Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-312023-03-31The principal activity of the company continued to be that of artistic creation.2022-04-01false11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12699510 2022-04-01 2023-03-31 12699510 2021-04-01 2022-03-31 12699510 2023-03-31 12699510 2022-03-31 12699510 c:Director1 2022-04-01 2023-03-31 12699510 d:OfficeEquipment 2022-04-01 2023-03-31 12699510 d:OfficeEquipment 2023-03-31 12699510 d:OfficeEquipment 2022-03-31 12699510 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 12699510 d:CurrentFinancialInstruments 2023-03-31 12699510 d:CurrentFinancialInstruments 2022-03-31 12699510 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12699510 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 12699510 d:ShareCapital 2023-03-31 12699510 d:ShareCapital 2022-03-31 12699510 d:RetainedEarningsAccumulatedLosses 2023-03-31 12699510 d:RetainedEarningsAccumulatedLosses 2022-03-31 12699510 c:OrdinaryShareClass1 2022-04-01 2023-03-31 12699510 c:OrdinaryShareClass1 2023-03-31 12699510 c:OrdinaryShareClass1 2022-03-31 12699510 c:FRS102 2022-04-01 2023-03-31 12699510 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 12699510 c:FullAccounts 2022-04-01 2023-03-31 12699510 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 12699510 2 2022-04-01 2023-03-31 12699510 e:PoundSterling 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 12699510














GODDARD MUSIC LTD

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
GODDARD MUSIC LTD
REGISTERED NUMBER:12699510

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
16,389
141

  
16,389
141

Current assets
  

Debtors: amounts falling due within one year
 5 
76,346
18,804

Cash at bank
 6 
97,863
74

  
174,209
18,878

Creditors: amounts falling due within one year
 7 
(90,910)
(6,446)

Net current assets
  
 
 
83,299
 
 
12,432

Total assets less current liabilities
  
99,688
12,573

Provisions for liabilities
  

Deferred tax
  
(4,097)
(35)

  
 
 
(4,097)
 
 
(35)

Net assets
  
95,591
12,538


Capital and reserves
  

Called up share capital 
 8 
1
1

Profit and loss account
  
95,590
12,537

  
95,591
12,538


Page 1

 
GODDARD MUSIC LTD
REGISTERED NUMBER:12699510
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A J Goddard
Director

Date: 15 February 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
GODDARD MUSIC LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Goddard Music Ltd is a private company, limited by shares, registered in England and Wales, registration number 12699510. The registered office address is 154 Kingsley Avenue, Kettering, England, NN16 9EX.
 
The principal activity of the company continued to be that of artistic creation.

 
2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of the Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each year end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within 'administration expenses''. All other foreign exchange gains and losses are presented in profit or loss account.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, and other sales taxes.
Turnover from artistic creation activities is recognised when it is probable the company will receive the rights to the consideration due under the contract.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
GODDARD MUSIC LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

 Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Page 4

 
GODDARD MUSIC LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

 Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

 Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors, trade and other creditors, and loans with related parties.

 
2.11

 Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The average monthly number of employees, including a director, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Office equipment

£



Cost


At 1 April 2022
188


Additions
18,169



At 31 March 2023

18,357



Depreciation


At 1 April 2022
47


Charge for the year
1,921



At 31 March 2023

1,968



Net book value



At 31 March 2023
16,389



At 31 March 2022
141

Page 5

 
GODDARD MUSIC LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Trade debtors
25,574
-

Other debtors
42,599
9,329

Accrued income
8,173
9,475

76,346
18,804



6.


Cash

2023
2022
£
£

Cash at bank
97,863
74



7.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
32,450
-

Corporation tax
27,876
3,946

Other taxation and social security
1,477
-

Other creditors
1,200
-

Accruals
27,907
2,500

90,910
6,446



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) ordinary share of £1.00
1
1

The share has attached to it full rights regarding voting, payment of dividend and distributions.



9.


Transactions with the director

During the year the company advanced £96,684 (2022 - £18,744) to the director. The director repaid £63,414 (2022 - £9,323) to the company. As at the year end, the director owed £42,599 to the company (2022 - £9,329). The loan is unsecured and repayable on demand. Interest has been charged at official rate.

 
Page 6