Western Isles Community Radio Limited - Accounts to registrar (filleted) - small 17.3
Western Isles Community Radio Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| WESTERN ISLES COMMUNITY RADIO LIMITED |
| TRADING AS |
| ISLES FM |
| Unaudited Financial Statements for the Year Ended 31 March 2017 |
| WESTERN ISLES COMMUNITY RADIO LIMITED (REGISTERED NUMBER: SC142936) |
| TRADING AS ISLES FM |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| WESTERN ISLES COMMUNITY RADIO LIMITED |
| TRADING AS ISLES FM |
| Company Information |
| for the Year Ended 31 March 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| WESTERN ISLES COMMUNITY RADIO LIMITED (REGISTERED NUMBER: SC142936) |
| TRADING AS ISLES FM |
| Balance Sheet |
| 31 March 2017 |
| 31.3.17 | 31.3.16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| ACCRUALS AND DEFERRED INCOME |
| NET ASSETS |
| RESERVES |
| Other reserves |
| Income and expenditure account | ( |
) | ( |
) |
| 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 surplus or deficit 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. |
| WESTERN ISLES COMMUNITY RADIO LIMITED (REGISTERED NUMBER: SC142936) |
| TRADING AS ISLES FM |
| Balance Sheet - continued |
| 31 March 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors on by: |
| WESTERN ISLES COMMUNITY RADIO LIMITED (REGISTERED NUMBER: SC142936) |
| TRADING AS ISLES FM |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2017 |
| 1. | STATUTORY INFORMATION |
| Western Isles Community Radio Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| The financial statements are rounded to the nearest £1. |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
| These financial statements for the year ended 31 March 2017 are the first that are prepared in accordance with |
| FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of |
| transition to FRS 102 Section 1A is 1 April 2015. |
| Significant judgements and estimates |
| The area of the accounts where significant judgements and estimates are used is within fixed assets and deferred |
| government grants. Estimates are made of both the useful economic life of assets and of any residual value |
| attached to those assets which in turn determines the depreciation rates and charges in the accounts. |
| As the release of the deferred grants is based on the rates of depreciation charged on the assets acquired with the |
| grant funding then the rate of release of the grant is also based on these judgements and estimates. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
| less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Improvements to property | - |
| Equipment | - |
| Computer equipment | - |
| WESTERN ISLES COMMUNITY RADIO LIMITED (REGISTERED NUMBER: SC142936) |
| TRADING AS ISLES FM |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 3. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
| 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. |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 April 2016 |
| and 31 March 2017 |
| AMORTISATION |
| Charge for year |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| WESTERN ISLES COMMUNITY RADIO LIMITED (REGISTERED NUMBER: SC142936) |
| TRADING AS ISLES FM |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements |
| Freehold | to | Computer |
| property | property | Equipment | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 April 2016 |
| Additions |
| At 31 March 2017 |
| DEPRECIATION |
| At 1 April 2016 |
| Charge for year |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.17 | 31.3.16 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.17 | 31.3.16 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |