Company Registration No. 04511005 (England and Wales)
VISCOUNT CLASSICAL ORGANS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2014
VISCOUNT CLASSICAL ORGANS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
VISCOUNT CLASSICAL ORGANS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2014
31 December 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
12,056
1,111
Current assets
Stocks
183,622
215,741
Debtors
71,309
75,741
Cash at bank and in hand
289,678
267,839
544,609
559,321
Creditors: amounts falling due within one year
(218,946)
(289,196)
Net current assets
325,663
270,125
Total assets less current liabilities
337,719
271,236
Provisions for liabilities
(2,036)
-
335,683
271,236
Capital and reserves
Called up share capital
3
10,000
10,000
Profit and loss account
325,683
261,236
Shareholders' funds
335,683
271,236
For the financial year ended 31 December 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 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 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 25 September 2015
D.Mason
Director
Company Registration No. 04511005
VISCOUNT CLASSICAL ORGANS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
- 2 -
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
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
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
20% straight line
Plant and machinery
20% straight line
Motor vehicles
33% straight line
1.5
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2014
24,806
Additions
13,461
At 31 December 2014
38,267
Depreciation
At 1 January 2014
23,695
Charge for the year
2,516
At 31 December 2014
26,211
Net book value
At 31 December 2014
12,056
At 31 December 2013
1,111
VISCOUNT CLASSICAL ORGANS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2014
- 3 -
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
10,000 Ordinary shares of £1 each
10,000
10,000