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REGISTERED NUMBER: 04156162 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

ED BASSETT MUSIC LIMITED

ED BASSETT MUSIC LIMITED (REGISTERED NUMBER: 04156162)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ED BASSETT MUSIC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: E F Bassett





SECRETARY: Mrs L Evans





REGISTERED OFFICE: 20 Harcourt Street
London
W1H 4HG





REGISTERED NUMBER: 04156162 (England and Wales)





ACCOUNTANTS: William Evans & Partners
20 Harcourt Street
London
W1H 4HG

ED BASSETT MUSIC LIMITED (REGISTERED NUMBER: 04156162)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 154,084 119,589

CURRENT ASSETS
Debtors 5 6,213 4,593
Cash at bank 24,327 65,135
30,540 69,728
CREDITORS
Amounts falling due within one year 6 (40,683 ) (58,454 )
NET CURRENT (LIABILITIES)/ASSETS (10,143 ) 11,274
TOTAL ASSETS LESS CURRENT
LIABILITIES

143,941

130,863

CREDITORS
Amounts falling due after more than one
year

7

(29,990

)

(38,687

)

PROVISIONS FOR LIABILITIES (8,415 ) (2,000 )
NET ASSETS 105,536 90,176

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 105,436 90,076
SHAREHOLDERS' FUNDS 105,536 90,176

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ED BASSETT MUSIC LIMITED (REGISTERED NUMBER: 04156162)

BALANCE SHEET - continued
29 FEBRUARY 2024


The 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.

The financial statements were approved by the director and authorised for issue on 19 November 2024 and were signed by:





E F Bassett - Director


ED BASSETT MUSIC LIMITED (REGISTERED NUMBER: 04156162)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Ed Bassett Music Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net charges for services and hire of goods and is recognised when the service or hire is performed.

Tangible fixed assets
No depreciation is charged upon the company's freehold land and buildings. Depreciation is provided on all other assets on a reducing balance basis at 25 % per annum in order to write off the cost of each asset over its estimated life.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

ED BASSETT MUSIC LIMITED (REGISTERED NUMBER: 04156162)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023 109,793 106,410 216,203
Additions - 49,283 49,283
At 29 February 2024 109,793 155,693 265,486
DEPRECIATION
At 1 March 2023 - 96,614 96,614
Charge for year - 14,788 14,788
At 29 February 2024 - 111,402 111,402
NET BOOK VALUE
At 29 February 2024 109,793 44,291 154,084
At 28 February 2023 109,793 9,796 119,589

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,220 3,600
Other debtors 993 993
6,213 4,593

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 11,710 11,710
Hire purchase contracts 4,898 -
Trade creditors 399 399
Taxation and social security 13,137 24,841
Other creditors 10,539 21,504
40,683 58,454

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 16,630 38,687
Hire purchase contracts 13,360 -
29,990 38,687

8. RELATED PARTY DISCLOSURES

Mr E.F. Bassett, a director and major shareholder, has made loans to this company which at 29th February 2024 amounted to £4,133.90 (28th February 2023: £16,498).

ED BASSETT MUSIC LIMITED (REGISTERED NUMBER: 04156162)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

9. ULTIMATE CONTROLLING PARTY

Mr E F Bassett, the sole director of the company, is also the ultimate controlling party, having a beneficial interest in the whole of the issued share capital.