Musicalia Ltd Small abbreviated accounts

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COMPANY REGISTRATION NUMBER 08207596

MUSICALIA LTD

UNAUDITED ABBREVIATED ACCOUNTS

PERIOD ENDED

30 September 2016

MMA PARTNERSHIP LLP

Chartered Certified Accountants

6 Bruce Grove

London

N17 6RA

MUSICALIA LTD

ABBREVIATED BALANCE SHEET

30 September 2016

		2016		2015
Note		£	£	£
FIXED ASSETS	2
Tangible assets			1,716	2,010
			-------	-------

CURRENT ASSETS

Debtors	4,040		40
Cash at bank and in hand	215		16,505
	-------		---------
	4,255		16,545
CREDITORS: Amounts falling due within one year	5,036		17,732
	-------		---------
NET CURRENT LIABILITIES		( 781)	( 1,187)
		-------	-------
TOTAL ASSETS LESS CURRENT LIABILITIES		935	823

PROVISIONS FOR LIABILITIES	343	402
	----	----
	592	421
	----	----

CAPITAL AND RESERVES

Called up equity share capital	3	100	100
Profit and loss account		492	321
		----	----
SHAREHOLDERS' FUNDS		592	421
		----	----

For the year ended 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved and signed by the director and authorised for issue on 21 June 2017 .

N F Calado Dias Da Fonseca

Company Registration Number: 08207596

MUSICALIA LTD

NOTES TO THE ABBREVIATED ACCOUNTS

YEAR ENDED 30 SEPTEMBER 2016

1. ACCOUNTING POLICIES

Basis of accounting

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).

Revenue recognition

Turnover comprises sales of Music consultancy and related services to external customers after discounts, excluding Value Added Tax. Sales are recognised on consultancy by reference to the basis of work done over the period of the contract. Sales of related services are recognised upon commencement of the specified work.

Fixed assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings-25% straight line basis

Deferred taxation

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 a right to pay less or to receive more tax, with the following exceptions:

Provision 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 assets, 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 the director considers that it 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

2. FIXED ASSETS

	Tangible Assets
	£

COST

At 1 October 2015	4,448
Additions	278
	-------
At 30 September 2016	4,726
	-------

DEPRECIATION

At 1 October 2015	2,438
Charge for year	572
	-------
At 30 September 2016	3,010
	-------

NET BOOK VALUE

At 30 September 2016	1,716
	-------

At 30 September 2015	2,010
	-------

3. SHARE CAPITAL

Allotted, called up and fully paid:

	2016		2015
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----