Registered number
08917513
Woodblock Music Limited
Unaudited Filleted Accounts
31 March 2023
Woodblock Music Limited
Registered number: 08917513
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 63,622 79,815
Current assets
Debtors 5 255 100
Cash at bank and in hand 266,607 201,349
266,862 201,449
Creditors: amounts falling due within one year 6 (92,486) (90,711)
Net current assets 174,376 110,738
Total assets less current liabilities 237,998 190,553
Provisions for liabilities (12,088) (15,165)
Net assets 225,910 175,388
Capital and reserves
Called up share capital 100 100
Profit and loss account 225,810 175,288
Shareholders' funds 225,910 175,388
The director is 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 director acknowledges his 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.
M.G. Reed
Director
Approved by the board on 8 October 2023
Woodblock Music Limited
Notes to the Accounts
for the year ended 31 March 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.
Government grants
Government grants for revenue projects are taken to the Profit & Loss account when received.

Government grants for capital projects are transferred to deferred income and released to the Profit & Loss account over the life of the capital asset to which they relate.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.

Goodwill represents the consideration paid for the business in 2014.
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:
Property improvements 10% straight line
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Motor vehicles 25% straight line
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 56,750
At 31 March 2023 56,750
Amortisation
At 1 April 2022 56,750
At 31 March 2023 56,750
Net book value
At 31 March 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 4,645 55,754 55,990 116,389
Additions - 4,888 - 4,888
At 31 March 2023 4,645 60,642 55,990 121,277
Depreciation
At 1 April 2022 1,208 34,199 1,167 36,574
Charge for the year 279 6,804 13,998 21,081
At 31 March 2023 1,487 41,003 15,165 57,655
Net book value
At 31 March 2023 3,158 19,639 40,825 63,622
At 31 March 2022 3,437 21,555 54,823 79,815
5 Debtors 2023 2022
£ £
Other debtors 255 100
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 1,160
Taxation and social security costs 39,440 35,410
Other creditors 53,046 54,141
92,486 90,711
7 Controlling party
The company is controlled by M.G. Reed who is its director and a shareholder.
8 Other information
Woodblock Music Limited is a private company limited by shares and incorporated in England. Its registered office is:
Maidenford
Goodleigh
Barnstaple
Devon
EX32 7NG
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