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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 2023

End date: 29 February 2024
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 director presents his annual report and the financial statements for the year ended 29 February 2024.
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 director is responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director 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 director is 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 director is 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. The director is 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 director is 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: 20 August 2024
2
Report to the directors on the preparation of the unaudited statutory accounts of The Centre For Better Grooves Limited for the year ended 29 February 2024. 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 29 February 2024 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 companys 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 29 February 2024.


Bond & Co Chartered Certified Accountants
66 Gloucester Road
Bristol
BS7 8BH
20 August 2024
3
 
 
Notes
 
2024
£
  2023
£
Current assets      
Stocks 3 49,449    56,698 
Cash at bank and in hand 8,210    754 
57,659    57,452 
Creditors: amount falling due within one year 4 (40,740)   (43,402)
Net current assets 16,919    14,050 
 
Total assets less current liabilities 16,919    14,050 
Creditors: amount falling due after more than one year 5 (5,000)   (9,000)
Net assets 11,919    5,050 
 

Capital and reserves
     
Called up share capital 6 100    100 
Profit and loss account 11,819    4,950 
Shareholders' funds 11,919    5,050 
 


For the year ended 29 February 2024 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 director acknowledges 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. 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 20 August 2024 and were signed by:


-------------------------------
Gordon Montgomery
Director
4
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.
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 (2023 : 2).
3.

Stocks

2024
£
  2023
£
Stocks 49,449    56,698 
49,449    56,698 

4.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 3,176    4,919 
Bank Loans & Overdrafts 4,000    4,000 
Corporation Tax 1,834   
Accrued Expenses 960    960 
Other Creditors 13,000    6,500 
Directors' Current Accounts 14,863    24,313 
VAT 2,907    2,710 
40,740    43,402 

5.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 5,000    9,000 
5,000    9,000 

6.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

5