildings Freehold

2% straight line

Computer equipment

25% reducing balance

Fixtures, fittings & equipment

25% reducing balance

Motor vehicles

25% reducing balance

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.6

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

CENTURY MEDIA RECORDS LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 1 July 2014

282,982

Disposals

(282,982)

At 30 June 2015

Depreciation

At 1 July 2014

126,751

On disposals

(130,306)

Charge for the year

3,555

At 30 June 2015

Net book value

At 30 June 2015

At 30 June 2014

173,129

Share capital

2015

2014

Allotted, called up and fully paid

2 ordinary shares of £1 each