Western Isles Community Radio Limited - Abbreviated accounts 16.3

Western Isles Community Radio Limited - Abbreviated accounts 16.3

WESTERN ISLES COMMUNITY RADIO - Company Information

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REGISTERED NUMBER: SC142936 (Scotland)















WESTERN ISLES COMMUNITY RADIO LIMITED
TRADING AS
ISLES FM

Abbreviated Accounts for the Year Ended 31 March 2016






WESTERN ISLES COMMUNITY RADIO LIMITED (REGISTERED NUMBER: SC142936)
TRADING AS ISLES FM






Contents of the Abbreviated Accounts
for the Year Ended 31 March 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

WESTERN ISLES COMMUNITY RADIO LIMITED
TRADING AS ISLES FM

Company Information
for the Year Ended 31 March 2016







DIRECTORS: A W Macdonald
D Morrison
A G Macaskill
C Nicolson





REGISTERED OFFICE: 26 Lewis Street
Stornoway
Isle of Lewis
HS1 2JF





REGISTERED NUMBER: SC142936 (Scotland)





Page 1
WESTERN ISLES COMMUNITY RADIO LIMITED (REGISTERED NUMBER: SC142936)
TRADING AS ISLES FM

Abbreviated Balance Sheet
31 March 2016

31.3.16 31.3.15
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 5,000 5,000
Tangible assets 3 151,458 163,477
156,458 168,477

CURRENT ASSETS
Debtors 5,243 12,114
Cash at bank and in hand 15,642 13,377
20,885 25,491
CREDITORS
Amounts falling due within one year 3,682 4,173
NET CURRENT ASSETS 17,203 21,318
TOTAL ASSETS LESS CURRENT
LIABILITIES
173,661
189,795

ACCRUALS AND DEFERRED INCOME 113,900 125,999
NET ASSETS 59,761 63,796

RESERVES
Other reserves 134,497 134,497
Income and expenditure account (74,736 ) (70,701 )
59,761 63,796

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 surplus or deficit 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 notes form part of these abbreviated accounts

Page 2 continued...
WESTERN ISLES COMMUNITY RADIO LIMITED (REGISTERED NUMBER: SC142936)
TRADING AS ISLES FM

Abbreviated Balance Sheet - continued
31 March 2016


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 23 December 2016 and were signed on its behalf
by:





D Morrison - Director


The notes form part of these abbreviated accounts

Page 3
WESTERN ISLES COMMUNITY RADIO LIMITED (REGISTERED NUMBER: SC142936)
TRADING AS ISLES FM

Notes to the Abbreviated Accounts
for the Year Ended 31 March 2016

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 January 2015).

Turnover
Turnover represents the value of advertising revenue receivable for the period, excluding VAT.

Ofcom - radio licence
The company purchased a radio licence for a period of 10 years which commences on 1 January 2016. The cost
of the licence will be amortised evenly over the duration of the licence period.

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

Improvements to property - in accordance with the property and 12 years straight line on cost
Equipment - 15% on cost
Computer equipment - 20% on cost

Commencing in the year ended 31 March 2014 the directors consider it prudent to depreciate the remaining net
book value of property improvements over the term of the new broadcast licence of 12 years.

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

Government grants
Revenue grants are released to the profit and loss account in the period the expenditure is incurred.

Capital grants are deferred and released to the profit and loss account over the useful economic life of the assets
to which the grants relate.

Donations
Donations received in connection with the acquisition of capital assets such as the Ofcom radio licence are
deferred in the balance sheet and amortised over the useful economic life of the asset in line with
amortisation/depreciation of the asset.

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2015
and 31 March 2016 5,000
NET BOOK VALUE

At 31 March 2016 5,000
At 31 March 2015 5,000

Page 4 continued...
WESTERN ISLES COMMUNITY RADIO LIMITED (REGISTERED NUMBER: SC142936)
TRADING AS ISLES FM

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 March 2016

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2015 333,712
Additions 4,382
At 31 March 2016 338,094
DEPRECIATION
At 1 April 2015 170,235
Charge for year 16,401
At 31 March 2016 186,636
NET BOOK VALUE
At 31 March 2016 151,458
At 31 March 2015 163,477

Page 5