Company Registration No. 10138786 (England and Wales)
PELICAN MUSIC LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2022
PAGES FOR FILING WITH REGISTRAR
10 Bridge Street
Christchurch
Dorset
BH23 1EF
PELICAN MUSIC LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
PELICAN MUSIC LIMITED
COMPANY INFORMATION
- 1 -
Director
Ms A Hamilton
Company number
10138786
Registered office
Flat 2
240 Evering Road
London
E5 8AJ
Accountants
TC Group
10 Bridge Street
Christchurch
Dorset
BH23 1EF
PELICAN MUSIC LIMITED
BALANCE SHEET
AS AT 31 AUGUST 2022
31 August 2022
- 2 -
2022
2021
Notes
£
£
£
£
Fixed assets
Intangible assets
3
1,750
3,400
Tangible assets
4
6,818
5,625
8,568
9,025
Current assets
Debtors
5
12,222
3,240
Creditors: amounts falling due within one year
6
(94,122)
(48,595)
Net current liabilities
(81,900)
(45,355)
Total assets less current liabilities
(73,332)
(36,330)
Creditors: amounts falling due after more than one year
7
(39,344)
(38,696)
Net liabilities
(112,676)
(75,026)
Capital and reserves
Profit and loss reserves
(112,676)
(75,026)
PELICAN MUSIC LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2022
31 August 2022
- 3 -

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 31 October 2023
Ms A Hamilton
Director
Company Registration No. 10138786
The notes on pages 4 to 8 form part of these financial statements
PELICAN MUSIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
- 4 -
1
Accounting policies
Company information

Pelican Music Limited is a private company limited by shares incorporated in England and Wales. The registered office is Flat 2, 240 Evering Road, London, E5 8AJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements. The validity of this assumption is on the basis that the company will continue to be supported by the director.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Intangible fixed assets
3 years straight line
PELICAN MUSIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
1
Accounting policies
(Continued)
- 5 -
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

PELICAN MUSIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
1
Accounting policies
(Continued)
- 6 -
1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
6
5
3
Intangible fixed assets
Intangible fixed assets
£
Cost
At 1 September 2021 and 31 August 2022
5,000
Amortisation and impairment
At 1 September 2021
1,600
Amortisation charged for the year
1,650
At 31 August 2022
3,250
Carrying amount
At 31 August 2022
1,750
At 31 August 2021
3,400
PELICAN MUSIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
- 7 -
4
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 September 2021
7,500
Additions
4,091
At 31 August 2022
11,591
Depreciation and impairment
At 1 September 2021
1,875
Depreciation charged in the year
2,898
At 31 August 2022
4,773
Carrying amount
At 31 August 2022
6,818
At 31 August 2021
5,625
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
10,145
-
0
Other debtors
-
0
1,630
Prepayments and accrued income
2,077
1,610
12,222
3,240
6
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
30,359
23,412
Taxation and social security
24,355
5,586
Other creditors
35,798
16,507
Accruals and deferred income
3,610
3,090
94,122
48,595
PELICAN MUSIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
- 8 -
7
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
39,344
38,696
8
Member's liability

The company is limited by guarantee, not having share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

2022-08-312021-09-01false31 October 2023CCH SoftwareCCH Accounts Production 2023.300No description of principal activityMs A Hamiltonfalse10138786101387862021-09-012022-08-3110138786bus:Director12021-09-012022-08-3110138786bus:RegisteredOffice2021-09-012022-08-31101387862022-08-31101387862021-08-3110138786core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-08-3110138786core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2021-08-3110138786core:FurnitureFittings2022-08-3110138786core:FurnitureFittings2021-08-3110138786core:CurrentFinancialInstrumentscore:WithinOneYear2022-08-3110138786core:CurrentFinancialInstrumentscore:WithinOneYear2021-08-3110138786core:Non-currentFinancialInstrumentscore:AfterOneYear2022-08-3110138786core:Non-currentFinancialInstrumentscore:AfterOneYear2021-08-3110138786core:RetainedEarningsAccumulatedLosses2022-08-3110138786core:RetainedEarningsAccumulatedLosses2021-08-3110138786core:IntangibleAssetsOtherThanGoodwill2021-09-012022-08-3110138786core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2021-09-012022-08-3110138786core:FurnitureFittings2021-09-012022-08-31101387862020-09-012021-08-3110138786core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2021-08-3110138786core:FurnitureFittings2021-08-3110138786core:CurrentFinancialInstruments2022-08-3110138786core:CurrentFinancialInstruments2021-08-3110138786core:Non-currentFinancialInstruments2022-08-3110138786core:Non-currentFinancialInstruments2021-08-3110138786bus:PrivateLimitedCompanyLtd2021-09-012022-08-3110138786bus:SmallCompaniesRegimeForAccounts2021-09-012022-08-3110138786bus:FRS1022021-09-012022-08-3110138786bus:AuditExemptWithAccountantsReport2021-09-012022-08-3110138786bus:FullAccounts2021-09-012022-08-31xbrli:purexbrli:sharesiso4217:GBP