Registered number
05143796
Goodmusic Publishing Limited
Filleted Accounts
30 September 2023
Goodmusic Publishing Limited
Company Information
Directors
D C Good
Mrs E J Good
Accountants
Anderson Griffin
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Registered office
Timbrills
Beckford
Tewkesbury
Glos
Registered number
05143796
Goodmusic Publishing Limited
Registered number: 05143796
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 11,125 11,960
Current assets
Stocks 10,951 10,502
Debtors 4 4,469 6,232
Cash at bank and in hand 8,912 15,805
24,332 32,539
Creditors: amounts falling due within one year 5 (16,792) (20,016)
Net current assets 7,540 12,523
Total assets less current liabilities 18,665 24,483
Creditors: amounts falling due after more than one year 6 (8,585) (11,742)
Net assets 10,080 12,741
Capital and reserves
Called up share capital 2 2
Profit and loss account 10,078 12,739
Shareholders' funds 10,080 12,741
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
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.
D C Good
Director
Approved by the board on 31 October 2023
Goodmusic Publishing Limited
Notes to the Accounts
for the year ended 30 September 2023
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 fixtures and fittings over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Equipment fixtures and fittings
£
Cost
At 1 October 2022 142,381
Additions 12,929
At 30 September 2023 155,310
Depreciation
At 1 October 2022 130,421
Charge for the year 13,764
At 30 September 2023 144,185
Net book value
At 30 September 2023 11,125
At 30 September 2022 11,960
4 Debtors 2023 2022
£ £
Trade debtors 4,028 5,561
Other debtors 441 671
4,469 6,232
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 14,888 16,131
Other taxes and social security 509 2,466
Other creditors 1,395 1,419
16,792 20,016
6 Creditors: amounts falling due after one year 2023 2022
£ £
Directors loans 8,585 11,742
7 Controlling party
The company is controlled by the directors.
8 Other information
Goodmusic Publishing Limited is a private company limited by shares and incorporated in England. Its registered office is:
Timbrills
Beckford
Tewkesbury
Glos
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