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Registration number: 5430567

Forte School of Music (Cardiff) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Forte School of Music (Cardiff) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Forte School of Music (Cardiff) Limited

Company Information

Director

Jane Coles

Registered office

4 Radyr Court Shops
Danescourt
Cardiff
CF5 2SF

Accountants

AIMS Accountants for Business
 
C12
12 Cathedral Road
Cardiff
CF11 9LJ

 

Forte School of Music (Cardiff) Limited

(Registration number: 5430567)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

3,264

4,353

Current assets

 

Stocks

5

10,839

9,294

Cash at bank and in hand

 

55,833

70,643

 

66,672

79,937

Creditors: Amounts falling due within one year

6

(20,037)

(16,549)

Net current assets

 

46,635

63,388

Total assets less current liabilities

 

49,899

67,741

Creditors: Amounts falling due after more than one year

6

(33,506)

(39,460)

Net assets

 

16,393

28,281

Capital and reserves

 

Called up share capital

100

100

Retained earnings

16,293

28,181

Shareholders' funds

 

16,393

28,281

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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Forte School of Music (Cardiff) Limited

(Registration number: 5430567)
Balance Sheet as at 31 December 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 September 2024
 

.........................................
Jane Coles
Director

 

Forte School of Music (Cardiff) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in the UK.

The address of its registered office is:
4 Radyr Court Shops
Danescourt
Cardiff
CF5 2SF

These financial statements were authorised for issue by the director on 26 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration derived from sales of goods and services. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% of reducing balance

 

Forte School of Music (Cardiff) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Plant and machinery

25% of reducing balance

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2022 - 7).

 

Forte School of Music (Cardiff) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

5,475

31,865

37,340

At 31 December 2023

5,475

31,865

37,340

Depreciation

At 1 January 2023

1,369

31,618

32,987

Charge for the year

1,027

62

1,089

At 31 December 2023

2,396

31,680

34,076

Carrying amount

At 31 December 2023

3,079

185

3,264

At 31 December 2022

4,106

247

4,353

5

Stocks

2023
£

2022
£

Other inventories

10,839

9,294

 

Forte School of Music (Cardiff) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

7

5,283

5,283

trade creditors

 

-

191

Amounts owed to related parties

454

27

Taxation and social security

 

4,922

3,819

Other creditors

 

9,378

7,229

 

20,037

16,549

Due after one year

 

Loans and borrowings

7

33,506

39,460

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

33,506

39,460

7

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

33,506

39,460

Current loans and borrowings

2023
£

2022
£

Bank borrowings

5,283

5,283