Bell Music Ltd 05848200 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is renting and leasing of media and entertainment equipmen Digita Accounts Production Advanced 6.30.9574.0 true 05848200 2023-04-01 2024-03-31 05848200 2024-03-31 05848200 bus:Director1 1 2024-03-31 05848200 bus:OrdinaryShareClass1 2024-03-31 05848200 core:CurrentFinancialInstruments 2024-03-31 05848200 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 05848200 core:FurnitureFittingsToolsEquipment 2024-03-31 05848200 core:LandBuildings 2024-03-31 05848200 core:MotorVehicles 2024-03-31 05848200 core:AllAssociates 2024-03-31 05848200 core:OtherRelatedParties 2024-03-31 05848200 bus:SmallEntities 2023-04-01 2024-03-31 05848200 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05848200 bus:FilletedAccounts 2023-04-01 2024-03-31 05848200 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05848200 bus:RegisteredOffice 2023-04-01 2024-03-31 05848200 bus:Director1 2023-04-01 2024-03-31 05848200 bus:Director1 1 2023-04-01 2024-03-31 05848200 bus:Director2 2023-04-01 2024-03-31 05848200 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 05848200 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05848200 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 05848200 core:LandBuildings 2023-04-01 2024-03-31 05848200 core:LeaseholdImprovements 2023-04-01 2024-03-31 05848200 core:MotorCars 2023-04-01 2024-03-31 05848200 core:MotorVehicles 2023-04-01 2024-03-31 05848200 core:PlantMachinery 2023-04-01 2024-03-31 05848200 core:AllAssociates 2023-04-01 2024-03-31 05848200 core:OtherRelatedParties 2023-04-01 2024-03-31 05848200 countries:AllCountries 2023-04-01 2024-03-31 05848200 2023-03-31 05848200 bus:Director1 1 2023-03-31 05848200 core:FurnitureFittingsToolsEquipment 2023-03-31 05848200 core:LandBuildings 2023-03-31 05848200 core:MotorVehicles 2023-03-31 05848200 core:AllAssociates 2023-03-31 05848200 core:OtherRelatedParties 2023-03-31 05848200 2022-04-01 2023-03-31 05848200 2023-03-31 05848200 bus:OrdinaryShareClass1 2023-03-31 05848200 core:CurrentFinancialInstruments 2023-03-31 05848200 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 05848200 core:FurnitureFittingsToolsEquipment 2023-03-31 05848200 core:LandBuildings 2023-03-31 05848200 core:MotorVehicles 2023-03-31 05848200 core:AllAssociates 2023-03-31 05848200 core:OtherRelatedParties 2023-03-31 05848200 core:AllAssociates 2022-04-01 2023-03-31 05848200 core:OtherRelatedParties 2022-04-01 2023-03-31 05848200 2022-03-31 05848200 core:AllAssociates 2022-03-31 05848200 core:OtherRelatedParties 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05848200

Bell Music Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2024

 

Bell Music Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 9

 

Bell Music Ltd

Company Information

Directors

M J Perry

D M Perry

Registered office

84 Rodwell Road
Weymouth
Dorset
DT4 8QU

Accountants

Spirare Limited
Certified chartered
Mey House
Bridport Road
Poundbury
Dorset
DT1 3QY

 

Bell Music Ltd

(Registration number: 05848200)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,638

30,950

Current assets

 

Debtors

6

859,755

1,108,188

Cash at bank and in hand

 

196,772

17,593

 

1,056,527

1,125,781

Creditors: Amounts falling due within one year

(3,837)

(78,211)

Net current assets

 

1,052,690

1,047,570

Total assets less current liabilities

 

1,054,328

1,078,520

Provisions for liabilities

(410)

(1,759)

Accruals and deferred income

 

(2,175)

(3,000)

Net assets

 

1,051,743

1,073,761

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

1,051,742

1,073,760

Shareholders' funds

 

1,051,743

1,073,761

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 Music Ltd

(Registration number: 05848200)
Abridged Balance Sheet as at 31 March 2024

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

 

Bell Music 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 goods and provision 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 and deferred 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.

 

Bell Music Ltd

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

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

Improvements to property

10% on cost

Plant and machinery

5% - 10% on cost

Fixtures, fittings and equipment

20% on cost

Motor vehicles

20% on cost

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Bell Music 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.

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 - 1).

 

Bell Music 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
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

270,472

128,033

64,201

462,706

Disposals

-

-

(18,401)

(18,401)

At 31 March 2024

270,472

128,033

45,800

444,305

Depreciation

At 1 April 2023

242,632

124,923

64,201

431,756

Charge for the year

27,840

1,472

-

29,312

Eliminated on disposal

-

-

(18,401)

(18,401)

At 31 March 2024

270,472

126,395

45,800

442,667

Carrying amount

At 31 March 2024

-

1,638

-

1,638

At 31 March 2023

27,840

3,110

-

30,950

Included within the net book value of land and buildings above is £Nil (2023 - £27,840) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

6

Debtors

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

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

1

1

1

1

       

8

Related party transactions

 

Bell Music 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 which is repayable on demand

-

(520)

(520)

 

Bell Music 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

-

1,200

Summary of transactions with associates

Bell Music Ltd is associated with IMM Music by virtue of M J Perry has control of both companies. The balance due from IMM Music Ltd at the end of the year was £245,974 (2023 - £243,302)
 

Summary of transactions with other related parties

Bell Percussion Ltd has ownership of the trading company Bell Music Ltd by virtue of owning 100% share capital. The balance due from Bell Percussion 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

243,302

603,609

846,911

Advanced

2,672

-

2,672

At end of period

245,974

603,609

849,583

2023

Associates
£

Other related parties
£

Total
£

At start of period

-

640,058

640,058

Advanced

243,302

-

243,302

Repaid

-

(36,449)

(36,449)

At end of period

243,302

603,609

846,911