Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Christopher Laurence Euesden 01/01/2002 Julie Deborah Matthews 01/01/2002 Christine While 01/01/2002 13 September 2024 The principal activity of the company in the year under review was that of the publishing of original music and the management of musical artists. 01700797 2023-12-31 01700797 bus:Director1 2023-12-31 01700797 bus:Director2 2023-12-31 01700797 bus:Director3 2023-12-31 01700797 2022-12-31 01700797 core:CurrentFinancialInstruments 2023-12-31 01700797 core:CurrentFinancialInstruments 2022-12-31 01700797 core:ShareCapital 2023-12-31 01700797 core:ShareCapital 2022-12-31 01700797 core:RetainedEarningsAccumulatedLosses 2023-12-31 01700797 core:RetainedEarningsAccumulatedLosses 2022-12-31 01700797 bus:OrdinaryShareClass1 2023-12-31 01700797 2023-01-01 2023-12-31 01700797 bus:FilletedAccounts 2023-01-01 2023-12-31 01700797 bus:SmallEntities 2023-01-01 2023-12-31 01700797 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 01700797 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01700797 bus:Director1 2023-01-01 2023-12-31 01700797 bus:Director2 2023-01-01 2023-12-31 01700797 bus:Director3 2023-01-01 2023-12-31 01700797 core:TopRangeValue 2023-01-01 2023-12-31 01700797 2022-01-01 2022-12-31 01700797 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 01700797 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 01700797 (England and Wales)

CIRCUIT MUSIC LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

CIRCUIT MUSIC LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

CIRCUIT MUSIC LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
CIRCUIT MUSIC LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS Christopher Laurence Euesden
Julie Deborah Matthews
Christine While
REGISTERED OFFICE 1 Holly Terrace
York
North Yorkshire
YO10 4DS
United Kingdom
COMPANY NUMBER 01700797 (England and Wales)
ACCOUNTANT Yorsolution Ltd
Wellington House
Aviaitor Court
York
YO30 4UZ
CIRCUIT MUSIC LIMITED

BALANCE SHEET

As at 31 December 2023
CIRCUIT MUSIC LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 91 148
91 148
Current assets
Stocks 4 3,096 4,012
Cash at bank and in hand 5 1,896 1,418
4,992 5,430
Creditors: amounts falling due within one year 6 ( 12,428) ( 11,895)
Net current liabilities (7,436) (6,465)
Total assets less current liabilities (7,345) (6,317)
Net liabilities ( 7,345) ( 6,317)
Capital and reserves
Called-up share capital 7 90 90
Profit and loss account ( 7,435 ) ( 6,407 )
Total shareholders' deficit ( 7,345) ( 6,317)

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Circuit Music Limited (registered number: 01700797) were approved and authorised for issue by the Board of Directors on 13 September 2024. They were signed on its behalf by:

Christopher Laurence Euesden
Director
CIRCUIT MUSIC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
CIRCUIT MUSIC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Circuit Music Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1 Holly Terrace, York, North Yorkshire, YO10 4DS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Tangible assets 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 1 1

3. Tangible assets

4. Stocks

2023 2022
£ £
Stocks 3,096 4,012

There are no material differences between the replacement cost of stock and the Balance Sheet amounts.

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 1,896 1,418

6. Creditors: amounts falling due within one year

2023 2022
£ £
Other creditors 12,428 11,895

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
90 Ordinary shares of £ 1.00 each 90 90