D A Recordings Limited Company Accounts

COMPANY REGISTRATION NUMBER: 06809181

D A RECORDINGS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

30 June 2017

D A RECORDINGS LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 30 JUNE 2017

Contents	Pages

Balance sheet 1

Notes to the financial statements 2 to 4

D A RECORDINGS LIMITED

BALANCE SHEET

30 June 2017

	2017	2016
Note	£	£

Current assets

Debtors	6	92,982	94,412
Cash at bank and in hand		352	346
		------------	------------
		93,334	94,758

Creditors: amounts falling due within one year	7	47,896	47,851
		------------	------------
Net current assets		45,438	46,907
		------------	------------
Total assets less current liabilities		45,438	46,907
		------------	------------
Net assets		45,438	46,907
		------------	------------

Capital and reserves

Called up share capital	8	10,000	10,000
Share premium account		99,000	99,000
Profit and loss account		( 63,562)	( 62,093)
		------------	------------
Members funds		45,438	46,907
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

For the year ending 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

These financial statements were approved by the board of directors and authorised for issue on 19 September 2018 , and are signed on behalf of the board by:

M C Heath
Director

Company registration number: 06809181

D A RECORDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 JUNE 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 35 Westgate, Huddersfield, West Yorkshire, HD1 1PA.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 July 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	5 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	33% straight line

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Intangible assets

	Goodwill
	£
Cost
At 1 July 2016 and 30 June 2017	22,499
	------------
Amortisation
At 1 July 2016 and 30 June 2017	22,499
	------------
Carrying amount
At 30 June 2017	–
	------------

5. Tangible assets

	Equipment
	£
Cost
At 1 July 2016 and 30 June 2017	3,729
	------------
Depreciation
At 1 July 2016 and 30 June 2017	3,729
	------------
Carrying amount
At 30 June 2017	–
	------------

6. Debtors

	2017	2016
	£	£
Corporation tax recoverable	70	–
Other debtors	92,912	94,412
	------------	------------
	92,982	94,412
	------------	------------

7. Creditors: amounts falling due within one year

	2017	2016
	£	£
Trade creditors	20,190	20,190
Accruals and deferred income	9,275	9,286
Corporation tax	70	70
Other creditors	18,361	18,305
	------------	------------
	47,896	47,851
	------------	------------

8. Called up share capital

Issued, called up and fully paid

	2017		2016
	No.	£	No.	£
Ordinary shares of £ 0.01 each	1,000,000	10,000	1,000,000	10,000
	------------	------------	------------	------------

9. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 July 2015.

No transitional adjustments were required in equity or profit or loss for the year.