Kind Canyon Records Limited - Period Ending 2017-06-30
Kind Canyon Records Limited - Period Ending 2017-06-30
Registration number:
Kind Canyon Records Limited
for the Year Ended 30 June 2017
Ashcombe Court
Woolsack Way
Godalming
Surrey
GU7 1LQ
Kind Canyon Records Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Kind Canyon Records Limited
Company Information
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Director |
Mr P Cornforth |
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Company secretary |
Mr J Cornforth |
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Registered office |
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Accountants |
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Page 1 |
Kind Canyon Records Limited
(Registration number: 05480030)
Balance Sheet as at 30 June 2017
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Note |
2017 |
2016 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net liabilities |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Director
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Page 2 |
Kind Canyon Records Limited
Notes to the Financial Statements for the Year Ended 30 June 2017
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
56 Underhill Road
London
SE22 0QT
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Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis, as the director continues to provide financial support to the company.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
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Asset class |
Depreciation method and rate |
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Office equipment |
25% on cost |
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Page 3 |
Kind Canyon Records Limited
Notes to the Financial Statements for the Year Ended 30 June 2017
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Studio equipment |
25% on cost |
Website development costs
Website development costs, being the amount paid in connection with developing the company website, is being amortised evenly over its estimated useful life of three years.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
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Intangible assets |
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Website development costs |
Total |
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Cost or valuation |
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At 1 July 2016 |
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At 30 June 2017 |
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Amortisation |
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At 1 July 2016 |
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At 30 June 2017 |
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Carrying amount |
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At 30 June 2017 |
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Tangible assets |
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Studio equipment |
Office equipment |
Total |
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Cost or valuation |
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At 1 July 2016 |
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At 30 June 2017 |
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Depreciation |
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At 1 July 2016 |
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At 30 June 2017 |
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Carrying amount |
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At 30 June 2017 |
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Page 4 |
Kind Canyon Records Limited
Notes to the Financial Statements for the Year Ended 30 June 2017
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Debtors |
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2017 |
2016 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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2017 |
2016 |
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Due within one year |
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Trade creditors |
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Accruals and deferred income |
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Directors' current accounts |
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Share capital |
Allotted, called up and fully paid shares
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2017 |
2016 |
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No. |
£ |
No. |
£ |
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1 |
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1 |
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Transition to FRS 102 |
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Page 5 |