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REGISTERED NUMBER: 06581977 (England and Wales)















Financial Statements for the Year Ended 30 June 2023

for

Enhanced Music Limited

Enhanced Music Limited (Registered number: 06581977)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Enhanced Music Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: W T R Holland
C Cisneros





REGISTERED OFFICE: 161 Rosebury AVenue
London
EC1R 4QX





REGISTERED NUMBER: 06581977 (England and Wales)





ACCOUNTANTS: Richard Smedley Limited
Chartered Accountants & Registered Auditors
Richmond House
Lawnswood Business Park
Redvers Close
Leeds
West Yorkshire
LS16 6QY

Enhanced Music Limited (Registered number: 06581977)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,585 30,893
Investments 5 11,166 9,810
41,751 40,703

CURRENT ASSETS
Debtors 6 1,023,277 692,847
Cash at bank 453,301 347,793
1,476,578 1,040,640
CREDITORS
Amounts falling due within one year 7 1,190,044 836,176
NET CURRENT ASSETS 286,534 204,464
TOTAL ASSETS LESS CURRENT
LIABILITIES

328,285

245,167

PROVISIONS FOR LIABILITIES 7,646 6,258
NET ASSETS 320,639 238,909

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 320,637 238,907
SHAREHOLDERS' FUNDS 320,639 238,909

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Enhanced Music Limited (Registered number: 06581977)

Balance Sheet - continued
30 June 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 19 January 2024 and were signed on its behalf by:





W T R Holland - Director


Enhanced Music Limited (Registered number: 06581977)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Enhanced Music 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax. Turnover in respect of service contracts is recognised when the company obtains the right to receive consideration for services provided. Income is also received via advertising on the company's website.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Website - 33% on reducing balance
Equipment - 25% on reducing balance
Fixtures and Fittings - 25% on reducing balance

Financial instruments
Basic financial instruments are recognised at amortised cost. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit & loss.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Enhanced Music Limited (Registered number: 06581977)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
Website Equipment Fittings Totals
£    £    £    £   
COST
At 1 July 2022 6,052 51,096 28,512 85,660
Additions - 12,806 - 12,806
Disposals - (17,441 ) (2,021 ) (19,462 )
At 30 June 2023 6,052 46,461 26,491 79,004
DEPRECIATION
At 1 July 2022 5,618 32,921 16,228 54,767
Charge for year 143 7,179 2,924 10,246
Eliminated on disposal - (15,169 ) (1,425 ) (16,594 )
At 30 June 2023 5,761 24,931 17,727 48,419
NET BOOK VALUE
At 30 June 2023 291 21,530 8,764 30,585
At 30 June 2022 434 18,175 12,284 30,893

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 July 2022 9,810
Additions 5,000
Revaluations (3,644 )
At 30 June 2023 11,166
NET BOOK VALUE
At 30 June 2023 11,166
At 30 June 2022 9,810

Enhanced Music Limited (Registered number: 06581977)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 30 June 2023 is represented by:

Other
investments
£   
Valuation in 2022 (31,245 )
Valuation in 2023 (3,644 )
Cost 46,055
11,166

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 160,804 137,050
Amounts owed by group undertakings 200,000 -
Other debtors 662,473 555,797
1,023,277 692,847

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 12,797 34,302
Taxation and social security 136,886 91,679
Other creditors 1,040,361 710,195
1,190,044 836,176

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.23 30.6.22
£    £   
Within one year 41,165 92,700
Between one and five years - 23,175
41,165 115,875

Enhanced Music Limited (Registered number: 06581977)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2023 and 30 June 2022:

30.6.23 30.6.22
£    £   
W T R Holland
Balance outstanding at start of year - -
Amounts advanced 46,583 12,562
Amounts repaid (46,583 ) (12,562 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

C Cisneros
Balance outstanding at start of year - -
Amounts advanced 18,143 18,053
Amounts repaid (18,143 ) (18,053 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -