Billy Bowman Music Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05292197 (England and Wales)

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2014

FOR

BILLY BOWMAN MUSIC LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

B Bowman

M Bowman

J N Osborne

SECRETARY:

J N Osborne

REGISTERED OFFICE:

5 Lowther Went

South Street

Cockermouth

Cumbria

CA13 9RT

REGISTERED NUMBER:

05292197 (England and Wales)

ACCOUNTANTS:

Tattersall Bailey

Chartered Accountants

14A Main Street

Cockermouth

Cumbria

CA13 9LQ

FIXED ASSETS

Tangible assets

2

2,180

2,743

CURRENT ASSETS

Stocks

94,848

115,043

Debtors

497

2,130

Cash at bank and in hand

14,764

24,910

110,109

142,083

CREDITORS

Amounts falling due within one year

87,506

105,782

NET CURRENT ASSETS

22,603

36,301

TOTAL ASSETS LESS CURRENT LIABILITIES

24,783

39,044

PROVISIONS FOR LIABILITIES

436

372

NET ASSETS

24,347

38,672

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

24,247

38,572

SHAREHOLDERS' FUNDS

24,347

38,672

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2014.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 October 2014 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 28 July 2015 and were signed on its behalf by:

B Bowman - Director

M Bowman - Director

J N Osborne - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

10% on cost

Fixtures and fittings

-

10% on reducing balance

Computer equipment

-

33.3% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2013

and 31 October 2014

9,131

DEPRECIATION

At 1 November 2013

6,388

Charge for year

563

At 31 October 2014

6,951

NET BOOK VALUE

At 31 October 2014

2,180

At 31 October 2013

2,743

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.14

31.10.13

value:

£

£

40

Ordinary

£1

40

40

40

"A" Ordinary

£1

40

40

20

"B" Ordinary

£1

20

20

100

100