CHILDREN could run up bills they can not afford to pay in a bid to keep pace with the mobile phone ringtone craze, parents were warned today.

The advice was given as the record company with two top ten entries in the first ever national ringtone chart said the phenomenon could actually help boost record sales.

Ringtones have become a £70million-a-year industry, up £30million from 2002.

Their popularity is such that they now have their own official chart compiled by accountancy firm KPMG, using information supplied by mobile phone companies.

Every fortnight the 20 best-selling ringtones will be published in Music Week magazine -- and experts are predicting that the industry could even overtake record single sales in a number of years.

This is raised concerns that children could run up huge bills keeping pace with changing trends.

Ringtones typically sell for between £1.50 and £3.50, although some can cost as much as £6.

Children whose phones have WAP, an internet-style system, can download ringtones by simply logging on.

Jim Potts, chief Trading Standards officer for Lancashire, said: "It is a very lucrative commercial market and is buyer beware.

"The law on children's capacity to enter contracts depends on a centuries-old law called 'Concept of Necessities'.

"If they do enter contracts, it is therefore reasonable for the parents to be liable for the costs.

"Parents need to make children totally aware of this and to monitor their use of the phones."

Matt Cadman, one of men behind the dance music label AATW, based in Penny Street, Blackburn, believes that the popularity of ringtones can help record labels make money and promote songs.

The first Music Week ringtone chart includes two tracks put out by AATW. They are Frankee's 'FURB' -- which is number one for a third week in the singles charts -- and Special D 'Come With Me' which is also in the top 10.

But Matt isn't worried -- even if the new generation of polyphonic phones have made the tones sound even more like the original songs.

He said: "I don't think we'll ever get to a situation where people download a ringtone instead of buying a song.

"Ringtones are an opportunity, not a threat."

"When we released Clubland 2, a dance compilation, we advertised ringtones for the songs on the album. Not only did the album sell incredibly well, but we sold 60,000 ringtones on the back of it to by people ringing up a phoneline.