for the Year Ended
JB Piano Services Limited
Contents
Abbreviated Balance Sheet |
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Notes to the Abbreviated Accounts |
JB Piano Services Limited
(Registration number: 07662578)
Abbreviated Balance Sheet as at 31 July 2016
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2016 |
2015 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Shareholders deficit |
( |
( |
For the year ending 31 July 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the director on
.........................................
Mr J Barber
Director
JB Piano Services Limited
Notes to the Abbreviated Accounts
for the Year Ended 31 July 2016
Accounting policies |
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (FRSSE) (effective January 2015).
Going concern
The financial statements have been prepared on a going concern basis due to the continued support of the director.
Turnover
Turnover represents amounts chargeable in respect of the sale of goods and services to customers.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.
Intangible assets
Intangible assets are stated in the balance sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.
Amortisation
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Amortisation method and rate |
Trademarks |
20% on cost |
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Fixtures and fittings |
20% on reducing balance |
Computer equipment |
33.3% on cost |
Stock
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
JB Piano Services Limited
Notes to the Abbreviated Accounts
for the Year Ended 31 July 2016
Fixed assets |
Intangible assets |
Tangible assets |
Total |
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Cost |
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At 1 August 2015 |
12,499 |
1,177 |
13,676 |
At 31 July 2016 |
12,499 |
1,177 |
13,676 |
Depreciation |
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At 1 August 2015 |
9,500 |
731 |
10,231 |
Charge for the year |
2,499 |
197 |
2,696 |
At 31 July 2016 |
11,999 |
928 |
12,927 |
Net book value |
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At 31 July 2016 |
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At 31 July 2015 |
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Share capital |
Allotted, called up and fully paid shares
2016 |
2015 |
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No. |
£ |
No. |
£ |
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1 |
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1 |
Control |
The director is the controlling party by virtue of his controlling shareholding in the company.