2022-08-012023-07-312023-07-31falseSC541015D&S MUSIC 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D&S MUSIC LIMITED

Registered Number
SC541015
(Scotland)

Unaudited Financial Statements for the Year ended
31 July 2023

D&S MUSIC LIMITED
Company Information
for the year from 1 August 2022 to 31 July 2023

Directors

BROWN, Diane
BROWN, Stuart James

Registered Address

116 High Street
Irvine
KA12 8AH

Registered Number

SC541015 (Scotland)
D&S MUSIC LIMITED
Balance Sheet as at
31 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets6692333
692333
Current assets
Stocks1,0501,500
Debtors6,725573
Cash at bank and on hand1,0852,376
8,8604,449
Creditors amounts falling due within one year8(6,758)(9,186)
Net current assets (liabilities)2,102(4,737)
Total assets less current liabilities2,794(4,404)
Creditors amounts falling due after one year9(4,870)(7,082)
Net assets(2,076)(11,486)
Capital and reserves
Called up share capital100100
Profit and loss account(2,176)(11,586)
Shareholders' funds(2,076)(11,486)
The financial statements were approved and authorised for issue by the Board of Directors on 12 December 2023, and are signed on its behalf by:
BROWN, Stuart James
Director
Registered Company No. SC541015
D&S MUSIC LIMITED
Notes to the Financial Statements
for the year ended 31 July 2023

1.Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The company's principal activity is Other education not elsewhere classified.
4.Accounting policies
Turnover policy
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.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery50-
Fixtures and fittings-4
Office Equipment-3
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
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.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currency translation and operations policy
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.
5.Employee information

20232022
Average number of employees during the year11
6.Property, plant and equipment

Total

£
Cost or valuation
At 01 August 225,389
Additions693
At 31 July 236,082
Depreciation and impairment
At 01 August 225,056
Charge for year334
At 31 July 235,390
Net book value
At 31 July 23692
At 31 July 22333
7.Debtors within one year

2023

2022

££
Other debtors6,725573
Total6,725573
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.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables1,5941,339
Bank borrowings and overdrafts2,1302,130
Taxation and social security3,0342,048
Other creditors-3,669
Total6,7589,186
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.
9.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts4,8707,082
Total4,8707,082