JOHN_WILSON_MUSIC_LIMITED - Accounts

JOHN WILSON MUSIC LTD - Company Information

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Company Registration No. 05886683 (England and Wales)

JOHN WILSON MUSIC LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2015

JOHN WILSON MUSIC LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

JOHN WILSON MUSIC LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

33,692

38,832

Current assets

Debtors

7,510

712

Cash at bank and in hand

381,213

282,473

388,723

283,185

Creditors: amounts falling due within one year

(35,418)

(25,037)

Net current assets

353,305

258,148

Total assets less current liabilities

386,997

296,980

Capital and reserves

Called up share capital

100

Profit and loss account

386,897

296,880

Shareholders' funds

386,997

296,980

For the financial year ended 31 July 2015 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 25 April 2016

Mr John Wilson

Director

Company Registration No. 05886683

JOHN WILSON MUSIC LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2015

- 2 -

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).

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 goods and services net of VAT and trade discounts.

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:

Plant and machinery

15% Reducing Balance

Fixtures, fittings & equipment

25% Reducing Balance

Fixed assets

Tangible assets

Cost

At 1 August 2014

92,994

Additions

1,636

At 31 July 2015

94,630

Depreciation

At 1 August 2014

54,162

Charge for the year

6,776

At 31 July 2015

60,938

Net book value

At 31 July 2015

33,692

At 31 July 2014

38,832

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary of £1 each

100

JOHN WILSON MUSIC LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2015

- 3 -

Ultimate parent company

The ultimate controlling party of the company is the director, Mr John Wilson.

Related party relationships and transactions

During the year the transactions with the director are as follows:

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Director loan account

3.25

67,872

510

68,382

67,872

510

68,382