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Registration number: 08347425

GJ Music LTD

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2023

 

GJ Music LTD

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

GJ Music LTD

Company Information

Director

Giulia Dona'Dalle Rose

Company secretary

Lea Secretaries Limited

Registered office

5th Floor, North Side 7/10 Chandos Street
Cavendish Square
London
W1G 9DQ

 

GJ Music LTD

(Registration number: 08347425)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

16,735

83,673

Tangible assets

5

-

1

 

16,735

83,674

Current assets

 

Debtors

6

34,392

31,503

Cash at bank and in hand

 

1

2,597

 

34,393

34,100

Creditors: Amounts falling due within one year

7

(1,836,663)

(1,706,155)

Net current liabilities

 

(1,802,270)

(1,672,055)

Net liabilities

 

(1,785,535)

(1,588,381)

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

(1,786,535)

(1,589,381)

Shareholders' deficit

 

(1,785,535)

(1,588,381)

For the financial year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 October 2023
 

.........................................
Giulia Dona'Dalle Rose
Director

 

GJ Music LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
5th Floor, North Side 7/10 Chandos Street
Cavendish Square
London
W1G 9DQ
United Kingdom

These financial statements were authorised for issue by the director on 23 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment - 25% Straight line

 

GJ Music LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less
any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life
shall not exceed ten years.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

GJ Music LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

4

Intangible assets

Internally generated software development costs
£

Total
£

Cost or valuation

At 1 February 2022

167,345

167,345

At 31 January 2023

167,345

167,345

Amortisation

At 1 February 2022

83,672

83,672

Charge for the year

66,938

66,938

At 31 January 2023

150,610

150,610

Carrying amount

At 31 January 2023

16,735

16,735

At 31 January 2022

83,673

83,673

 

GJ Music LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 February 2022

709

709

At 31 January 2023

709

709

Depreciation

At 1 February 2022

708

708

Charge for the year

1

1

At 31 January 2023

709

709

Carrying amount

At 31 January 2023

-

-

At 31 January 2022

1

1

6

Debtors

Current

2023
£

2022
£

Other debtors

34,392

31,503

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

10,526

(11,900)

Accruals and deferred income

4,189

1,019

Other creditors

1,821,948

1,717,036

1,836,663

1,706,155

8

Share capital

Allotted, called up and fully paid shares

 

GJ Music LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

1,000

1,000

100

100