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REGISTERED NUMBER: 01810684 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Smith Music Company Limited

Smith Music Company Limited (Registered number: 01810684)






Contents of the Financial Statements
for the Year Ended 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Smith Music Company Limited

Company Information
for the Year Ended 31 MARCH 2023







DIRECTORS: R J Smith
Mrs M Smith





SECRETARY: Mrs M Smith





REGISTERED OFFICE: Suite 2C, Brosnan House
175 Darkes Lane
Potters Bar
Hertfordshire
EN6 1BW





REGISTERED NUMBER: 01810684 (England and Wales)





ACCOUNTANTS: The Greene Partnership LLP
Chartered Accountants
Suite 2C, Brosnan House
175 Darkes Lane
Potters Bar
Hertfordshire
EN6 1BW

Smith Music Company Limited (Registered number: 01810684)

Balance Sheet
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,549 4,720

CURRENT ASSETS
Debtors 5 400,256 603,103
Cash at bank 6,171,669 4,066,638
6,571,925 4,669,741
CREDITORS
Amounts falling due within one year 6 800,045 478,115
NET CURRENT ASSETS 5,771,880 4,191,626
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,775,429

4,196,346

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 5,775,329 4,196,246
SHAREHOLDERS' FUNDS 5,775,429 4,196,346

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2023 and were signed on its behalf by:



R J Smith - Director


Smith Music Company Limited (Registered number: 01810684)

Notes to the Financial Statements
for the Year Ended 31 MARCH 2023

1. STATUTORY INFORMATION

Smith Music Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the invoiced amount of royalties receivable during the year exclusive of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Musical equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Smith Music Company Limited (Registered number: 01810684)

Notes to the Financial Statements - continued
for the Year Ended 31 MARCH 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Musical
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022
and 31 March 2023 21,668 14,665 386,637 422,970
DEPRECIATION
At 1 April 2022 21,579 14,555 382,116 418,250
Charge for year 13 28 1,130 1,171
At 31 March 2023 21,592 14,583 383,246 419,421
NET BOOK VALUE
At 31 March 2023 76 82 3,391 3,549
At 31 March 2022 89 110 4,521 4,720

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 320,985 205,893
Other debtors 79,271 397,210
400,256 603,103

Other debtors relate to an amount of £79,271 (2022: £397,210) owed by Cure Music International Limited, a company under the control of Mr R J Smith.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 216,297 155,963
Tax 376,000 185,220
Social security and other taxes 3,152 3,045
VAT 177,912 109,805
Directors' current accounts 6,684 4,082
Accrued expenses 20,000 20,000
800,045 478,115

7. RELATED PARTY DISCLOSURES

Control

The company was controlled by Mr R J Smith throughout this and the previous year. Mr R J Smith is the major shareholder of the company.