Registered number
05729733
Lodge Music Limited
Filleted Accounts
31 December 2022
Lodge Music Limited
Registered number: 05729733
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 10,390 13,455
Current assets
Debtors 4 356,857 429,294
Investments held as current assets 5 78,775 178,859
Cash at bank and in hand 86,233 116,306
521,865 724,459
Creditors: amounts falling due within one year 6 (122,168) (122,800)
Net current assets 399,697 601,659
Total assets less current liabilities 410,087 615,114
Provisions for liabilities (2,404) (7,000)
Net assets 407,683 608,114
Capital and reserves
Called up share capital 10 10
Profit and loss account 407,673 608,104
Shareholder's funds 407,683 608,114
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S.P. Tongue
Director
Approved by the board on 4 September 2023
Lodge Music Limited
Notes to the Accounts
for the year ended 31 December 2022
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment 25% reducing balance basis
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2022 130,263
Additions 683
At 31 December 2022 130,946
Depreciation
At 1 January 2022 116,808
Charge for the year 3,748
At 31 December 2022 120,556
Net book value
At 31 December 2022 10,390
At 31 December 2021 13,455
4 Debtors 2022 2021
£ £
Trade debtors 351,648 424,500
Other debtors 5,209 4,794
356,857 429,294
5 Investments held as current assets 2022 2021
£ £
Fair value
Listed investments 78,775 178,859
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Listed investments (20,084) 15,776
The listed investment relates to Unit Trust investments and is based upon the the valuation at the year end date.
6 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 7,006 2,034
Taxation and social security costs 108,434 102,546
Other creditors 6,728 18,220
122,168 122,800
7 Related party transactions
The director received dividends during the year totalling £490,180 (2021: £367,490).

As at 31 December 2022 the director was owed £2,577 from the company in regard to his loan account. The loan is interest free and repayable on demand.
8 Controlling party
The ultimate controlling party was S.P. Tongue, the director and shareholder of the company.
9 Other information
Lodge Music Limited is a private company limited by shares and incorporated in England. Its registered office is:
Eagle House
Cranleigh Close
South Croydon
Surrey
CR2 9LH
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