Hindhead Music Centre Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03166746 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2018

for

Hindhead Music Centre Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs A Hughes-Chamberlain

SECRETARY:

Miss J Hughes-Chamberlain

REGISTERED OFFICE:

39 Station Road

Liphook

Hampshire

GU30 7DW

REGISTERED NUMBER:

03166746 (England and Wales)

ACCOUNTANTS:

Tropman & Co. Limited

39 Station Road

Liphook

Hampshire

GU30 7DW

FIXED ASSETS

Tangible assets

4

73,904

67,855

CURRENT ASSETS

Debtors

5

65,720

41,256

Cash at bank and in hand

4,176

905

69,896

42,161

CREDITORS

Amounts falling due within one year

6

62,901

21,560

NET CURRENT ASSETS

6,995

20,601

TOTAL ASSETS LESS CURRENT LIABILITIES

80,899

88,456

RESERVES

Income and expenditure account

80,899

88,456

80,899

88,456

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 surplus or deficit 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 22 August 2018 and were signed by:

Mrs A Hughes-Chamberlain - Director

1.	STATUTORY INFORMATION

Hindhead Music Centre Limited is a private company, limited by guarantee , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures, fittings & equipment

-

25% on reducing balance

Musical instruments

-

25% on reducing balance

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 1 ).

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures,

to

fittings

Musical

property

& equipment

instruments

Totals

£

£

£

£

COST

At 1 April 2017

60,888

55,542

36,172

152,602

Additions

-

10,388

-

10,388

At 31 March 2018

60,888

65,930

36,172

162,990

DEPRECIATION

At 1 April 2017

-

50,702

34,045

84,747

Charge for year

-

3,807

532

4,339

At 31 March 2018

-

54,509

34,577

89,086

NET BOOK VALUE

At 31 March 2018

60,888

11,421

1,595

73,904

At 31 March 2017

60,888

4,840

2,127

67,855

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

44,329

5,276

Directors' current accounts

15,689

31,109

Prepayments

5,702

4,871

65,720

41,256

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Bank loans and overdrafts

-

3,686

Trade creditors

2,765

4,653

Amounts owed to related party

7,884

5,184

Other creditors

5,000

-

Credit card

223

61

Accruals & deferred income

47,029

7,976

62,901

21,560

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2018 and

31 March 2017:

31.3.18

31.3.17

£

£

Mrs A Hughes-Chamberlain

Balance outstanding at start of year

31,109

18,391

Amounts advanced

15,688

31,109

Amounts repaid

(31,109

)

(18,391

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

15,688

31,109

The company paid a rental charge of £8,750 to Mrs A.M.M. Hughes-Chamberlain who is the sole director of the

company.

8.	RELATED PARTY DISCLOSURES

Mrs A Hughes-Chamberlain, a director of the company, is also the sole director and shareholder of Hindhead

Music Limited.

During the year the company paid expenses on behalf of Hindhead Music Limited to the amount of £6,007

(2017 - £5,841). The company also incurred a management charge of £39,817 (2017 - £24,374) during the year

covering services provided by Hindhead Music Limited. At the year end, the company owed £7,884 to Hindhead

Music Limited and this amount is included in creditors (2017 - £5,182).

9.	SHARE CAPITAL

The company is limited by guarantee and does not have an issued share capital. The liability of each member is

limited to £10.