Belcanto Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 07508737 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2016

FOR

BELCANTO LIMITED

T/A

THE MUSIC WORKS

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

A Hart

Ms K Lidbetter

REGISTERED OFFICE:

Pinewood Stables Brook Road

Wormley

Godalming

Surrey

GU8 5UD

REGISTERED NUMBER:

07508737 (England and Wales)

ACCOUNTANTS:

Cardens Accountants LLP

The Old Casino

28 Fourth Avenue

Hove

East Sussex

BN3 2PJ

FIXED ASSETS

Tangible assets

2

32,638

41,773

CURRENT ASSETS

Debtors

3,752

1,242

Cash at bank

23,295

45,895

27,047

47,137

CREDITORS

Amounts falling due within one year

56,936

78,956

NET CURRENT LIABILITIES

(29,889

)

(31,819

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,749

9,954

PROVISIONS FOR LIABILITIES

2,200

2,745

NET ASSETS

549

7,209

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

449

7,109

SHAREHOLDERS' FUNDS

549

7,209

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2016 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 6 December 2016 and were signed on its behalf by:

Ms K Lidbetter - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared on the basis that the company will continue to be a going

concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the

value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify

fixed assets and long term liabilities as current assets and liabilities.

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 sale of goods, excluding VAT. Turnover is recognised at the point the goods are

physically delivered to the customer.

Turnover also represents net invoiced sale of services, excluding VAT. Turnover is recognised at the point the

customer is entitled to consideration.

Tangible fixed assets

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

Short leasehold

-

Over the life of the lease

Music equipment

-

25% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Deferred tax

Deferred taxation is provided in full on timing differences which represent a liability at the balance sheet date, at

rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from

the inclusion of items of income and expenditure in taxation computations in periods different from those in

which they are included in financial statements. Deferred tax is not provided on timing differences arising from

the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities

are not discounted.

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 September 2015

95,846

Additions

5,277

At 31 August 2016

101,123

DEPRECIATION

At 1 September 2015

54,073

Charge for year

14,412

At 31 August 2016

68,485

NET BOOK VALUE

At 31 August 2016

32,638

At 31 August 2015

41,773

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

70

Ordinary

£1

70

70

30

Ordinary B

£1

30

30

100

100

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

5.	ACCOUNTING BASIS