ACCOUNTS - Final Accounts

Caseware UK (AP4) 2016.0.181 2016.0.181 2017-12-312017-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2017-01-01 05188736 2017-01-01 2017-12-31 05188736 2016-04-01 2016-12-31 05188736 2017-12-31 05188736 2016-12-31 05188736 c:Director1 2017-01-01 2017-12-31 05188736 d:FurnitureFittings 2017-01-01 2017-12-31 05188736 d:FurnitureFittings 2017-12-31 05188736 d:FurnitureFittings 2016-12-31 05188736 d:FurnitureFittings d:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 05188736 d:CurrentFinancialInstruments 2017-12-31 05188736 d:CurrentFinancialInstruments 2016-12-31 05188736 d:CurrentFinancialInstruments d:WithinOneYear 2017-12-31 05188736 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 05188736 d:ShareCapital 2017-12-31 05188736 d:ShareCapital 2016-12-31 05188736 d:RetainedEarningsAccumulatedLosses 2017-12-31 05188736 d:RetainedEarningsAccumulatedLosses 2016-12-31 05188736 d:AcceleratedTaxDepreciationDeferredTax 2017-12-31 05188736 c:OrdinaryShareClass1 2017-01-01 2017-12-31 05188736 c:OrdinaryShareClass1 2017-12-31 05188736 c:FRS102 2017-01-01 2017-12-31 05188736 c:AuditExempt-NoAccountantsReport 2017-01-01 2017-12-31 05188736 c:FullAccounts 2017-01-01 2017-12-31 05188736 c:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05188736

MARDANE LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017


MARDANE LIMITED

CONTENTS

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2 - 6


MARDANE LIMITED REGISTERED NUMBER:05188736

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2017

		2017		2016
Note		£		£

Fixed assets
Tangible assets	4		14,369		19,158
Current assets
Debtors: amounts falling due within one year	5	360,336		184,392
Cash at bank and in hand		722,599		602,176
Current liabilities		1,082,935		786,568
Creditors: amounts falling due within one year	6	(721,089)		(685,972)
Net current assets			361,846		100,596
Total assets less current liabilities			376,215		119,754
Provisions for liabilities
Deferred tax	7		(2,462)		(3,313)
Net assets			373,753		116,441

Capital and reserves
Called up share capital	8	1	1
Profit and loss account		373,752	116,440
		373,753	116,441

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 September 2018.

D J Howard

Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1


MARDANE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

1.	General information

Mardane Limited is a limited liability company incorporated in England and Wales. Its registered office is 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD and its business address is 2nd Floor, Northumberland House, 303 - 306 High Holborn, London, WC1V 7JZ.
The principal activity of the company continued to be that of music publishing, recording and concert performances.
The financial statements are prepared in Sterling (£), which is the functional currency of the company.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of royalties received and receivable net of value added tax together with the value of services supplied during the period.
Royalty income from music publishing, recording and concert performances is accounted for on an accruals basis.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, As stated below.

Depreciation is provided on the following basis:

Fixtures, fittings and equipment

25%

reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

Page 2


MARDANE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

2.Accounting policies (continued)

2.4

Basic financial instruments

The company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to/from related parties.
Trade and other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditor, other creditors and loans from related parties are recognised initially at transaction cost plus attributable transaction cost. Subsequent they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors and loans to related parties.
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty.

2.5

Foreign currency translation

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income.

2.6

Dividends

Equity dividends are recognised when they become legally payable.

Page 3


MARDANE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

2.Accounting policies (continued)

2.7

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Employees

The average monthly number of employees, including directors, during the year was 1 (2016 - 1).

Page 4


MARDANE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

4.	Tangible fixed assets

		Fixtures and fittings
		£
	Cost or valuation
	At 1 January 2017	111,956
	At 31 December 2017	111,956
	Depreciation
	At 1 January 2017	92,798
	Charge for the year on owned assets	4,789
	At 31 December 2017	97,587
	Net book value
	At 31 December 2017	14,369
	At 31 December 2016	19,158

Debtors

					2017	2016
					£	£


Trade debtors	204,949	-
Other debtors	30,648	8,180
Prepayments and accrued income	124,739	176,212
	360,336	184,392

6.	Creditors: Amounts falling due within one year
		2017	2016
		£	£

Bank overdrafts	86	-
Trade creditors	2,628	6,354
Taxation and social security	118,702	74,128
Other creditors	566,865	591,777
Accruals and deferred income	32,808	13,713
	721,089	685,972

Page 5


MARDANE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

7.	Deferred taxation

		2017
		£

	At beginning of year	3,313
	Charged to profit or loss	(851)
	At end of year	2,462

	The provision for deferred taxation is made up as follows:
					2017
					£

Accelerated capital allowances

2,462

8.	Share capital
		2017	2016
		£	£

Allotted, called up and fully paid

1 Ordinary share of £1	1	1

Page 6