| John Fortis Music Ltd |
| Registered number: |
08222414 |
| Balance Sheet |
| as at 30 September 2017 |
|
| Notes |
|
|
2017 |
|
|
2016 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
4 |
|
|
7,529 |
|
|
3,301 |
|
| Current assets |
| Cash at bank and in hand |
|
|
171,100 |
|
|
156,633 |
|
| Creditors: amounts falling due within one year |
5 |
|
(174,593) |
|
|
(161,052) |
|
| Net current liabilities |
|
|
|
(3,493) |
|
|
(4,419) |
|
| Total assets less current liabilities |
|
|
|
4,036 |
|
|
(1,118) |
|
|
| Provisions for liabilities |
|
|
|
(1,468) |
|
|
(660) |
|
|
| Net assets/(liabilities) |
|
|
|
2,568 |
|
|
(1,778) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1 |
|
|
1 |
| Profit and loss account |
|
|
|
2,567 |
|
|
(1,779) |
|
| Shareholder's funds |
|
|
|
2,568 |
|
|
(1,778) |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| John Fortis |
| Director |
| Approved by the board on 10 April 2018 |
|
| John Fortis Music Ltd |
| Notes to the Accounts |
| for the year ended 30 September 2017 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Freehold buildings |
over 50 years |
|
Leasehold land and buildings |
over the lease term |
|
Plant and machinery |
over 4 years |
|
Fixtures, fittings, tools and equipment |
over 5 years |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Employees |
2017 |
|
2016 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 October 2016 |
150,000 |
|
At 30 September 2017 |
150,000 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 October 2016 |
150,000 |
|
At 30 September 2017 |
150,000 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2017 |
- |
|
|
|
|
|
|
|
|
|
|
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years. |
|
|
| 4 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| £ |
|
Cost |
|
At 1 October 2016 |
49,425 |
|
Additions |
8,284 |
|
At 30 September 2017 |
57,709 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 October 2016 |
46,124 |
|
Charge for the year |
4,056 |
|
At 30 September 2017 |
50,180 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2017 |
7,529 |
|
At 30 September 2016 |
3,301 |
|
|
| 5 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Trade creditors |
362 |
|
589 |
|
Taxation and social security costs |
12,532 |
|
12,917 |
|
Director's account |
160,797 |
|
146,572 |
|
Other creditors |
902 |
|
974 |
|
|
|
|
|
|
174,593 |
|
161,052 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Controlling party |
|
|
The company is controlled by John Fortis, sole director and shareholder. |
|
|
| 7 |
Other information |
|
|
John Fortis Music Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
69 Loughborough Road |
|
West Bridgford |
|
Nottingham |
|
NG2 7LA |
