Hollywood Music Shop Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 06204711 (England and Wales)

Hollywood Music Shop Limited

Abbreviated Unaudited Accounts for the Year Ended 30 April 2015

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

to

4

Notes to the Abbreviated Accounts

5

to

6

DIRECTOR:

J Evans

REGISTERED OFFICE:

88 High Street

Stony Stratford

Milton Keynes

Buckinghamshire

MK11 1AH

REGISTERED NUMBER:

06204711 (England and Wales)

ACCOUNTANTS:

Tearle & Carver Limited

Chandos House

School Lane

Buckingham

Buckinghamshire

MK18 1HD

The following reproduces the text of the report prepared for the director in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages three to six) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Hollywood Music Shop Limited for the year ended 30 April 2015 which comprise

the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting

records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the director of Hollywood Music Shop Limited in accordance with the terms of our engagement letter dated 5 October 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Hollywood Music Shop Limited and state those matters that we have agreed to state to the director of Hollywood Music Shop Limited in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Hollywood Music Shop Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hollywood Music Shop Limited. You consider that Hollywood Music Shop Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hollywood Music

Shop Limited. For this reason, we have not verified the accuracy or completeness of the accounting records

or information and explanations you have given to us and we do not, therefore, express any opinion on the

statutory financial statements.

Tearle & Carver Limited

Chandos House

School Lane

Buckingham

Buckinghamshire

MK18 1HD

11 November 2015

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

7,255

12,202

7,255

12,202

CURRENT ASSETS

Stocks

76,161

111,374

Debtors

8,245

3,749

Cash at bank and in hand

4,239

3,647

88,645

118,770

CREDITORS

Amounts falling due within one year

44,677

78,393

NET CURRENT ASSETS

43,968

40,377

TOTAL ASSETS LESS CURRENT LIABILITIES

51,223

52,579

PROVISIONS FOR LIABILITIES

1,223

2,162

NET ASSETS

50,000

50,417

CAPITAL AND RESERVES

Called up share capital

4

50,000

50,000

Profit and loss account

-

417

SHAREHOLDERS' FUNDS

50,000

50,417

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 11 November 2015 and were signed by:

J Evans - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

20% 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.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2014

and 30 April 2015

25,000

AMORTISATION

At 1 May 2014

and 30 April 2015

25,000

NET BOOK VALUE

At 30 April 2015

-

At 30 April 2014

-

3.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 May 2014

26,759

429

27,188

Additions

604

-

604

Disposals

(4,672

)

-

(4,672

)

At 30 April 2015

22,691

429

23,120

DEPRECIATION

At 1 May 2014

14,832

154

14,986

Charge for year

1,758

55

1,813

Eliminated on disposal

(934

)

-

(934

)

At 30 April 2015

15,656

209

15,865

NET BOOK VALUE

At 30 April 2015

7,035

220

7,255

At 30 April 2014

11,927

275

12,202

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

50,000

Ordinary

£1

50,000

50,000

5.	ULTIMATE CONTROLLING PARTY

The controlling party is J Evans.