REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 |
FOR |
THE BRITISH ACADEMY OF NEW MUSIC LIMITED |
COMPANY LIMITED BY GUARANTEE |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 |
FOR |
THE BRITISH ACADEMY OF NEW MUSIC LIMITED |
COMPANY LIMITED BY GUARANTEE |
THE BRITISH ACADEMY OF NEW MUSIC LIMITED (REGISTERED NUMBER: 04218797) |
COMPANY LIMITED BY GUARANTEE |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2024 |
Page |
Statement of Financial Position | 1 |
Notes to the Financial Statements | 2 | to | 3 |
THE BRITISH ACADEMY OF NEW MUSIC LIMITED (REGISTERED NUMBER: 04218797) |
COMPANY LIMITED BY GUARANTEE |
STATEMENT OF FINANCIAL POSITION |
31 AUGUST 2024 |
31.8.24 | 31.8.23 |
£ | £ |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES | - | - |
The directors acknowledge their 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 surplus or deficit 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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
THE BRITISH ACADEMY OF NEW MUSIC LIMITED (REGISTERED NUMBER: 04218797) |
COMPANY LIMITED BY GUARANTEE |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2024 |
1. | STATUTORY INFORMATION |
The British Academy of New Music Limited is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
The financial statements are prepared in sterling, which is the functional currency of the entity. |
The company was dormant throughout the current year and previous year. |
INCOME STATEMENT |
The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current year or prior year and therefore no income statement is presented within these financial statements. There have been no movements in members funds during the current year or prior year. |
THE BRITISH ACADEMY OF NEW MUSIC LIMITED (REGISTERED NUMBER: 04218797) |
COMPANY LIMITED BY GUARANTEE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2024 |
2. | ACCOUNTING POLICIES - continued |
FINANCIAL INSTRUMENTS |
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. |
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
Debt instruments are subsequently measured at amortised cost. |
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. |
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. |
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. |
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. |
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | COMPANY LIMITED BY GUARANTEE |
The company is limited by guarantee, and has no share capital. |
5. | EVENTS AFTER THE END OF THE REPORTING PERIOD |
There were no significant events up to the date of approval of the financial statements by the Board. |
6. | ULTIMATE CONTROLLING PARTY |
The company is a wholly-owned subsidiary of Access Further Education Limited, a company incorporated in England and Wales. |