Company Registration No. 05013538 (England and Wales)
VIVACE PIANOS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2014
VIVACE PIANOS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
VIVACE PIANOS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2014
30 April 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Intangible assets
2
10,000
11,000
Tangible assets
2
2,665
3,415
12,665
14,415
Current assets
Stocks
42,329
40,787
Debtors
2,500
2,500
Cash at bank and in hand
3,647
8,631
48,476
51,918
Creditors: amounts falling due within one year
(12,540)
(36,097)
Net current assets
35,936
15,821
Total assets less current liabilities
48,601
30,236
Provisions for liabilities
(143)
(42)
48,458
30,194
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
48,457
30,193
Shareholders' funds
48,458
30,194
VIVACE PIANOS LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2014
30 April 2014
- 2 -
For the financial year ended 30 April 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has 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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 16 January 2015
Mrs V E Shiplee
Director
Company Registration No. 05013538
VIVACE PIANOS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2014
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 years.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings - leasehold
Straight line over 10 years
Fixtures, fittings & equipment
25% written down value
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 May 2013 & at 30 April 2014
20,000
10,795
30,795
Depreciation
At 1 May 2013
9,000
7,380
16,380
Charge for the year
1,000
750
1,750
At 30 April 2014
10,000
8,130
18,130
Net book value
At 30 April 2014
10,000
2,665
12,665
At 30 April 2013
11,000
3,415
14,415
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
1 Ordinary share of £1 each
1
1
VIVACE PIANOS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2014
- 4 -
4
Related party relationships and transactions
Other transactions
Included in creditors is an amount of £490 (2013 - £22,305) due to the director Mrs V Shiplee.
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