Medlar Music Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04499831 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2017

for

Medlar Music Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A M Hastings

Mrs A Hastings

SECRETARY:

A M Hastings

REGISTERED OFFICE:

3 Combeside

Lyncombe Vale Road

Bath

BA2 4LU

REGISTERED NUMBER:

04499831 (England and Wales)

ACCOUNTANTS:

Moore Stephens

Chartered Accountants

30 Gay Street

Bath

BA1 2PA

FIXED ASSETS

Tangible assets

3

3,002

1,631

CURRENT ASSETS

Debtors

4

624

22,824

Cash at bank

10,628

7,831

11,252

30,655

CREDITORS

Amounts falling due within one year

5

13,472

11,650

NET CURRENT (LIABILITIES)/ASSETS

(2,220

)

19,005

TOTAL ASSETS LESS CURRENT LIABILITIES

782

20,636

PROVISIONS FOR LIABILITIES

590

326

NET ASSETS

192

20,310

CAPITAL AND RESERVES

Called up share capital

6

2

2

Retained earnings

7

190

20,308

SHAREHOLDERS' FUNDS

192

20,310

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 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 30 April 2018 and were signed on its behalf by:

A M Hastings - Director

1.	STATUTORY INFORMATION

Medlar Music 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.

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 etc

-

33% on cost and 25% on reducing balance

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 August 2016

1,306

21,000

22,306

Additions

-

2,517

2,517

At 31 July 2017

1,306

23,517

24,823

DEPRECIATION

At 1 August 2016

726

19,949

20,675

Charge for year

145

1,001

1,146

At 31 July 2017

871

20,950

21,821

NET BOOK VALUE

At 31 July 2017

435

2,567

3,002

At 31 July 2016

580

1,051

1,631

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Trade debtors

462

462

Other debtors

162

22,362

624

22,824

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Trade creditors

36

400

Taxation and social security

10,738

9,550

Other creditors

2,698

1,700

13,472

11,650

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.17

31.7.16

value:

£

£

2

Ordinary Shares

1

2

2

7.

RESERVES

Retained

earnings

£

At 1 August 2016

20,308

Profit for the year

27,182

Dividends

(47,300

)

At 31 July 2017

190

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company paid Mr and Mrs Hastings £600 (2016: £600) for use of their home as an office

and to cover the costs arising from this.

Included in creditors is £106 (2016: £21,650 in debtors) owed to Mr and Mrs Hastings, directors of the

company. This amount is unsecured, interest free and repayable on demand.