First Love Records Ltd - Limited company - abbreviated

REGISTERED NUMBER: 02765155 (England and Wales)

FIRST LOVE RECORDS LTD

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

D J Haslam

SECRETARY:

C Ashworth

REGISTERED OFFICE:

76 Manchester Road

Denton

Manchester

M34 3PS

REGISTERED NUMBER:

02765155 (England and Wales)

ACCOUNTANTS:

Usher Spiby & Co

Chartered Accountants

76 Manchester Road

Denton

Manchester

M34 3PS

BANKERS:

National Westminister Bank Plc

437 Wilmslow Road

Withington

Manchester

M20 9AT

FIXED ASSETS

Tangible assets

2

490

830

CURRENT ASSETS

Debtors

3,089

5,089

Cash at bank

2,699

1,979

5,788

7,068

CREDITORS

Amounts falling due within one year

5,667

7,724

NET CURRENT ASSETS/(LIABILITIES)

121

(656

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

611

174

PROVISIONS FOR LIABILITIES

166

NET ASSETS

445

8

CAPITAL AND RESERVES

Called up share capital

3

2

Profit and loss account

443

6

SHAREHOLDERS' FUNDS

445

8

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 29 December 2014 and were signed by:

D J Haslam - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Recording and office equipment

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Deferred tax

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

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

12,188

DEPRECIATION

At 1 April 2013

11,358

Charge for year

340

At 31 March 2014

11,698

NET BOOK VALUE

At 31 March 2014

490

At 31 March 2013

830

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

2

Ordinary

£1

2

First Love Records Ltd - Limited company - abbreviated - 11.6

First Love Records Ltd - Limited company - abbreviated - 11.6