Company Registration No. 03382101 (England and Wales)
OLDHAM FM LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
OLDHAM FM LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
OLDHAM FM LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
14,096
10,460
Current assets
Debtors
57,481
62,441
Cash at bank and in hand
20,164
9,256
77,645
71,697
Creditors: amounts falling due within one year
3
(123,267)
(203,901)
Net current liabilities
(45,622)
(132,204)
Total assets less current liabilities
(31,526)
(121,744)
Creditors: amounts falling due after more than one year
(118,975)
(150,475)
(150,501)
(272,219)
Capital and reserves
Called up share capital
4
850,000
850,000
Profit and loss account
(1,000,501)
(1,122,219)
Shareholders'  funds
(150,501)
(272,219)
For the financial year ended 31 March 2015 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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 20 July 2015
Mr M Ramsbottom
Director
Company Registration No. 03382101
OLDHAM FM LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 2 -
1
Accounting policies
1.1
Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The company continues to rely upon the ongoing financial support of its creditors, particularly its bankers and its director and his immediate family to facilitate a continuation of the trading activity. The director has agreed only to seek repayment of his loan account funding in small tranches as and when cashflow permits. The company has agreed a debt restructuring plan with its creditors in respect of its debts. The director has a reasonable expectation that the company will achieve net profitability during forthcoming years. Consequently and on the basis that the company expects to be able to fund its debt restucturing plan, the director is able to prepare the financial statements on the basis of the going concern concept.

1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
20% reducing balance
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2014
20,430
Additions
7,160
At 31 March 2015
27,590
Depreciation
At 1 April 2014
9,970
Charge for the year
3,524
At 31 March 2015
13,494
Net book value
At 31 March 2015
14,096
At 31 March 2014
10,460
OLDHAM FM LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £8,333 (2014 - £20,833).
4
Share capital
2015
2014
£
£
Allotted, called up and fully paid
850,000 Ordinary of £1 each
850,000
850,000
5
Ultimate parent company

The ultimate parent company is Credible Media Limited, a company registered in England and Wales.

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