Digimode Entertainment Limited - Accounts to registrar - small 17.2

Digimode Entertainment Limited - Accounts to registrar - small 17.2

DIGIMODE ENTERTAINMENT LIMITED - Company Information

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REGISTERED NUMBER: 03103594 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

DIGIMODE ENTERTAINMENT LIMITED

DIGIMODE ENTERTAINMENT LIMITED (REGISTERED NUMBER: 03103594)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Accountants' Report 6

DIGIMODE ENTERTAINMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2016







DIRECTOR: M H A Dapp - van de Nes





REGISTERED OFFICE: 20 Havelock Road
HASTINGS
East Sussex
TN34 1BP





REGISTERED NUMBER: 03103594 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP
Page 1
DIGIMODE ENTERTAINMENT LIMITED (REGISTERED NUMBER: 03103594)

BALANCE SHEET
31 DECEMBER 2016

31.12.16 31.12.15
Notes €    €    €    €   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,935 2,423
1,935 2,423

CURRENT ASSETS
Stocks 6 133,414 160,952
Debtors 7 33,200 90,930
Cash at bank 8,784 59,425
175,398 311,307
CREDITORS
Amounts falling due within one year 8 324,062 401,543
NET CURRENT LIABILITIES (148,664 ) (90,236 )
TOTAL ASSETS LESS CURRENT LIABILITIES (146,729 ) (87,813 )

CAPITAL AND RESERVES
Called up share capital 1,497 1,497
Retained earnings (148,226 ) (89,310 )
SHAREHOLDERS' FUNDS (146,729 ) (87,813 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each
financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and
which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable
to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 22 September 2017 and were signed by:





M H A Dapp - van de Nes - Director


The notes form part of these financial statements

Page 2
DIGIMODE ENTERTAINMENT LIMITED (REGISTERED NUMBER: 03103594)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016

1. STATUTORY INFORMATION

Digimode Entertainment Limited is a private company, limited by shares , registered in England and Wales. The company's
registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors have made an assessment and do not consider there to be any material uncertainties about the company's
ability to continue as a going concern. As a result they have adopted the going concern basis of accounting.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial
Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly
owned subsidiaries within the group.


Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added
tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving
items.

Foreign currencies
Assets and liabilities in foreign currencies are translated into euros at the rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into euros at an average rate for the year. Exchange differences are taken
into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

Page 3 continued...
DIGIMODE ENTERTAINMENT LIMITED (REGISTERED NUMBER: 03103594)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
€   
COST
At 1 January 2016 198,827
Disposals (198,827 )
At 31 December 2016 -
AMORTISATION
At 1 January 2016 198,827

Eliminated on disposal (198,827 )
At 31 December 2016 -
NET BOOK VALUE
At 31 December 2016 -
At 31 December 2015 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
€   
COST
At 1 January 2016 20,104
Additions 1,498
Disposals (19,204 )
At 31 December 2016 2,398
DEPRECIATION
At 1 January 2016 17,681
Charge for year 163
Eliminated on disposal (17,381 )
At 31 December 2016 463
NET BOOK VALUE
At 31 December 2016 1,935
At 31 December 2015 2,423

6. STOCKS
31.12.16 31.12.15
€    €   
Finished goods 133,414 160,952

Page 4 continued...
DIGIMODE ENTERTAINMENT LIMITED (REGISTERED NUMBER: 03103594)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.16 31.12.15
€    €   
Trade debtors 22,377 45,209
Prepayments and accrued income 10,823 45,721
33,200 90,930

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.16 31.12.15
€    €   
Trade creditors 32,910 35,157
Amounts owed to group undertakings 290,886 365,886
VAT 266 500
324,062 401,543

9. RELATED PARTY DISCLOSURES

With effect from 1st January 2014 Digimode Entertainment Ltd took over the business, assets and liabilities of Music
products BV, a company within the same group. This resulted in stock, debtors and other assets totalling 512,274 euros
being received and Digimode's corresponding liability to Music products BV being transferred to the parent company Neda
Beheer BV.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M H A Dapp - van de Nes.

11. GOING CONCERN

Although liabilities exceed assets, the accounts have been prepared on a going concern basis as the company continues to
have the support of it's director and shareholders.

Page 5
ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
DIGIMODE ENTERTAINMENT LIMITED

The following reproduces the text of the report prepared for the director and members in respect of the company's
annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required
to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and
the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial
statements of Digimode Entertainment Limited for the year ended 31 December 2016 which comprise the Income Statement,
Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given
us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Digimode Entertainment Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Digimode Entertainment Limited and state those matters that we have agreed to state to the director of Digimode Entertainment Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Digimode Entertainment Limited director for our work or for this report.

It is your duty to ensure that Digimode Entertainment Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Digimode Entertainment Limited. You consider that Digimode Entertainment Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Digimode Entertainment Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP


22 September 2017

This page does not form part of the statutory financial statements

Page 6