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Registered Number: 11212142
England and Wales

 

 

 

THE CENTRE FOR BETTER GROOVES LIMITED


Filleted Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2021

End date: 28 February 2022
Director Gordon Montgomery
Registered Number 11212142
Registered Office 33 Gloucester Road
Bristol
BS7 8AA
Accountants Bond & Co Chartered Certified Accountants
66 Gloucester Road
Bristol
BS7 8BH
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 28 February 2022
Principal activities
Principal activity of the company during the financial year was that of retail of recorded music.
Director
The director who served the company throughout the year was as follows:
Gordon Montgomery
Statement of director's responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
Gordon Montgomery
Director

Date approved: 07 September 2022
2
Report to the directors on the preparation of the unaudited statutory accounts of The Centre For Better Grooves Limited for the year ended 28 February 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Centre For Better Grooves Limited for the year ended 28 February 2022 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of The Centre For Better Grooves Limited, as a body, in accordance with the terms of our engagement letter dated 07 March 2018 Our work has been undertaken solely to prepare for your approval the accounts of The Centre For Better Grooves Limited and state those matters that we have agreed to state to the Board of Directors of The Centre For Better Grooves Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Centre For Better Grooves Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that The Centre For Better Grooves Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of The Centre For Better Grooves Limited. You consider that The Centre For Better Grooves Limited is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of The Centre For Better Grooves Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
28 February 2022


Bond & Co Chartered Certified Accountants
66 Gloucester Road
Bristol
BS7 8BH
07 September 2022
3
 
 
Notes
 
2022
£
  2021
£
Current assets      
Stocks 3 55,094    51,267 
Cash at bank and in hand 1,088    10,205 
56,182    61,472 
Creditors: amount falling due within one year 4 (38,132)   (40,025)
Net current assets 18,050    21,447 
 
Total assets less current liabilities 18,050    21,447 
Creditors: amount falling due after more than one year 5 (13,000)   (20,000)
Net assets 5,050    1,447 
 

Capital and reserves
     
Called up share capital 6 100    100 
Profit and loss account 4,950    1,347 
Shareholder's funds 5,050    1,447 
 


For the year ended 28 February 2022 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 07 September 2022 and were signed by:


--------------------------------
Gordon Montgomery
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 March 2020 100  3,315  3,415 
Profit for the year 10,032  10,032 
Total comprehensive income for the year 10,032  10,032 
Dividends (12,000) (12,000)
Total investments by and distributions to owners (12,000) (12,000)
At 28 February 2021 100  1,347  1,447 
At 01 March 2021 100  1,347  1,447 
Profit for the year 3,603  3,603 
Total comprehensive income for the year 3,603  3,603 
Total investments by and distributions to owners
At 28 February 2022 100  4,950  5,050 
5
General Information
The Centre For Better Grooves Limited is a private company, limited by shares, registered in England and Wales, registration number 11212142, registration address 33 Gloucester Road, Bristol, , BS7 8AA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including the provisions of Section 1A Small Entities and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 2 (2021 : 2).
3.

Stocks

2022
£
  2021
£
Stocks 55,094    51,267 
55,094    51,267 

4.

Creditors: amount falling due within one year

2022
£
  2021
£
Trade Creditors 6,135    8,519 
Bank Loans & Overdrafts 4,000   
Corporation Tax 845    2,353 
Accrued Expenses 900    900 
Other Creditors 476   
Directors' Current Accounts 22,235    25,670 
VAT 3,541    2,583 
38,132    40,025 

5.

Creditors: amount falling due after more than one year

2022
£
  2021
£
Bank Loans & Overdrafts 13,000    20,000 
13,000    20,000 

6.

Share Capital

Allotted, called up and fully paid
2022
£
  2021
£
100 Class A shares of £1.00 each 100    100 
100    100 

6