PLAYRECORD.NET_LIMITED - Accounts

PLAYRECORD.NET LIMITED - Company Information

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Company Registration No. 04421245 (England and Wales)

PLAYRECORD.NET LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

PLAYRECORD.NET LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

PLAYRECORD.NET LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

6,145

7,245

Current assets

Stocks

82,379

71,511

Debtors

7,267

Cash at bank and in hand

1,974

1,354

91,620

72,865

Creditors: amounts falling due within one year

(49,713)

(65,670)

Net current assets

41,907

7,195

Total assets less current liabilities

48,052

14,440

Creditors: amounts falling due after more than one year

(174,901)

(180,257)

(126,849)

(165,817)

Capital and reserves

Called up share capital

300

Profit and loss account

(127,149)

(166,117)

Shareholders' funds

(126,849)

(165,817)

For the financial 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.

Directors' responsibilities:

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

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board and authorised for issue on 28 June 2017

Mr A Taylor

Director

Company Registration No. 04421245

PLAYRECORD.NET LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

15% Reducing Balance

Motor vehicles

25% Reducing Balance

1.5

Stock

Stock is valued at the lower of cost and net realisable value.

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Fixed assets

Tangible assets

Cost

At 1 October 2015 & at 30 September 2016

27,559

Depreciation

At 1 October 2015

20,314

Charge for the year

1,100

At 30 September 2016

21,414

Net book value

At 30 September 2016

6,145

At 30 September 2015

7,245

PLAYRECORD.NET LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

300 Ordinary Shares of £1 each

300