Company Registration No. 08176250 (England and Wales)
BEN HOWARD MUSIC LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2016
BEN HOWARD MUSIC LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
BEN HOWARD MUSIC LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2016
31 August 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
7,493
9,269
Current assets
Debtors
364,402
458,398
Cash at bank and in hand
615,833
302,931
980,235
761,329
Creditors: amounts falling due within one year
(202,597)
(560,175)
Net current assets
777,638
201,154
Total assets less current liabilities
785,131
210,423
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
785,130
210,422
Shareholders' funds
785,131
210,423
For the financial year ended 31 August 2016 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 31 May 2017
Benjamin Howard
Director
Company Registration No. 08176250
BEN HOWARD MUSIC LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2016
- 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 January 2015).
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 recording and publishing net of VAT .
recording and publishing
net of VAT
.
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:
Fixtures, fittings & equipment
25% reducing balance
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 September 2015
12,358
Additions
721
At 31 August 2016
13,079
Depreciation
At 1 September 2015
3,089
Charge for the year
2,497
At 31 August 2016
5,586
Net book value
At 31 August 2016
7,493
At 31 August 2015
9,269
BEN HOWARD MUSIC LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 Ordinary shares of £1 each
1
1
4
Related party relationships and transactions
Other transactions
Benjamin Howard is a director and shareholder of Burgh Island Touring Limited. During the year, Ben Howard Music Limited provided the company with an unsecured interest free loan of £321,138 and this amount is included in other debtors at the year end.