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Abbreviated Unaudited Accounts for the Year Ended 30 June 2016 |
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Back Alley Musical Instruments Limited |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts for the Year Ended 30 June 2016 |
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for |
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Back Alley Musical Instruments Limited |
Back Alley Musical Instruments Limited (Registered number: 02351982) |
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Contents of the Abbreviated Accounts |
for the Year Ended 30 June 2016 |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
Back Alley Musical Instruments Limited |
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Company Information |
for the Year Ended 30 June 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Back Alley Musical Instruments Limited (Registered number: 02351982) |
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Abbreviated Balance Sheet |
30 June 2016 |
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30.6.16 | 30.6.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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Investment property | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year | 4 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
4 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 5 |
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Share premium |
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Revaluation reserve |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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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. |
Back Alley Musical Instruments Limited (Registered number: 02351982) |
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Abbreviated Balance Sheet - continued |
30 June 2016 |
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The financial statements were approved by the Board of Directors on
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Back Alley Musical Instruments Limited (Registered number: 02351982) |
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Notes to the Abbreviated Accounts |
for the Year Ended 30 June 2016 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention as modified by the revaluation |
of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January |
2015). |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Tangible fixed assets |
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Land and buildings | - |
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Plant and machinery etc | - |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
market value is transferred to a revaluation reserve. |
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No depreciation is provided in respect of investment properties. This treatment conflicts with the requirement of |
The Companies Act that all properties should be depreciated. The directors consider that, because this property |
is not held for its consumption but for its investment potential it is necessary to adopt the requirements of the |
FRSSE in order to give a true and fair view. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST OR VALUATION |
At 1 July 2015 |
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Additions |
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At 30 June 2016 |
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DEPRECIATION |
At 1 July 2015 |
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Charge for year |
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At 30 June 2016 |
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NET BOOK VALUE |
At 30 June 2016 |
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At 30 June 2015 |
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Back Alley Musical Instruments Limited (Registered number: 02351982) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 30 June 2016 |
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3. | INVESTMENT PROPERTY |
Total |
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COST OR VALUATION |
At 1 July 2015 |
and 30 June 2016 |
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NET BOOK VALUE |
At 30 June 2016 |
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At 30 June 2015 |
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4. | CREDITORS |
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Creditors include an amount of £
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They also include the following debts falling due in more than five years: |
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30.6.16 | 30.6.15 |
£ | £ |
Repayable by instalments | 133,508 | 133,508 |
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5. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.16 | 30.6.15 |
value: | £ | £ |
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Ordinary | £1 |
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"A" Ordinary share | £1 |
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"B" Ordinary share | £1 |
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102 | 102 |
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The holders of the Ordinary Shares shall be entitled to receive notice of meetings and to attend and vote at |
General Meetings. In the event of a winding up the assets of the Company remaining after paying and |
discharging the debts and liabilities of the Company and the costs of the winding up shall be applied in |
repayment of the capital paid up or credited as paid up on all shares and the residue (if any) shall be divided |
among the holders of the Ordinary Shares only in proportion to the nominal amount paid up or credited as paid |
up on such shares. |
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The holders of the "A-B" Ordinary Shares shall not be entitled to receive notice of meetings or to attend or vote |
at General Meetings. The holders of the "A-B" Shares shall receive no payment in the event of a winding up |
other than the nominal amount paid up or credited as paid up on such shares. |