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Registered Number: 11141370
England and Wales

 

 

 

TASTE MUSIC LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2021

End date: 31 January 2022
Director Steven James Durham
Registered Number 11141370
Registered Office 7 BELL YARD
LONDON
WC2A 2JR
Accountants Worth Knowing Accountants Ltd
S14, 22.25
Portman Close,
London
W1H6BS
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 January 2022
Principal activities
Principal activity of the company during the financial year was of performing arts and support activities to performing arts.
Director
The director who served the company throughout the year was as follows:
Steven James Durham
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.


----------------------------------
Steven James Durham
Director

Date approved: 07 September 2022
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 January 2022 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise 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 accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Worth Knowing Accountants Ltd
31 January 2022



....................................................
Worth Knowing Accountants Ltd
S14, 22.25
Portman Close,
London
W1H6BS
07 September 2022
3
 
 
Notes
 
2022
£
  2021
£
Fixed assets      
Tangible fixed assets 3 19,721    8,296 
19,721    8,296 
Current assets      
Debtors 4 15,958    15,673 
Cash at bank and in hand 15,808    49,699 
31,766    65,372 
Creditors: amount falling due within one year 5 (7,424)   (22,071)
Net current assets 24,342    43,301 
 
Total assets less current liabilities 44,063    51,597 
Creditors: amount falling due after more than one year 6 (50,628)   (50,000)
Provisions for liabilities 7 (3,747)   (1,576)
Net liabilities (10,312)   21 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account (10,313)   20 
Shareholder's funds (10,312)   21 
 


For the year ended 31 January 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:


--------------------------------
Steven James Durham
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 February 2020 1  19  20 
Profit for the year 21,387  21,387 
Total comprehensive income for the year 21,387  21,387 
Dividends (21,386) (21,386)
Total investments by and distributions to owners (21,386) (21,386)
At 31 January 2021 1  20  21 
At 01 February 2021 1  20  21 
Profit for the year (10,333) (10,333)
Total comprehensive income for the year (10,333) (10,333)
Total investments by and distributions to owners
At 31 January 2022 1  (10,313) (10,312)
5
General Information
TASTE MUSIC LTD is a private company, limited by shares, registered in England and Wales, registration number 11141370, registration address 7 BELL YARD, LONDON , , WC2A 2JR.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
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
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 25% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Plant and Machinery 25% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 0 (2021 : 0).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Plant and Machinery   Fixtures and Fittings   Total
  £   £   £   £
At 01 February 2021 7,657    4,648      12,305 
Additions 2,387    13,925    1,583    17,895 
Disposals      
At 31 January 2022 10,044    18,573    1,583    30,200 
Depreciation
At 01 February 2021 1,914    2,095      4,009 
Charge for year 2,033    4,120    317    6,470 
On disposals      
At 31 January 2022 3,947    6,215    317    10,479 
Net book values
Closing balance as at 31 January 2022 6,097    12,358    1,266    19,721 
Opening balance as at 01 February 2021 5,743    2,553      8,296 


4.

Debtors: amounts falling due within one year

2022
£
  2021
£
Trade Debtors   (39)
Other Debtors 2,739    2,739 
Corporation Tax 3,776   
Directors' Current Accounts 9,443    12,973 
15,958    15,673 

5.

Creditors: amount falling due within one year

2022
£
  2021
£
Trade Creditors 1,169    588 
Corporation Tax   5,704 
Accrued Expenses 750    750 
VAT 5,505    15,029 
7,424    22,071 

6.

Creditors: amount falling due after more than one year

2022
£
  2021
£
Bank Loans & Overdrafts 50,628    50,000 
50,628    50,000 

7.

Provisions for liabilities

2022
£
  2021
£
Deferred Tax 3,747    1,576 
3,747    1,576 

6