Cakewalk Music Limited - Accounts to registrar - small 16.1.1
Cakewalk Music Limited - Accounts to registrar - small 16.1.1
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2017 |
| for |
| CAKEWALK MUSIC LIMITED |
| CAKEWALK MUSIC LIMITED (REGISTERED NUMBER: 08403117) |
| Contents of the Financial Statements |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| CAKEWALK MUSIC LIMITED |
| Company Information |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 3 Godalming Business Centre |
| Woolsack Way |
| Godalming |
| Surrey |
| GU7 1XW |
| CAKEWALK MUSIC LIMITED (REGISTERED NUMBER: 08403117) |
| Balance Sheet |
| 31 MARCH 2017 |
| 2017 | 2016 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Intangible assets |
| Debtors | 3 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 4 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 by: |
| CAKEWALK MUSIC LIMITED (REGISTERED NUMBER: 08403117) |
| Notes to the Financial Statements |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 1. | STATUTORY INFORMATION |
| Cakewalk Music Limited is a |
| 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 |
| The accounts are prepared in Sterling, which is the functional and presentational currency of the entity. |
| Transition to FRS 102 |
| The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has |
| affected the reported financial position and financial performance is given in note 10. |
| Significant judgements and estimates |
| The preparation of financial statements under FRS 102 requires the Company to make estimates and assumptions |
| that affect the application of policies and reported amounts. Estimates and judgements are continually evaluated |
| and are based on historical experience and other factors including expectations of future events that are believed |
| to be reasonable under the circumstances. Actual results may differ from these estimates. The estimates and |
| assumptions which have a risk of causing a material adjustment to the carrying amount of assets and liabilities |
| are discussed below. |
| The directors have considered the above and do not believe that there are any estimates or assumptions which |
| have a significant effect on the amounts recognised in the financial statements that require disclosure. |
| Turnover |
| Turnover represents net invoiced licence fees for music content, excluding value added tax. |
| Intangible assets |
| Intangible assets are stated at the lower of cost and net realisable value. Cost comprises expenditure in respect of |
| the development of a project. Net realisable value is based on estimated revenues less all future costs to |
| completion. Costs are only amortised once they are released over their expected useful economic lives |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
| the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 3. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| CAKEWALK MUSIC LIMITED (REGISTERED NUMBER: 08403117) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade creditors |
| Other creditors |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| A Ordinary shares | £1.00 | 150,000 | 150,000 |
| B Ordinary shares | £1.00 | 1 | 1 |
| 150,001 | 150,001 |
| Details of the various share rights attached to each type of share capital is included in the Articles of Association |
| 6. | RELATED PARTY DISCLOSURES |
| No transactions were undertaken with related parties as such that are required to be disclosed under FRS |
| 102 |
| 7. | ULTIMATE CONTROLLING PARTY |
| The Directors do not consider there to be an ultimate controlling party of the Company. |
| 8. | TRANSITION TO FRS 102 |
| These are the first financial statements that comply with FRS 102. The Company transitioned to FRS 102 on 1 |
| April 2015. |
| No transitional adjustments were required in equity or profit or loss for the year. |