Billy Bowman Music Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 05292197 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2015

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

1,919

2,180

CURRENT ASSETS

Stocks

101,611

94,848

Debtors

2,499

497

Cash at bank and in hand

12,610

14,764

116,720

110,109

CREDITORS

Amounts falling due within one year

83,645

87,506

NET CURRENT ASSETS

33,075

22,603

TOTAL ASSETS LESS CURRENT LIABILITIES

34,994

24,783

PROVISIONS FOR LIABILITIES

384

436

NET ASSETS

34,610

24,347

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

34,510

24,247

SHAREHOLDERS' FUNDS

34,610

24,347

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2015.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 October 2015 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 13 June 2016 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 January 2015).

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 2014

and 31 October 2015

9,131

DEPRECIATION

At 1 November 2014

6,951

Charge for year

261

At 31 October 2015

7,212

NET BOOK VALUE

At 31 October 2015

1,919

At 31 October 2014

2,180

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.15

31.10.14

value:

£

£

40

Ordinary

£1

40

40

40

"A" Ordinary

£1

40

40

20

"B" Ordinary

£1

20

20

100

100