Medlar Music Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04499831 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 July 2015

for

Medlar Music Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr A M Hastings

Mrs A Hastings

REGISTERED OFFICE:

3 Combeside

Lyncombe Vale Road

Bath

BA2 4LU

REGISTERED NUMBER:

04499831 (England and Wales)

ACCOUNTANTS:

Moore Stephens

Chartered Accountants

30 Gay Street

Bath

BA1 2PA

FIXED ASSETS

Tangible assets

2

2,309

2,029

CURRENT ASSETS

Debtors

2,940

611

Cash at bank

5,155

6,394

8,095

7,005

CREDITORS

Amounts falling due within one year

14,533

11,586

NET CURRENT LIABILITIES

(6,438

)

(4,581

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,129

)

(2,552

)

PROVISIONS FOR LIABILITIES

462

406

NET LIABILITIES

(4,591

)

(2,958

)

CAPITAL AND RESERVES

Called up share capital

3

2

Profit and loss account

(4,593

)

(2,960

)

SHAREHOLDERS' FUNDS

(4,591

)

(2,958

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 25 May 2016 and were signed on its
behalf by:

Mr A M Hastings - 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

The turnover shown in the profit and loss account represents amounts invoiced during the year,

exclusive of Value Added Tax.

In respect of long-term contracts for on-going services, turnover represents the value of work done

in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts

and contracts for on-going services is recognised by reference to the stage of completion.

Fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

All fixed Assets are initially recorded at cost.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date where transactions or events have occurred at that date that will result in

an obligation to pay more, or right to pay less or to receive more tax, with the following exceptions.

Provisions is made for tax on gains arising from the revaluation (and similar fair value adjustments)

of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement

assess only to the extent that, at the balance sheet date, there is a binding agreement to dispose of

the assets concerned. However, no provision is made where, on the basis of all available evidence at

the balance sheet date, it is more likely than not that the taxable gain will be rolled over into

replacement assets and charged to tax only where the replacement assets are sold

Deferred tax assets are recognised only to the extent that directors consider that is more likely than

not that there will be suitable taxable profits from which the future reversal of the underlying timing

differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the

periods in which timing differences reverse, based on tax rates and laws enacted or substantively

enacted at the balance sheet date.

Financial instruments

Financial Liabilities and equity instruments are classified according to the contractual arrangements

entered into. An equity instrument is any contract that evidences a residual interest in the assets of

the entity after deducting all of its financial liabilities.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2014

17,855

Additions

2,394

At 31 July 2015

20,249

DEPRECIATION

At 1 August 2014

15,826

Charge for year

2,114

At 31 July 2015

17,940

NET BOOK VALUE

At 31 July 2015

2,309

At 31 July 2014

2,029

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.15

31.7.14

value:

£

2

Ordinary Shares

£1

2

4.	TRANSACTIONS WITH DIRECTORS

As at the balance sheet date the company owed £1,550 (2014: £1,100) to Mr Hastings, a director of

the company. The money lent was interest free and unsecured and there is no timescale for

repayment.

During the year the company paid Mr Hastings £450 (2014: £600) for use of his home as an office

and to cover the costs arising from this.