PIANO TUITION LIMITED
PIANO TUITION LIMITED
Registered number: 08571706
ABRIDGED Financial Statements
For The Year Ended
31 August 2020
John A. Porter & Co.
74 Dickenson Road
Rusholme
Manchester
M14 5HF
PIANO TUITION LIMITED
Financial Statements
For The Year Ended
31 August 2020
Financial Statements
| Contents | |
| Page | |
|---|---|
| Abridged Balance Sheet | 1—2 |
| Notes to the Abridged Financial Statements | 3—5 |
PIANO TUITION LIMITED
Abridged Balance Sheet
As at
31 August 2020
Abridged Balance Sheet
Registered number:
08571706
For the year ending 31 August 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 9 |
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| Tangible Assets | 10 |
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| CURRENT ASSETS | |||||
| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 12 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 3,082 | 2,461 | |||
Page 1
PIANO TUITION LIMITED
Abridged Balance Sheet (continued)
As at
31 August 2020
Director's responsibilities
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
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All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 August 2020 in accordance with section 444(2A) of the Companies Act 2006.
The financial statements were approved by the board on 30 August 2021 and were signed on its behalf by:
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Director
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
PIANO TUITION LIMITED
Notes to the Abridged Financial Statements
For The Year Ended
31 August 2020
Notes to the Abridged Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover represents total invoiced fees receivable. The business is not registered for Value Added Tax (VAT).
1.3.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 25 years.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation.
Depreciation is calculated at the following annual rates in order to write off each asset over its estimated useful life.
| Musical Instruments |
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| Office Fixtures & Fittings |
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No depreciation is charged in the year of acquisition.
Musical instruments comprise a piano and a violin and are subject to a constant and high degree of maintenance. Accordingly, in the opinion of the director, their value is not depreciating. In these circumstances these instruments are subject to annual revaluations. Their combined valuation as at 31 August 2020 was £12,500 (2019 £12,500).
1.5.
Stocks and Work in Progress
Work in progress has been valued at prime cost of labour and materials plus other direct expenses.
1.6.
Accounting Reference Date
The accounting reference date is 31 August.
These accounts are nevertheless as at 31 August 2020 or are for the year ended on that date.
1.7.
Comparative Figures
The comparative figures used throughout these accounts are as at 31 August 2019 or are for the year ended on that date.
1.8.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
5.
Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2019: 1)
Page 3
PIANO TUITION LIMITED
Notes to the Abridged Financial Statements (continued)
For The Year Ended
31 August 2020
9.
Intangible Assets
| Total | |||
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| £ | |||
| Cost | |||
| As at
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| As at
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| Amortisation | |||
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| Provided during the period |
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| As at
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| Net Book Value | |||
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| As at
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10.
Tangible Assets
| Total | |
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| £ | |
| Cost | |
| As at
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| Additions |
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| As at
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| Depreciation | |
| As at
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| Provided during the period |
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| As at
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| Net Book Value | |
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| As at
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13.
Directors Advances, Credits and Guarantees
Dividends paid to directors
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Ms Clare Cocks | 20,000 | 7,800 |
Page 4
PIANO TUITION LIMITED
Notes to the Abridged Financial Statements (continued)
For The Year Ended
31 August 2020
14.
Dividends
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Interim dividend paid |
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| 20,000 | 7,800 | ||
15.
Ultimate Controlling Party
The Company was controlled throughout the year by Ms Clare Cocks who held the 1 £1 ordinary voting share throughout the year.
16.
General Information
PIANO TUITION LIMITED
is a private company, limited by shares, incorporated in England & Wales.
The registered number is
08571706
.
The registered office is 74 Dickenson Road, Rusholme, Manchester, M14 5HF.
Dividends paid to the Director in the year are reported in Note 13
There are no other related party transactions to report.
There are no contingent liabilities or post balance sheet events to report.
Page 5