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Unaudited Financial Statements for the Year Ended 28 February 2022 |
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Pop Audio Ltd |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 28 February 2022 |
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Pop Audio Ltd |
Pop Audio Ltd (Registered number: 08914228) |
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Contents of the Financial Statements |
for the Year Ended 28 February 2022 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Pop Audio Ltd |
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Company Information |
for the Year Ended 28 February 2022 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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6a St Andrews Court |
Wellington Street |
Thame |
Oxfordshire |
OX9 3WT |
Pop Audio Ltd (Registered number: 08914228) |
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Abridged Balance Sheet |
28 February 2022 |
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28.2.22 | 28.2.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
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CREDITORS |
Amounts falling due after more than one year |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their 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. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Pop Audio Ltd (Registered number: 08914228) |
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Notes to the Financial Statements |
for the Year Ended 28 February 2022 |
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1. | STATUTORY INFORMATION |
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Pop Audio Ltd is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The accounts have been prepared on the going concern basis. Despite the company having negative assets, the directors believe the company will begin to generate profits within the foreseeable future. The company's major creditors have agreed not to seek repayment of their loans until the company is in a stable condition, and so the company expects to be able to continue to meet its debts as they fall due. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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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. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2021 - NIL). |
Pop Audio Ltd (Registered number: 08914228) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2022 |
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4. | INTANGIBLE FIXED ASSETS |
Totals |
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COST |
At 1 March 2021 |
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Disposals | ( |
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At 28 February 2022 |
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AMORTISATION |
At 1 March 2021 |
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Eliminated on disposal | ( |
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At 28 February 2022 |
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NET BOOK VALUE |
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At 28 February 2022 |
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At 28 February 2021 |
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The intangible asset represents the cost of securing a trademark against the design of the company's products. This amount will be amortised over 10 years. |
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5. | TANGIBLE FIXED ASSETS |
Totals |
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COST |
At 1 March 2021 |
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Disposals | ( |
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At 28 February 2022 |
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DEPRECIATION |
At 1 March 2021 |
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Eliminated on disposal | ( |
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At 28 February 2022 |
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NET BOOK VALUE |
At 28 February 2022 |
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At 28 February 2021 |
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