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REGISTERED NUMBER: 00974349 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

ELECTRONIC ACCORDIONS LIMITED

ELECTRONIC ACCORDIONS LIMITED (REGISTERED NUMBER: 00974349)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ELECTRONIC ACCORDIONS LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: B. S. Lovell
C M T Lovell





REGISTERED OFFICE: First Floor
Ridgeland House
15 Carfax
Horsham
West Sussex
RH12 1DY





REGISTERED NUMBER: 00974349 (England and Wales)





ACCOUNTANTS: Galloways Accounting
First Floor
Ridgeland House
15 Carfax
Horsham
West Sussex
RH12 1DY

ELECTRONIC ACCORDIONS LIMITED (REGISTERED NUMBER: 00974349)

Balance Sheet
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 31,472 27,972

CURRENT ASSETS
Stocks 289,690 221,961
Debtors 5 50,978 35,240
Cash at bank and in hand 242,895 279,331
583,563 536,532
CREDITORS
Amounts falling due within one year 6 149,356 116,500
NET CURRENT ASSETS 434,207 420,032
TOTAL ASSETS LESS CURRENT
LIABILITIES

465,679

448,004

CREDITORS
Amounts falling due after more than one year 7 (23,333 ) (33,333 )

PROVISIONS FOR LIABILITIES (5,968 ) (5,300 )
NET ASSETS 436,378 409,371

CAPITAL AND RESERVES
Called up share capital 1,785 1,785
Retained earnings 434,593 407,586
SHAREHOLDERS' FUNDS 436,378 409,371

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.

ELECTRONIC ACCORDIONS LIMITED (REGISTERED NUMBER: 00974349)

Balance Sheet - continued
31 MARCH 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 November 2023 and were signed on its behalf by:





C M T Lovell - Director


ELECTRONIC ACCORDIONS LIMITED (REGISTERED NUMBER: 00974349)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Electronic Accordions 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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
Computer equipment - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

ELECTRONIC ACCORDIONS LIMITED (REGISTERED NUMBER: 00974349)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 - 26,162 17,100 9,669 52,931
Additions 3,916 3,051 - 1,910 8,877
Disposals - (524 ) - (1,941 ) (2,465 )
At 31 March 2023 3,916 28,689 17,100 9,638 59,343
DEPRECIATION
At 1 April 2022 - 14,472 6,598 3,889 24,959
Charge for year - 2,205 1,576 1,596 5,377
Eliminated on disposal - (524 ) - (1,941 ) (2,465 )
At 31 March 2023 - 16,153 8,174 3,544 27,871
NET BOOK VALUE
At 31 March 2023 3,916 12,536 8,926 6,094 31,472
At 31 March 2022 - 11,690 10,502 5,780 27,972

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 6,875 5,740
Handel Pianos Limited 3,664 4,499
Other debtors - 1,550
Rent deposit 5,100 5,100
Prepayments and accrued income 35,339 18,351
50,978 35,240

ELECTRONIC ACCORDIONS LIMITED (REGISTERED NUMBER: 00974349)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 45,220 11,764
Tax 13,697 8,003
Social security and other taxes 301 218
VAT 35,909 26,048
Other creditors 160 17,160
Directors' current accounts 32,398 32,398
Accrued expenses 11,671 10,909
149,356 116,500

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 13,333 23,333
23,333 33,333

8. ULTIMATE CONTROLLING PARTY

There is no controlling party.