Abbreviated Company Accounts - LIVES ON THE GRIND LIMITED

Abbreviated Company Accounts - LIVES ON THE GRIND LIMITED

MEDELICE CAPITAL LTD. - Company Information

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Registered Number 07412031

LIVES ON THE GRIND LIMITED

Abbreviated Accounts

31 October 2016

LIVES ON THE GRIND LIMITED Registered Number 07412031

Abbreviated Balance Sheet as at 31 October 2016

Notes 2016 2015
£ £
Fixed assets
Intangible assets 3 250 500
Tangible assets 4 500 1,000
Investments 5 - -
750 1,500
Current assets
Stocks - -
Debtors 6 - -
Investments - -
Cash at bank and in hand 473 40
473 40
Net current assets (liabilities) 473 40
Total assets less current liabilities 1,223 1,540
Total net assets (liabilities) 1,223 1,540
Reserves
Revaluation reserve 0 1,500
Other reserves 0 0
Income and expenditure account 1,223 40
Members' funds 1,223 1,540
  • For the year ending 31 October 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 28 July 2017

And signed on their behalf by:
Frederic Jean-Baptiste, Director

LIVES ON THE GRIND LIMITED Registered Number 07412031

Notes to the Abbreviated Accounts for the period ended 31 October 2016

1Accounting Policies

Turnover policy
Company never sold a product yet but rather generated expenses to provide recording times and songwriting capabilities for the benefit of the owner - singer / songwriter

Tangible assets depreciation policy
GBP 500 depreciation value per year due to speed of recording studio technology changes

Intangible assets amortisation policy
No amortisation taken into account but rather estimated market value

2Company limited by guarantee
Company is limited by guarantee and consequently does not have share capital.

3Intangible fixed assets
£
Cost
At 1 November 2015 500
Additions -
Disposals -
Revaluations -
Transfers -
At 31 October 2016 500
Amortisation
At 1 November 2015 -
Charge for the year 250
On disposals -
At 31 October 2016 250
Net book values
At 31 October 2016 250
At 31 October 2015 500

Promotional Recorded materials were produced in 2015 & 2016, however low marketing budget and promotional activities decreased the value of intangible assets.

4Tangible fixed assets
£
Cost
At 1 November 2015 1,000
Additions -
Disposals -
Revaluations -
Transfers -
At 31 October 2016 1,000
Depreciation
At 1 November 2015 -
Charge for the year 500
On disposals -
At 31 October 2016 500
Net book values
At 31 October 2016 500
At 31 October 2015 1,000

GBP 500 depreciation value per year due to speed of recording studio technology changes.

5Fixed assets Investments
No Fixed investments were made in 2016.

6Debtors
2016
£		 2015
£
Debtors include the following amounts due after more than one year 0 0

No existing debtors to the company.