Banchory Music Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC221813 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2018

for

BANCHORY MUSIC LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R Colburn

S Jackson

Miss S Martin

S Murdoch

C Geddes

R Kildea

REGISTERED OFFICE:

Argyle Studios

27 Argyle Court

1103 Argyle Street

Glasgow

G3 8ND

REGISTERED NUMBER:

SC221813 (Scotland)

ACCOUNTANTS:

Brand Jamieson & Co. Ltd.

Chartered Accountants

2 Victoria Place

Rutherglen

Glasgow

G73 2JP

FIXED ASSETS

Tangible assets

4

4,586

4,053

CURRENT ASSETS

Debtors

5

581,623

72,827

Cash at bank and in hand

125,199

397,099

706,822

469,926

CREDITORS

Amounts falling due within one year

6

(359,599

)

(183,908

)

NET CURRENT ASSETS

347,223

286,018

TOTAL ASSETS LESS CURRENT LIABILITIES

351,809

290,071

CAPITAL AND RESERVES

Called up share capital

42

42

Retained earnings

351,767

290,029

SHAREHOLDERS' FUNDS

8

351,809

290,071

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 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 8 August 2018 and were signed on its behalf by:

S Murdoch - Director

1.	STATUTORY INFORMATION

Banchory Music Limited is a private company, limited by shares , registered in Scotland. 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2017

24,328

Additions

1,343

At 31 March 2018

25,671

DEPRECIATION

At 1 April 2017

20,275

Charge for year

810

At 31 March 2018

21,085

NET BOOK VALUE

At 31 March 2018

4,586

At 31 March 2017

4,053

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

3,511

-

Amounts owed by group undertakings

-

1,704

Other debtors

578,112

71,123

581,623

72,827

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Amounts owed to group undertakings

26,519

33,830

Taxation and social security

71,002

23,096

Other creditors

262,078

126,982

359,599

183,908

7.	ULTIMATE CONTROLLING PARTY

No one person has control of the company with 100% of the issued share capital being owned by the directors.

8.	RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS

31.3.18

31.3.17

£

£

Profit for the financial year

241,738

164,322

Dividends

(180,000

)

(240,000

)

61,738

(75,678

)

Opening shareholders funds

-

365,749

Net addition to shareholders' funds

61,738

290,071

Opening shareholders' funds

290,071

-

Closing shareholders' funds

351,809

290,071