Company Registration No. 08631796 (England and Wales)
CHRISTIAN HOWES MUSIC LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2014
CHRISTIAN HOWES MUSIC LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
CHRISTIAN HOWES MUSIC LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2014
Notes
£
£
Fixed assets
Tangible assets
2
491
Current assets
Stocks
2,740
Debtors
2,690
Cash at bank and in hand
3,550
8,980
Creditors: amounts falling due within one year
(16,413)
Net current liabilities
(7,433)
Total assets less current liabilities
(6,942)
Capital and reserves
Called up share capital
3
100
Profit and loss account
(7,042)
Shareholders' funds
(6,942)
For the financial year ended 31 July 2014 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 30 April 2015
Mr C Howes
Director
Company Registration No. 08631796
CHRISTIAN HOWES MUSIC LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2014
- 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 financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of the assumption depends upon the continued financial support of the company's directors and bankers.
If the company were unable to continue in existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values of assets to their recoverable amounts and to provide for any further liabilities that might arise.
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 Manufacturing of musical instruments net of VAT.Manufacturing of musical instruments net of VAT.
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:
Fixtures, fittings & equipment
15% per annum on net book value
2
Fixed assets
Tangible assets
£
Cost
At 1 August 2013
-
Additions
510
At 31 July 2014
510
Depreciation
At 1 August 2013
-
Charge for the year
19
At 31 July 2014
19
Net book value
At 31 July 2014
491
CHRISTIAN HOWES MUSIC LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2014
- 3 -
3
Share capital
2014
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
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