Acapela Studios Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 06185754 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 August 2015

for

Acapela Studios Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

H Wigley

Mrs C Finch

REGISTERED OFFICE:

Dan y Coed

Main Road

Gwaelod Y Garth

Cardiff

CF15 9HH

REGISTERED NUMBER:

06185754 (England and Wales)

ACCOUNTANTS:

Macey Owen Limited

5, Willow Walk

Cowbridge

Vale of Glamorgan

CF71 7EE

FIXED ASSETS

Tangible assets

2

80,772

67,815

CURRENT ASSETS

Stocks

2,000

Debtors

9,625

10,671

Cash at bank

658

6,718

12,283

19,389

CREDITORS

Amounts falling due within one year

(52,465

)

(49,077

)

NET CURRENT LIABILITIES

(40,182

)

(29,688

)

TOTAL ASSETS LESS CURRENT LIABILITIES

40,590

38,127

PROVISIONS FOR LIABILITIES

(1,076

)

-

NET ASSETS

39,514

38,127

CAPITAL AND RESERVES

Called up share capital

3

41,000

Profit and loss account

(1,486

)

(2,873

)

SHAREHOLDERS' FUNDS

39,514

38,127

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 27 May 2016 and were signed on its behalf by:

H Wigley - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared on the going concern basis, on the understanding that the director and shareholder will continue to

financially support the company for the foreseeable future

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 sales of goods, excluding value added tax.

Tangible fixed assets

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

Land and buildings

-

5% on cost

Plant and machinery etc

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2014

86,884

Additions

19,878

At 31 August 2015

106,762

DEPRECIATION

At 1 September 2014

19,069

Charge for year

6,921

At 31 August 2015

25,990

NET BOOK VALUE

At 31 August 2015

80,772

At 31 August 2014

67,815

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/8/15

31/8/14

value:

£

41,000

Ordinary

£1

41,000

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, Acapela Studios Limited was charged rent from its directors.The rent paid to the director was £5,400 (2014: £5,400)

Included in other creditors is an amount due to the shareholders totalling £30,415 (2014: £35,155)

During the year, the company purchased equipment from Acapela Media Limited at market value. Acapela Media Limited is owned by

common shareholders