Ball Music Ltd

Ball Music Ltd

BALL MUSIC LTD - Company Information

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Company Registration No. 09095075 (England and Wales)
Ball Music Ltd Unaudited accounts for the year ended 30 June 2018
Ball Music Ltd Unaudited accounts Contents
Page
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Ball Music Ltd Company Information for the year ended 30 June 2018
Director
Fredrick Ball
Company Number
09095075 (England and Wales)
Registered Office
25A BRONDESBURY VILLAS LONDON NW6 6AH UK
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Ball Music Ltd Statement of financial position as at 30 June 2018
2018 
2017 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
- 
3,708 
Current assets
Debtors
5
31,893 
- 
Cash at bank and in hand
532,499 
118,091 
564,392 
118,091 
Creditors: amounts falling due within one year
6
(474,304)
(49,075)
Net current assets
90,088 
69,016 
Net assets
90,088 
72,724 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
90,087 
72,723 
Shareholders' funds
90,088 
72,724 
For the year ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 1 February 2019.
Fredrick Ball Director Company Registration No. 09095075
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Ball Music Ltd Notes to the Accounts for the year ended 30 June 2018
1
Statutory information
Ball Music Ltd is a private company, limited by shares, registered in England and Wales, registration number 09095075. The registered office is 25A BRONDESBURY VILLAS, LONDON, NW6 6AH, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. 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.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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 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.
Tax
The tax expense for the period comprises current tax. Tax is recognised in the profit and loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. 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 counties where the company operates and generates taxable income.
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Ball Music Ltd Notes to the Accounts for the year ended 30 June 2018
Tangible fixed assets and depreciation
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 is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives , as follows:
Plant & machinery
Studio Equipment 25 % straight Line
Cash and Equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to insignificant risk of change in value.
Trade Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting dated. If there is an unconditional right to defer settlement for at least twelve months after the reporting dated, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share Capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividend
Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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Ball Music Ltd Notes to the Accounts for the year ended 30 June 2018
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 July 2017
14,835 
At 30 June 2018
14,835 
Depreciation
At 1 July 2017
11,127 
Charge for the year
3,708 
At 30 June 2018
14,835 
Net book value
At 30 June 2018
- 
At 30 June 2017
3,708 
5
Debtors
2018 
2017 
£ 
£ 
Accrued income and prepayments
31,893 
- 
6
Creditors: amounts falling due within one year
2018 
2017 
£ 
£ 
Taxes and social security
2,704 
14,766 
Loans from directors
428,860 
32,809 
Accruals
42,740 
1,500 
474,304 
49,075 
7
Average number of employees
During the year the average number of employees was 1 (2017: 1).
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