Albert Fowler (Music) Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 00833409 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31st March 2014

for

Albert Fowler (Music) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

JW Melbourne

D F Melbourne

SECRETARY:

JW Melbourne

REGISTERED OFFICE:

7-9 Oxford Street

Ripley

Derbyshire

DE5 3AG

REGISTERED NUMBER:

00833409 (England and Wales)

ACCOUNTANTS:

Mabe Allen LLP

Chartered Accountants

3 Derby Road

Ripley

Derbyshire

DE5 3EA

FIXED ASSETS

Tangible assets

2

35,166

30,529

CURRENT ASSETS

Stocks

15,000

23,000

Debtors

863

4,752

Cash in hand

250

250

16,113

28,002

CREDITORS

Amounts falling due within one year

55,247

68,904

NET CURRENT LIABILITIES

(39,134

)

(40,902

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,968

)

(10,373

)

CAPITAL AND RESERVES

Called up share capital

3

150

150

Revaluation reserve

5,667

-

Profit and loss account

(9,785

)

(10,523

)

SHAREHOLDERS' FUNDS

(3,968

)

(10,373

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2014 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 17th December 2014 and were signed on its behalf by:

JW Melbourne - Director

D F Melbourne - Director

1.	ACCOUNTING POLICIES

Principal accounting policies

The principal accounting policies adopted in the preparation of the Financial Statements are set out

below and have remained unchanged from the previous year and also have been consistently applied

within the same Financial Statements.

Basis of preparation

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller

Entities (effective April 2008).

The effect of events relating to the year ended 31st March 2014, which occurred before the date of

approval of the Financial Statements by the Board of Directors, have been included in the Statements

to the extent required to show a true and fair view of the state of affairs at the 31st March 2014 and of

the results for the year ended on that date.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

not provided

Improvements to property

-

not provided

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held

under finance leases are depreciated over their estimated useful lives or the lease term, whichever is

the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant

period. The capital element of the future payments is treated as a liability.

Going concern

The financial statements have been prepared on a going concern basis. This may not be appropriate

because at 31 March 2014 the company's liabilities exceeded its assets by £3,968.

The directors believe that because of their continued financial support the going concern basis is

appropriate in the preparation of the financial statements.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1st April 2013

62,686

Revaluations

5,667

At 31st March 2014

68,353

DEPRECIATION

At 1st April 2013

32,157

Charge for year

1,030

At 31st March 2014

33,187

NET BOOK VALUE

At 31st March 2014

35,166

At 31st March 2013

30,529

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

£

150

Ordinary

£1

150

150