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Registered Number: 08942870
England and Wales

 

 

 

DE-COMPOSED MUSIC LIMITED


Filleted Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Director Colin McGinness
Registered Number 08942870
Registered Office 68 Cotswold Road
Windmill Hill
Bristol
BS3 4NT
Accountants Bond & Co Chartered Certified Accountants
66 Gloucester Road
Bishopston
Bristol
BS7 8BH
1
Director's report and financial statements
The director presents his annual report and the financial statements for the year ended 31 March 2024.
Principal activities
Principal activity of the company during the financial year was of music production.
Director
The director who served the company throughout the year was as follows:
Colin McGinness
Statement of director's responsibilities
The director is responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The director is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
Colin McGinness
Director

Date approved: 15 August 2024
2
Report to the directors on the preparation of the unaudited statutory accounts of De-Composed Music Limited for the year ended 31 March 2024. In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of De-Composed Music Limited for the year ended 31 March 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/. This report is made solely to the Board of Directors of De-Composed Music Limited, as a body, in accordance with the terms of our engagement letter dated 22 May 2020. Our work has been undertaken solely to prepare for your approval the accounts of De-Composed Music Limited and state those matters that we have agreed to state to the Board of Directors of De-Composed Music Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than De-Composed Music Limited and its Board of Directors as a body for our work or for this report. It is your duty to ensure that De-Composed Music Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of De-Composed Music Limited. You consider that De-Composed Music Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the accounts of De-Composed Music Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts 31 March 2024.


Bond & Co Chartered Certified Accountants
66 Gloucester Road
Bishopston
Bristol
BS7 8BH
15 August 2024
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 7,436    9,108 
7,436    9,108 
Current assets      
Debtors 4 4,000    4,000 
Cash at bank and in hand 84,144    68,976 
88,144    72,976 
Creditors: amount falling due within one year 5 (21,464)   (10,606)
Net current assets 66,680    62,370 
 
Total assets less current liabilities 74,116    71,478 
Provisions for liabilities 6 (1,413)   (1,730)
Net assets 72,703    69,748 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 72,702    69,747 
Shareholders' funds 72,703    69,748 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 15 August 2024 and were signed by:


-------------------------------
Colin McGinness
Director
4
General Information
De-Composed Music Limited is a private company, limited by shares, registered in England and Wales, registration number 08942870, registration address 68 Cotswold Road, Windmill Hill, Bristol, BS3 4NT.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 April 2023 28,828    28,828 
Additions 807    807 
Disposals  
At 31 March 2024 29,635    29,635 
Depreciation
At 01 April 2023 19,720    19,720 
Charge for year 2,479    2,479 
On disposals  
At 31 March 2024 22,199    22,199 
Net book values
Closing balance as at 31 March 2024 7,436    7,436 
Opening balance as at 01 April 2023 9,108    9,108 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 4,000    4,000 
4,000    4,000 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Corporation Tax 3,357    3,710 
PAYE & Social Security   161 
Accrued Expenses 1,140    996 
Directors' Current Accounts 16,967    5,739 
21,464    10,606 

6.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 1,413    1,730 
1,413    1,730 

5