0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-02-28 Sage Accounts Production Advanced 2023 - FRS102_2023 10,656 7,371 491 7,862 2,794 3,285 xbrli:pure xbrli:shares iso4217:GBP 06832134 2022-02-28 2023-02-27 06832134 2023-02-27 06832134 2022-02-27 06832134 2021-02-28 2022-02-27 06832134 2022-02-27 06832134 2021-02-27 06832134 bus:Director2 2022-02-28 2023-02-27 06832134 core:WithinOneYear 2023-02-27 06832134 core:WithinOneYear 2022-02-27 06832134 core:AfterOneYear 2023-02-27 06832134 core:AfterOneYear 2022-02-27 06832134 core:UKTax 2022-02-28 2023-02-27 06832134 core:UKTax 2021-02-28 2022-02-27 06832134 core:ShareCapital 2023-02-27 06832134 core:ShareCapital 2022-02-27 06832134 core:RetainedEarningsAccumulatedLosses 2023-02-27 06832134 core:RetainedEarningsAccumulatedLosses 2022-02-27 06832134 bus:SmallEntities 2022-02-28 2023-02-27 06832134 bus:AuditExemptWithAccountantsReport 2022-02-28 2023-02-27 06832134 bus:SmallCompaniesRegimeForAccounts 2022-02-28 2023-02-27 06832134 bus:PrivateLimitedCompanyLtd 2022-02-28 2023-02-27 06832134 bus:FullAccounts 2022-02-28 2023-02-27 06832134 core:ComputerEquipment 2022-02-28 2023-02-27 06832134 core:ComputerEquipment 2023-02-27 06832134 core:ComputerEquipment 2022-02-27
COMPANY REGISTRATION NUMBER: 06832134
XIDUS MUSIC LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
27 February 2023
XIDUS MUSIC LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 27 FEBRUARY 2023
CONTENTS
PAGES
Statement of financial position
1 to 2
Notes to the financial statements
3 to 4
XIDUS MUSIC LIMITED
STATEMENT OF FINANCIAL POSITION
27 February 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
2,794
3,285
CURRENT ASSETS
Debtors
6
44,653
41,110
Cash at bank and in hand
2
121
--------
--------
44,655
41,231
CREDITORS: amounts falling due within one year
7
( 47,679)
( 42,331)
--------
--------
NET CURRENT LIABILITIES
( 3,024)
( 1,100)
-------
-------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 230)
2,185
CREDITORS: amounts falling due after more than one year
8
( 5,571)
( 7,896)
PROVISIONS
Taxation including deferred tax
( 624)
( 624)
-------
-------
NET LIABILITIES
( 6,425)
( 6,335)
-------
-------
CAPITAL AND RESERVES
Called up share capital
3
3
Profit and loss account
( 6,428)
( 6,338)
-------
-------
SHAREHOLDERS DEFICIT
( 6,425)
( 6,335)
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 27 February 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
XIDUS MUSIC LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
27 February 2023
These financial statements were approved by the board of directors and authorised for issue on 23 November 2023 , and are signed on behalf of the board by:
R Stroud
Director
Company registration number: 06832134
XIDUS MUSIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 27 FEBRUARY 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Oswin House, Skipton Road, Ilkley, LS29 9RW.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements have been prepared on the going concern basis. The director considers the going concern basis to be appropriate as he has confirmed his ongoing financial support of the company. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of services supplied inclusive of Value Added Tax.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation to date.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
15% reducing balance
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. TAX ON (LOSS)/PROFIT
Major components of tax income
2023
2022
£
£
Current tax:
UK current tax (income)/expense
( 525)
525
Adjustments in respect of prior periods
( 1,997)
----
-------
Total current tax
( 525)
( 1,472)
----
-------
Deferred tax:
Origination and reversal of timing differences
( 110)
----
-------
Tax on (loss)/profit
( 525)
( 1,582)
----
-------
5. TANGIBLE ASSETS
Equipment
Total
£
£
Cost
At 28 February 2022 and 27 February 2023
10,656
10,656
--------
--------
Depreciation
At 28 February 2022
7,371
7,371
Charge for the year
491
491
--------
--------
At 27 February 2023
7,862
7,862
--------
--------
Carrying amount
At 27 February 2023
2,794
2,794
--------
--------
At 27 February 2022
3,285
3,285
--------
--------
6. DEBTORS
2023
2022
£
£
Other debtors
44,653
41,110
--------
--------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
2,400
2,400
Other creditors
45,279
39,931
--------
--------
47,679
42,331
--------
--------
8. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
5,571
7,896
-------
-------