Entertainment Professionals Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 05803861 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

FOR

ENTERTAINMENT PROFESSIONALS

LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

R J Brolly

REGISTERED OFFICE:

5 Argosy Court

Scimitar Way

Whitley Business Park

Coventry

CV3 4GA

REGISTERED NUMBER:

05803861 (England and Wales)

ACCOUNTANTS:

Prime

Chartered Accountants

5 Argosy Court

Scimitar Way

Whitley Business Park

Coventry

CV3 4GA

FIXED ASSETS

Tangible assets

2

14,705

20,131

CURRENT ASSETS

Stocks

-

19,200

Debtors

18,000

5,708

Cash at bank

1,949

1,300

19,949

26,208

CREDITORS

Amounts falling due within one year

61,538

77,787

NET CURRENT LIABILITIES

(41,589

)

(51,579

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(26,884

)

(31,448

)

PROVISIONS FOR LIABILITIES

2,941

4,026

NET LIABILITIES

(29,825

)

(35,474

)

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

(29,925

)

(35,574

)

SHAREHOLDERS' FUNDS

(29,825

)

(35,474

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 12 December 2016 and were signed by:

R J Brolly - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis. The director has confirmed

that in his opinion the Company will have adequate cash resources available to finance its trading and

meet its obligations 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 January 2015).

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.

Plant and machinery

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

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

the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

and 31 May 2016

33,882

DEPRECIATION

At 1 June 2015

13,751

Charge for year

5,426

At 31 May 2016

19,177

NET BOOK VALUE

At 31 May 2016

14,705

At 31 May 2015

20,131

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary £1

£1

100

4.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R Brolly due to his 100% shareholding.