THE_EMERGING_ARTISTS_PART - Accounts

THE EMERGING ARTISTS PARTNERSHIP LTD. - Company Information

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Company Registration No. SC200428 (Scotland)

THE EMERGING ARTISTS PARTNERSHIP LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

THE EMERGING ARTISTS PARTNERSHIP LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

THE EMERGING ARTISTS PARTNERSHIP LTD

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

425

401

Current assets

Stocks

43,655

47,087

Debtors

168,223

160,679

Cash at bank and in hand

275

211,949

208,041

Creditors: amounts falling due within one year

(132,781)

(117,504)

Net current assets

79,168

90,537

Total assets less current liabilities

79,593

90,938

Provisions for liabilities

(72)

(80)

79,521

90,858

Capital and reserves

Called up share capital

18,000

Share premium account

32,000

Profit and loss account

29,521

40,858

Shareholders' funds

79,521

90,858

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 for issue on 26 June 2017

J McDermott

Director

Company Registration No. SC200428

THE EMERGING ARTISTS PARTNERSHIP LTD

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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

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:

Land and buildings Leasehold

25% Straight line

Plant and machinery

50% Straight line

Fixtures, fittings & equipment

25% Straight line

Motor vehicles

25% Straight line

1.5

Stock

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

Fixed assets

Tangible assets

Cost

At 1 October 2015

28,331

Additions

290

Disposals

(873)

At 30 September 2016

27,748

Depreciation

At 1 October 2015

27,930

On disposals

(873)

Charge for the year

266

At 30 September 2016

27,323

Net book value

At 30 September 2016

425

At 30 September 2015

401

THE EMERGING ARTISTS PARTNERSHIP LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

18,000 Ordinary Shares of £1 each

18,000

Ultimate parent company

The parent company is The Emerging Artists Partnership (Holdings) Ltd which holds 100% of the issued share capital of company.