Company Registration No. 01424880 (England and Wales)
BIG NOTE MUSIC LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
BIG NOTE MUSIC LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
BIG NOTE MUSIC LIMITED
BALANCE SHEET
AS AT
30 DECEMBER 2023
30 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
23,202
30,829
Current assets
Debtors
4
-
0
33
Cash at bank and in hand
4,607
2,623
4,607
2,656
Creditors: amounts falling due within one year
5
(216,821)
(240,670)
Net current liabilities
(212,214)
(238,014)
Total assets less current liabilities
(189,012)
(207,185)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(189,112)
(207,285)
Total equity
(189,012)
(207,185)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 26 July 2024 and are signed on its behalf by:
N Hill
Director
Company Registration No. 01424880
BIG NOTE MUSIC LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Big Note Music Limited is a private company limited by shares incorporated in England and Wales. The registered office is 45 Burnaby Street, London, SW10 0PW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. The validity of this assumption is based on the continued support of the directors. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statement.

1.3
Turnover

Turnover represents the invoiced value of services provided towards music production and entertainment during the year.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
12.5% on reducing balance
Computer equipment
33.33% on straight line method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

BIG NOTE MUSIC LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors,are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

There were no employees during the year other than the directors.

 

3
Tangible fixed assets
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
Cost
At 31 December 2022 and 30 December 2023
115,507
22,766
138,273
Depreciation and impairment
At 31 December 2022
91,557
15,887
107,444
Depreciation charged in the year
2,931
4,696
7,627
At 30 December 2023
94,488
20,583
115,071
Carrying amount
At 30 December 2023
21,019
2,183
23,202
At 30 December 2022
23,950
6,879
30,829
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
-
0
33
BIG NOTE MUSIC LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 DECEMBER 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
215,021
236,470
Accruals
1,800
4,200
216,821
240,670
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