Arena Music Co Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 02249986 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

ARENA MUSIC CO LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

B Adams

SECRETARY:

Mrs K L M Adams

REGISTERED OFFICE:

Hatch Farm Studios

Unit 16 Hatch Farm

Addlestone Moor

Addlestone

Surrey

KT15 2EH

REGISTERED NUMBER:

02249986 (England and Wales)

ACCOUNTANTS:

John A Hyde & Co

Hyde House

19 Station Road

Addlestone

Surrey

KT15 2AL

FIXED ASSETS

Intangible assets

3

5

636

Tangible assets

4

1,792

11,472

1,797

12,108

CURRENT ASSETS

Debtors

99

599

Cash at bank

1,559

-

1,658

599

CREDITORS

Amounts falling due within one year

28,627

28,013

NET CURRENT LIABILITIES

(26,969

)

(27,414

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(25,172

)

(15,306

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(25,272

)

(15,406

)

SHAREHOLDERS' FUNDS

(25,172

)

(15,306

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 21 September 2018 and were signed by:

B Adams - Director

1.	STATUTORY INFORMATION

Arena Music Co Ltd 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.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Patents & licences

Where a Licence is acquired for a fixed period of time, amortisation is provided on the cost and charged equally

over the term of the licence.

Tangible fixed assets

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

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

25% on cost

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.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2017

and 31 December 2017

28,202

AMORTISATION

At 1 January 2017

27,566

Amortisation for year

631

At 31 December 2017

28,197

NET BOOK VALUE

At 31 December 2017

5

At 31 December 2016

636

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2017

48,756

Disposals

(22,734

)

At 31 December 2017

26,022

DEPRECIATION

At 1 January 2017

37,284

Charge for year

287

Eliminated on disposal

(13,341

)

At 31 December 2017

24,230

NET BOOK VALUE

At 31 December 2017

1,792

At 31 December 2016

11,472

5.	RELATED PARTY DISCLOSURES

Arena Music Company Limited had the following transactions with MAC Developments Limited, both

companies in which Mr. B. Adams is a Director.

Other Creditors includes an amount of £13,691 due from MAC Developments Limited at 31 December 2017.

6.	ULTIMATE CONTROLLING PARTY

The company was controlled during the current and previous year by B Adams, a director of the company.