2022-01-012022-12-312022-12-31false11123339GUITAR ANATOMY 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GUITAR ANATOMY LIMITED

Registered Number
11123339
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2022

GUITAR ANATOMY LIMITED
Company Information
for the year from 1 January 2022 to 31 December 2022

Director

NORTON, Joseph

Registered Address

2 Henson House Planet Place
Stephenson Industrial Estate
Newcastle Upon Tyne
NE12 6RZ

Registered Number

11123339 (England and Wales)
GUITAR ANATOMY LIMITED
Balance Sheet as at
31 December 2022

Notes

2022

2021

£

£

£

£

Fixed assets
Tangible assets73,0241,446
3,0241,446
Current assets
Stocks823,99332,439
Debtors9-61
Cash at bank and on hand27,34114,987
51,33447,487
Creditors amounts falling due within one year10(18,933)(15,309)
Net current assets (liabilities)32,40132,178
Total assets less current liabilities35,42533,624
Net assets35,42533,624
Capital and reserves
Called up share capital100100
Profit and loss account35,32533,524
Shareholders' funds35,42533,624
The financial statements were approved and authorised for issue by the Director on 30 September 2023, and are signed on its behalf by:
NORTON, Joseph
Director
Registered Company No. 11123339
GUITAR ANATOMY LIMITED
Notes to the Financial Statements
for the year ended 31 December 2022

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company in the year under review was that of the online retail of guitar accessories.
4.Basis of measurement used in financial statements
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).
5.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment4
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
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.
Foreign currency translation and operations policy
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.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
6.Employee information

20222021
Average number of employees during the year00
7.Property, plant and equipment

Office Equipment

Total

££
Cost or valuation
At 01 January 222,0762,076
Additions2,4852,485
At 31 December 224,5614,561
Depreciation and impairment
At 01 January 22630630
Charge for year907907
At 31 December 221,5371,537
Net book value
At 31 December 223,0243,024
At 31 December 211,4461,446
8.Stocks

2022

2021

££
Finished goods23,99332,439
Total23,99332,439
9.Debtors

2022

2021

££
Other debtors-61
Total-61
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.
10.Creditors within one year

2022

2021

££
Trade creditors / trade payables313602
Taxation and social security14,87610,962
Other creditors3,7443,745
Total18,93315,309
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.