0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-11-01 Sage Accounts Production Advanced 2023 - FRS102_2023 230,185 75,500 25,000 100,500 129,685 154,685 xbrli:pure xbrli:shares iso4217:GBP 08119922 2022-11-01 2023-10-31 08119922 2023-10-31 08119922 2022-10-31 08119922 2021-11-01 2022-10-31 08119922 2022-10-31 08119922 2021-10-31 08119922 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 08119922 bus:Director1 2022-11-01 2023-10-31 08119922 core:WithinOneYear 2023-10-31 08119922 core:WithinOneYear 2022-10-31 08119922 core:ShareCapital 2023-10-31 08119922 core:ShareCapital 2022-10-31 08119922 core:RetainedEarningsAccumulatedLosses 2023-10-31 08119922 core:RetainedEarningsAccumulatedLosses 2022-10-31 08119922 core:CostValuation core:Non-currentFinancialInstruments 2023-10-31 08119922 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2022-10-31 08119922 core:Non-currentFinancialInstruments core:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments 2023-10-31 08119922 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2023-10-31 08119922 core:Non-currentFinancialInstruments 2023-10-31 08119922 core:Non-currentFinancialInstruments 2022-10-31 08119922 bus:SmallEntities 2022-11-01 2023-10-31 08119922 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 08119922 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 08119922 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 08119922 bus:FullAccounts 2022-11-01 2023-10-31 08119922 bus:OrdinaryShareClass1 2023-10-31 08119922 bus:OrdinaryShareClass1 2022-10-31
COMPANY REGISTRATION NUMBER: 08119922
Thumbscrew Music Limited
Filleted Unaudited Financial Statements
For the year ended
31 October 2023
Thumbscrew Music Limited
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
£
Fixed assets
Investments
4
129,685
154,685
Current assets
Debtors
5
2,958
30,000
Cash at bank and in hand
3,393
4,086
-------
--------
6,351
34,086
Creditors: amounts falling due within one year
6
( 215,897)
( 205,765)
---------
---------
Net current liabilities
( 209,546)
( 171,679)
---------
---------
Total assets less current liabilities
( 79,861)
( 16,994)
--------
--------
Net liabilities
( 79,861)
( 16,994)
--------
--------
Capital and reserves
Called up share capital
8
130,100
130,100
Profit and loss account
( 209,961)
( 147,094)
---------
---------
Shareholders deficit
( 79,861)
( 16,994)
---------
---------
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 31 October 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 .
These financial statements were approved by the board of directors and authorised for issue on 29 July 2024 , and are signed on behalf of the board by:
J D Drummond
Director
Company registration number: 08119922
Thumbscrew Music Limited
Notes to the Financial Statements
Year ended 31 October 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 Shipleys LLP, 10 Orange Street, Haymarket, London, England, WC2H 7DQ.
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 are prepared in sterling, which is the functional currency of the entity. Going Concern The financial statements have been prepared on a going concern basis. The directors have assessed the Company's ability to continue as a going concern and have reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Director has assessed the company's ability to continue as a going concern and is satisfied that it remains appropriate to prepare the financial statements on a going concern basis. At the year end, the company has net current liabilities of 2023: £209,546 (2022: £171,679). Included in other creditors is a director's loan of 2023: £214,247 (2022: £204,247), and the director is not seeking immediate repayment of these funds, and will continue to support the company as required. On these grounds, the director considers that the company remains a going concern.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial assets, which include trade and other debtors and cash, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Basic financial liabilities, which include trade and other creditors, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. At each reporting date the company assesses whether there is objective evidence that any financial asset has been impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due. The amount of the provision is recognised immediately in profit or loss.
4. Investments
Other investments other than loans
£
Cost
At 1 November 2022 and 31 October 2023
230,185
---------
Impairment
At 1 November 2022
75,500
Other movements
25,000
---------
At 31 October 2023
100,500
---------
Carrying amount
At 31 October 2023
129,685
---------
At 31 October 2022
154,685
---------
5. Debtors
2023
2022
£
£
Other debtors
2,958
30,000
-------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
215,897
205,765
---------
---------
7. Deferred tax
The company has an unrecognised deferred tax asset of £25,991 (2022: £17,175) which has arisen from losses carried forward. Its recoverability is dependent upon future capital taxable profits arising, the likelihood of which cannot at this stage be determined with reasonable certainty.
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
130,100
130,100
130,100
130,100
---------
---------
---------
---------