PledgeMusic Retail Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 06937194 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

PLEDGEMUSIC RETAIL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J H Varden

B Rogers

REGISTERED OFFICE:

22 Endell Street

London

WC2H 9AD

REGISTERED NUMBER:

06937194 (England and Wales)

ACCOUNTANTS:

Oury Clark Chartered Accountants

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

CURRENT ASSETS

Cash at bank

-

614

CREDITORS

Amounts falling due within one year

3

2,272

360

NET CURRENT (LIABILITIES)/ASSETS

(2,272

)

254

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,272

)

254

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(2,372

)

154

SHAREHOLDERS' FUNDS

(2,272

)

254

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 directors acknowledge their 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 Board of Directors on 6 September 2017 and were signed on its behalf by:

B Rogers - Director

1.	STATUTORY INFORMATION

PledgeMusic Retail 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 accounts have been prepared on the going concern basis as the directors believe this to be the most appropriate basis of

preparation. Should the break up basis of preparation be used, the Directors consider that there would be no adjustment

necessary to the accounts.

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent

that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted

or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Bank loans and overdrafts

89

-

Amounts owed to group undertakings

1,823

-

Other creditors & accruals

360

360

2,272

360

4.	ULTIMATE CONTROLLING PARTY

5.	IMMEDIATE PARENT COMPANY

6.	FIRST YEAR ADOPTION

The company adopted FRS 102 for the accounting period ended 31st December 2016. There were no adjustments arising

at the transition date or at the end of the comparative period, therefore there is no difference between equity under the

previous financial reporting framework and equity under FRS 102.