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REGISTERED NUMBER: 08451915 (England and Wales)


























Financial Statements

for the Year Ended 29 February 2024

for

Vinyl Factory Music Limited

Vinyl Factory Music Limited (Registered number: 08451915)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Vinyl Factory Music Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: T J Robinson
S Bidder





SECRETARY: Camamile Limited





REGISTERED OFFICE: 15 Newland
Lincoln
LN1 1XG





REGISTERED NUMBER: 08451915 (England and Wales)





AUDITORS: Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Vinyl Factory Music Limited (Registered number: 08451915)

Balance Sheet
29 February 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 5 810 508
Cash at bank 731 874
1,541 1,382
CREDITORS
Amounts falling due within one year 6 191,397 190,429
NET CURRENT LIABILITIES (189,856 ) (189,047 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(189,856

)

(189,047

)

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings (189,956 ) (189,147 )
SHAREHOLDERS' FUNDS (189,856 ) (189,047 )

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 Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





T J Robinson - Director


Vinyl Factory Music Limited (Registered number: 08451915)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Vinyl Factory 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.

As explained in Note 11, the company will cease trading within 12 months of the balance sheet date. The financial statements have therefore been prepared on a basis other than that of a going concern which includes, where appropriate, writing down the company’s assets to net realisable value. Provision has also been made for any contractual commitments that have become onerous at the balance sheet date. The financial statements do not include any provision for the future costs of terminating the business of the company except to the extent that such costs were committed at the balance sheet date.

Turnover
Turnover represents net invoiced sales, excluding value added tax. Turnover is recognised on an accruals basis in the period to which it relates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Computer equipment - 25% on cost

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 1,656 1,820 3,476
DEPRECIATION
At 1 March 2023
and 29 February 2024 1,656 1,820 3,476
NET BOOK VALUE
At 29 February 2024 - - -
At 28 February 2023 - - -

Vinyl Factory Music Limited (Registered number: 08451915)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 810 508

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 15 21
Amounts owed to group undertakings 189,267 188,352
VAT 115 201
Accruals and deferred income 2,000 1,855
191,397 190,429

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.


We draw attention to Note 2 to the financial statements which explains that the company is due to cease trading within 12 months, and therefore the directors do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern, as described in Note 2.

Our opinion is not modified in this respect of this matter.

Paul Colcomb FCCA (Senior Statutory Auditor)
for and on behalf of Wright Vigar Limited

9. RELATED PARTY DISCLOSURES

Companies with common directors and shareholders

During the year a loan amount of £915 (2023: £Nil) was received from the parent company and repayments of £Nil (2023: £793) were made to the parent company. At the year end the company owed the parent company £189,267 (2023: £188,352). This is shown within amounts owed to group undertakings on the balance sheet.

During the year the company made net sales to group companies amounting to £1,446 (2023: £603). At the year end the company was owed £810l (2023: £508) from other group companies.

10. CONTROLLING PARTY

The company's parent undertaking is The Vinyl Factory Limited. The registered office of the parent undertaking is 15 Newland, Lincoln, Lincolnshire, LN1 1XG. The principle place of business is 16-18 Marshall Street, London, W1F 7BE.

11. CESSATION OF TRADING

The directors intend to cease the trade and wind up the company within 12 months of the balance sheet date of approval.