LMR_ENTERTAINMENT_LIMITED - Accounts

LMR ENTERTAINMENT LIMITED - Company Information

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Company Registration No. 08287613 (England and Wales)

LMR ENTERTAINMENT LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2016

LMR ENTERTAINMENT LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

LMR ENTERTAINMENT LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 NOVEMBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

936

921

Current assets

Debtors

63,466

59,153

Cash at bank and in hand

674

151

64,140

59,304

Creditors: amounts falling due within one year

(161,245)

(159,672)

Net current liabilities

(97,105)

(100,368)

Total assets less current liabilities

(96,169)

(99,447)

(96,169)

(99,447)

Capital and reserves

Called up share capital

Profit and loss account

(96,179)

(99,457)

Shareholders' funds

(96,169)

(99,447)

For the financial year ended 30 November 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 financial statements for the year in question in accordance with section 476;

The director acknowledges his 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 31 August 2017

A Rutherford

Director

Company Registration No. 08287613

LMR ENTERTAINMENT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 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 music management services net of VAT.

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:

Computer equipment

25% straight line

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

1.6

Going concern

The company meets its day to day working capital requirements through funds loaned to the company by the director A Rutherford.

The company's balance sheet at the year-end shows that the liabilities exceed assets by £96,169. Creditors include £157,559 owed to the director A Rutherford, who had given the necessary assurances of continued support to the company such that it is appropriate to prepare these accounts on a going concern basis.

LMR ENTERTAINMENT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 December 2015

3,684

Additions

1,248

At 30 November 2016

4,932

Depreciation

At 1 December 2015

2,763

Charge for the year

1,233

At 30 November 2016

3,996

Net book value

At 30 November 2016

936

At 30 November 2015

921

Share capital

2016

2015

Allotted, called up and fully paid

10 Ordinary shares of £1 each