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REGISTERED NUMBER: SC216266 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 March 2017

for

Aberdeen Music and Collectables Limited

Aberdeen Music and Collectables Limited (Registered number: SC216266)






Contents of the Financial Statements
for the Year Ended 31 March 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Aberdeen Music and Collectables Limited

Company Information
for the Year Ended 31 March 2017







DIRECTORS: T McDonald
J Sandison





SECRETARY: T McDonald





REGISTERED OFFICE: 19 Fonthill Terrace
Aberdeen
Aberdeenshire
AB11 7UR





REGISTERED NUMBER: SC216266 (Scotland)





ACCOUNTANTS: D.J. Martin & Co.
40/42 Brantwood Avenue
Dundee
Tayside
DD3 6EW

Aberdeen Music and Collectables Limited (Registered number: SC216266)

Balance Sheet
31 March 2017

31.3.17 31.3.16
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 - -
Tangible assets 4 319,842 328,156
319,842 328,156

CURRENT ASSETS
Stocks 16,701 6,726
Debtors 5 6,000 6,000
Cash in hand 4,959 11,201
27,660 23,927
CREDITORS
Amounts falling due within one year 6 320,302 313,744
NET CURRENT LIABILITIES (292,642 ) (289,817 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,200

38,339

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 27,198 38,337
SHAREHOLDERS' FUNDS 27,200 38,339

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

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.

Aberdeen Music and Collectables Limited (Registered number: SC216266)

Balance Sheet - continued
31 March 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 15 September 2017 and were signed on its behalf by:





T McDonald - Director


Aberdeen Music and Collectables Limited (Registered number: SC216266)

Notes to the Financial Statements
for the Year Ended 31 March 2017

1. STATUTORY INFORMATION

Aberdeen Music and Collectables Limited is a private company, limited by shares , registered in Scotland. The
company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less
any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Fixtures and fittings - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the
extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or
substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will
be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Aberdeen Music and Collectables Limited (Registered number: SC216266)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2017

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2016
and 31 March 2017 75,000
AMORTISATION
At 1 April 2016
and 31 March 2017 75,000
NET BOOK VALUE
At 31 March 2017 -
At 31 March 2016 -

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 April 2016
and 31 March 2017 272,728 244,551 517,279
DEPRECIATION
At 1 April 2016 - 189,123 189,123
Charge for year - 8,314 8,314
At 31 March 2017 - 197,437 197,437
NET BOOK VALUE
At 31 March 2017 272,728 47,114 319,842
At 31 March 2016 272,728 55,428 328,156

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.17 31.3.16
£    £   
Other debtors 6,000 6,000

Aberdeen Music and Collectables Limited (Registered number: SC216266)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2017

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.17 31.3.16
£    £   
Bank loans and overdrafts 42,102 39,941
Trade creditors 26,533 37,718
Tax 434 4,697
Social security and other taxes 2,474 1,114
VAT 11,759 14,458
Term loan - 8,670
Directors' current accounts 236,255 206,258
Accrued expenses 745 888
320,302 313,744