Lean Musician Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 09700204

Lean Musician Limited

Filleted Unaudited Financial Statements

31 March 2018

Lean Musician Limited

Statement of Financial Position

31 March 2018

	2018	2017
Note	£	£

Current assets

Cash at bank and in hand	95	15

Creditors: amounts falling due within one year	4	1,429	269
		-------	----
Net current liabilities		1,334	254
		-------	----
Total assets less current liabilities		( 1,334)	( 254)
		-------	----
Net liabilities		( 1,334)	( 254)
		-------	----

Capital and reserves

Called up share capital	1	1
Profit and loss account	( 1,335)	( 255)
	-------	----
Shareholders deficit	( 1,334)	( 254)
	-------	----

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 14 December 2018 , and are signed on behalf of the board by:

Mr J Vaughan
Director

Company registration number: 09700204

Lean Musician Limited

Notes to the Financial Statements

Year ended 31 March 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 49 Grove Park Road, Bristol, BS4 4JH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Creditors: amounts falling due within one year

	2018	2017
	£	£
Other creditors	1,429	269
	-------	----

5. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2018
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mr J Vaughan	( 119)	( 590)	( 709)
Mr T Poulton	( 60)	( 480)	( 540)
	----	-------	-------
	( 179)	( 1,070)	( 1,249)
	----	-------	-------

	2017
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mr J Vaughan	1	( 120)	( 119)
Mr T Poulton	–	( 60)	( 60)
	----	----	----
	1	( 180)	( 179)
	----	----	----