ACCOUNTS - Final Accounts

Registered number: 10062836

ABC MUSIC HOLDINGS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

ABC MUSIC HOLDINGS LIMITED

REGISTERED NUMBER: 10062836

BALANCE SHEET

AS AT 31 MARCH 2018

		2018		2017
Note		£		£

Fixed assets
Investments	4	1,900,000	1,900,000

Creditors: amounts falling due within one year	5	(1,899,900)	(1,899,900)

Net assets		100	100

Capital and reserves
Called up share capital	100	100
	100	100

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 December 2018.

M P Joseph

Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

ABC MUSIC HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

1.	General information

ABC Music Holdings Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registered office is 85 High Street, Esher, Surrey, KT10 9QA .
The principal activity of the company was that of a holding company.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

2.3

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

2.4

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including the director, during the year was 1 (2017 - 1).

Page 2

ABC MUSIC HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 April 2017	1,900,000
	At 31 March 2018	1,900,000

	Net book value
	At 31 March 2018	1,900,000
	At 31 March 2017	1,900,000

Subsidiary undertakings
The following was a subsidiary undertaking of the company:
Name	Class of shares	Holding	Principal activity

ABC Music Limited

Ordinary

100%

Hire and retail of musical instruments

The aggregate of the share capital and reserves as at 31 March 2018 and of the profit or loss for the year ended on that date for the subsidiary undertaking was as follows:
	Aggregate of share capital and reserves	Profit/(loss)
	£	£

ABC Music Limited

843,146

117,459

5.	Creditors: Amounts falling due within one year
		2018	2017
		£	£

Amounts owed to group undertakings	61,900	47,000
Other creditors	1,838,000	1,852,900
	1,899,900	1,899,900

Page 3

ABC MUSIC HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

6.	Related party transactions
	During the year, the director had an interest in dividends of £72,936 (2017 - £72,602). At the year end, the company owed £61,900 (2017 - £47,000) to its subsidiary.

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