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Registration number: 02139373

Bell Percussion Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2024

 

Bell Percussion Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 9

 

Bell Percussion Ltd

Company Information

Directors

I G Perry

D M Perry

M J Perry

M A Perry

J A Perry

Registered office

84 Rodwell Road
Weymouth
Dorset
DT4 8QU

Accountants

Spirare Limited
Chartered certified
Mey House
Bridport Road
Poundbury
Dorset
DT1 3QY

 

Bell Percussion Ltd

(Registration number: 02139373)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

904,293

1,237,853

Investments

1

1

 

904,294

1,237,854

Current assets

 

Debtors

5

242,811

-

Cash at bank and in hand

 

864,053

153,328

 

1,106,864

153,328

Creditors: Amounts falling due within one year

(902,061)

(725,155)

Net current assets/(liabilities)

 

204,803

(571,827)

Total assets less current liabilities

 

1,109,097

666,027

Accruals and deferred income

 

(1,208)

(1,008)

Net assets

 

1,107,889

665,019

Capital and reserves

 

Called up share capital

6

1,000

1,000

Retained earnings

1,106,889

664,019

Shareholders' funds

 

1,107,889

665,019

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

Directors' 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 directors acknowledge their 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 October 2024 and signed on its behalf by:
 

 

Bell Percussion Ltd

(Registration number: 02139373)
Abridged Balance Sheet as at 31 March 2024

.........................................
M J Perry
Director

 

Bell Percussion Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
84 Rodwell Road
Weymouth
Dorset
DT4 8QU

These financial statements were authorised for issue by the Board on 16 October 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.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Bell Percussion Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

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

Freehold Buildings

2% on cost

Fixtures and fittings

20% on cost

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Intangible assets


Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Bell Percussion Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 directors) during the year, was 1 (2023 - 3).

 

Bell Percussion Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

1,432,775

11,665

1,444,440

Disposals

(403,035)

-

(403,035)

At 31 March 2024

1,029,740

11,665

1,041,405

Depreciation

At 1 April 2023

194,922

11,665

206,587

Charge for the year

14,219

-

14,219

Eliminated on disposal

(83,694)

-

(83,694)

At 31 March 2024

125,447

11,665

137,112

Carrying amount

At 31 March 2024

904,293

-

904,293

At 31 March 2023

1,237,853

-

1,237,853

Included within the net book value of land and buildings above is £904,293 (2023 - £1,237,853) in respect of freehold land and buildings.
 

5

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

375

375

375

375

Ordinary B of £1 each

5

5

5

5

Ordinary C of £1 each

5

5

5

5

Ordinary D of £1 each

615

615

615

615

1,000

1,000

1,000

1,000

7

Related party transactions

 

Bell Percussion Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Transactions with directors

2024

At 1 April 2023
£

Repayments by director
£

At 31 March 2024
£

M J Perry

The director maintains an interest free loan account which is repayable on demand

(2,419)

(1,520)

(3,939)

2023

At 1 April 2022
£

At 31 March 2023
£

M J Perry

The director maintains an interest free loan account which is repayable on demand

(2,419)

(2,419)

 

Bell Percussion Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Contributions paid to money purchase schemes

60,000

40,000

Summary of transactions with associates

Bell Percussion Ltd is associated with IMM Music Ltd by virtue of M J Perry Director has control of both companies. The balance due from IMM Music Ltd at the end of year was £228,516 (2023 - -£2,672)
 

Summary of transactions with other related parties

Bell Percussion Ltd has ownsership of the trading company Bell Music Ltd by virtue of owning 100% share capital. The balance due to Bell Music Ltd at the end of year was £603,609 (2023 - £603,609)
 

Loans to related parties

2024

Associates
£

Other related parties
£

Total
£

At start of period

(2,672)

(603,609)

(606,281)

Advanced

261,188

-

261,188

Repaid

(30,000)

-

(30,000)

At end of period

228,516

(603,609)

(375,093)

2023

Associates
£

Other related parties
£

Total
£

At start of period

(2,672)

(640,058)

(642,730)

Repaid

-

36,449

36,449

At end of period

(2,672)

(603,609)

(606,281)