Abbreviated Company Accounts - TRIBE RECORDS LIMITED

Abbreviated Company Accounts - TRIBE RECORDS LIMITED

TRIBE RECORDS LIMITED - Company Information

Print Friendly Version

Registered Number 06903839

TRIBE RECORDS LIMITED

Abbreviated Accounts

31 May 2015

TRIBE RECORDS LIMITED Registered Number 06903839

Abbreviated Balance Sheet as at 31 May 2015

Notes 2015 2014
£ £
Called up share capital not paid - -
Fixed assets
Intangible assets 2 7,629 -
Tangible assets 3 20,937 900
28,566 900
Current assets
Stocks 1,625 4,000
Debtors 4 242,756 77,971
Cash at bank and in hand 99,252 1,212
343,633 83,183
Prepayments and accrued income 14,441 -
Creditors: amounts falling due within one year (155,336) (84,948)
Net current assets (liabilities) 202,738 (1,765)
Total assets less current liabilities 231,304 (865)
Creditors: amounts falling due after more than one year (474,374) (95,000)
Total net assets (liabilities) (243,070) (95,865)
Capital and reserves
Called up share capital 5 100 100
Profit and loss account (243,170) (95,965)
Shareholders' funds (243,070) (95,865)
  • For the year ending 31 May 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 26 February 2016

And signed on their behalf by:
Dean Zepherin, Director

TRIBE RECORDS LIMITED Registered Number 06903839

Notes to the Abbreviated Accounts for the period ended 31 May 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008. The accounts are prepared on a going concern basis. The use of the going concern is appropriate because there are no material uncertainties related to events or conditions that may significantly doubt the ability of the company to continue as a going concern. Financial support continues to be made available in the form of interest free loans from the Director.

Turnover policy
Turnover represents amounts receivable for goods and services net of trade discounts value, net of value added tax and trade discounts, of goods and services provided to customers.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided to write off the cost or valuation of tangible fixed assets over their estimated useful economic lives to any estimated residual value using the following rate: Straight Line Office Equipment 25% Straight Line.

2Intangible fixed assets
£
Cost
At 1 June 2014 0
Additions 7,629
Disposals 0
Revaluations 0
Transfers 0
At 31 May 2015 7,629
Amortisation
At 1 June 2014 0
Charge for the year 0
On disposals 0
At 31 May 2015 0
Net book values
At 31 May 2015 7,629
At 31 May 2014 0
3Tangible fixed assets
£
Cost
At 1 June 2014 4,426
Additions 24,268
Disposals 0
Revaluations 0
Transfers 0
At 31 May 2015 28,694
Depreciation
At 1 June 2014 3,526
Charge for the year 4,231
On disposals 0
At 31 May 2015 7,757
Net book values
At 31 May 2015 20,937
At 31 May 2014 900
4Debtors
2015
£		 2014
£
Debtors include the following amounts due after more than one year 238,473 0
5Called Up Share Capital
Allotted, called up and fully paid:
2015
£		 2014
£
100 Ordinary shares of £1 each 100 100