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REGISTERED NUMBER: 02244540 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 March 2024

for

Plastic Head Music Distribution Limited

Plastic Head Music Distribution Limited (Registered number: 02244540)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Comprehensive Income 9

Statement of Financial Position 10

Statement of Changes in Equity 11

Statement of Cash Flows 12

Notes to the Statement of Cash Flows 13

Notes to the Financial Statements 15


Plastic Head Music Distribution Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: E Sutcliffe
S Beatty





REGISTERED OFFICE: Avtech House
Hithercroft Road
Wallingford
Oxfordshire
OX10 9DA





REGISTERED NUMBER: 02244540 (England and Wales)





AUDITORS: Cooper Parry Group Limited
Chartered Accountants and Statutory Auditor
3 Danebrook Court
Langford Lane
Kidlington
Oxfordshire
OX5 1LQ

Plastic Head Music Distribution Limited (Registered number: 02244540)

Strategic Report
for the Year Ended 31 March 2024

The directors present their strategic report for the year ended 31 March 2024.

Plastic Head Music Distribution (PHD) Limited is a privately owned company with considerable experience in the music distribution trade having been established in this field for over 25 years. Its 12,000 sq ft headquarters (mixed offices and warehousing) are owned by its pension fund, it rents an additional 24000 sq ft of warehouse nearby, has a workforce of over 60 people, and enjoys an excellent reputation in the industry, being ranked amongst the top 10 distributors in the UK.

REVIEW OF BUSINESS
The past year has seen strong sales. The product range has been increased, with focus still on the margin achievable on all lines. Good margin's have been sustained across the whole product range..

PRINCIPAL RISKS AND UNCERTAINTIES
The board and management team at PHD remain committed to maintaining and improving their position in the markets in which they operate. New products and markets are constantly being investigated, and the existing product range reviewed. The challenge to provide quality products at competitive prices is taken on by the management team on a daily basis.

FUTURE DEVELOPMENTS
PHD will continue to develop and expand its merchandise business, alongside the traditional music industry 'physical' distribution which continues to grow. Products are continually being sourced and developed to reflect the rapidly changing market place, and to reinforce PHD's position as a major distributor in the UK and overseas.

ON BEHALF OF THE BOARD:





E Sutcliffe - Director


8 January 2025

Plastic Head Music Distribution Limited (Registered number: 02244540)

Report of the Directors
for the Year Ended 31 March 2024

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of music production and distribution.

DIVIDENDS
Interim dividends of £144,000 per share were paid during the year. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 March 2024 will be £288,000.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

E Sutcliffe
S Beatty

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Plastic Head Music Distribution Limited (Registered number: 02244540)

Report of the Directors
for the Year Ended 31 March 2024


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Cooper Parry Group Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





E Sutcliffe - Director


8 January 2025

Report of the Independent Auditors to the Members of
Plastic Head Music Distribution Limited

Opinion
We have audited the financial statements of Plastic Head Music Distribution Limited (the 'company') for the year ended 31 March 2024 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Report of the Independent Auditors to the Members of
Plastic Head Music Distribution Limited


Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Plastic Head Music Distribution Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

We obtained an understanding of the legal and regulatory framework applicable to both the company itself
and the industry in which it operates. We identified areas of laws and regulations that could reasonably be
expected to have a material effect on the financial statements from our experience and through discussion
with the management. The most significant were identified as the Companies Act 2006, UK GAAP (FRS102),
and relevant tax legislation.
We considered the extent of compliance with those laws and regulations as part of our procedures on the
related financial statements. Our audit procedures included:
- making enquires of directors and management as to where they consider there to be a susceptibility to
fraud and whether they have any knowledge or suspicion of fraud;
- obtaining an understanding of the internal controls established to mitigate risks related to fraud or
non-compliance with laws and regulations;
- assessing the design effectiveness of the controls in place to prevent and detect fraud;
- assessing the risk of management override of internal controls, including identifying and testing journal
entries;
- challenging the assumptions and judgements made by management in its significant accounting
estimates.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities,
including those leading to a material misstatement in the financial statements or non-compliance with
regulation. This risk increases the more that compliance with a law or regulation is removed from the
events and transactions reflected in the financial statements, as we will be less likely to become aware of
instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather
than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the
Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms
part of our Report of the Auditors.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Plastic Head Music Distribution Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




George Style (Senior Statutory Auditor)
for and on behalf of Cooper Parry Group Limited
Chartered Accountants and Statutory Auditor
3 Danebrook Court
Langford Lane
Kidlington
Oxfordshire
OX5 1LQ

8 January 2025

Plastic Head Music Distribution Limited (Registered number: 02244540)

Statement of Comprehensive Income
for the Year Ended 31 March 2024

31/3/24 31/3/23
Notes £    £   

TURNOVER 15,246,200 15,907,850

Cost of sales (11,773,670 ) (12,240,480 )
GROSS PROFIT 3,472,530 3,667,370

Administrative expenses (3,201,533 ) (3,363,099 )
OPERATING PROFIT 4 270,997 304,271


Interest payable and similar expenses 5 (8 ) (3,207 )
PROFIT BEFORE TAXATION 270,989 301,064

Tax on profit 6 (76,611 ) (63,091 )
PROFIT FOR THE FINANCIAL YEAR 194,378 237,973

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

194,378

237,973

Plastic Head Music Distribution Limited (Registered number: 02244540)

Statement of Financial Position
31 March 2024

31/3/24 31/3/23
Notes £    £   
FIXED ASSETS
Tangible assets 8 262,326 294,632

CURRENT ASSETS
Stocks 9 1,251,224 1,530,391
Debtors 10 1,710,649 1,803,117
Cash at bank 108,723 66,633
3,070,596 3,400,141
CREDITORS
Amounts falling due within one year 11 (3,283,650 ) (3,551,900 )
NET CURRENT LIABILITIES (213,054 ) (151,759 )
TOTAL ASSETS LESS CURRENT LIABILITIES 49,272 142,873

PROVISIONS FOR LIABILITIES 13 (32,956 ) (32,935 )
NET ASSETS 16,316 109,938

CAPITAL AND RESERVES
Called up share capital 14 2 2
Retained earnings 15 16,314 109,936
SHAREHOLDERS' FUNDS 16,316 109,938

The financial statements were approved by the Board of Directors and authorised for issue on 8 January 2025 and were signed on its behalf by:





S Beatty - Director


Plastic Head Music Distribution Limited (Registered number: 02244540)

Statement of Changes in Equity
for the Year Ended 31 March 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 2 159,963 159,965

Changes in equity
Dividends - (288,000 ) (288,000 )
Total comprehensive income - 237,973 237,973
Balance at 31 March 2023 2 109,936 109,938

Changes in equity
Dividends - (288,000 ) (288,000 )
Total comprehensive income - 194,378 194,378
Balance at 31 March 2024 2 16,314 16,316

Plastic Head Music Distribution Limited (Registered number: 02244540)

Statement of Cash Flows
for the Year Ended 31 March 2024

31/3/24 31/3/23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 771,735 13,493
Interest paid (8 ) (3,207 )
Tax paid (71,048 ) (39,403 )
Net cash from operating activities 700,679 (29,117 )

Cash flows from investing activities
Purchase of tangible fixed assets (31,079 ) (1,274 )
Net cash from investing activities (31,079 ) (1,274 )

Cash flows from financing activities
Loan repayments in year (33,333 ) (50,001 )
Amount introduced by directors (1,007 ) 247,581
Amount withdrawn by directors (247,574 ) -
Equity dividends paid (288,000 ) (288,000 )
Net cash from financing activities (569,914 ) (90,420 )

Increase/(decrease) in cash and cash equivalents 99,686 (120,811 )
Cash and cash equivalents at beginning
of year

2

(3,935

)

116,876

Cash and cash equivalents at end of year 2 95,751 (3,935 )

Plastic Head Music Distribution Limited (Registered number: 02244540)

Notes to the Statement of Cash Flows
for the Year Ended 31 March 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31/3/24 31/3/23
£    £   
Profit before taxation 270,989 301,064
Depreciation charges 63,385 73,535
Finance costs 8 3,207
334,382 377,806
Decrease in stocks 279,167 353,643
Decrease in trade and other debtors 93,468 98,627
Increase/(decrease) in trade and other creditors 64,718 (816,583 )
Cash generated from operations 771,735 13,493

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 March 2024
31/3/24 1/4/23
£    £   
Cash and cash equivalents 108,723 66,633
Bank overdrafts (12,972 ) (70,568 )
95,751 (3,935 )
Year ended 31 March 2023
31/3/23 1/4/22
£    £   
Cash and cash equivalents 66,633 125,688
Bank overdrafts (70,568 ) (8,812 )
(3,935 ) 116,876


Plastic Head Music Distribution Limited (Registered number: 02244540)

Notes to the Statement of Cash Flows
for the Year Ended 31 March 2024

3. ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS

At 1/4/23 Cash flow At 31/3/24
£    £    £   
Net cash
Cash at bank 66,633 42,090 108,723
Bank overdrafts (70,568 ) 57,596 (12,972 )
(3,935 ) 99,686 95,751
Debt
Debts falling due within 1 year (33,333 ) 33,333 -
(33,333 ) 33,333 -
Total (37,268 ) 133,019 95,751

Plastic Head Music Distribution Limited (Registered number: 02244540)

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

1. STATUTORY INFORMATION

Plastic Head Music Distribution 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The directors have considered the business activities including the Company's principal risks and uncertainties. The directors have also considered the Company's current cash position as at the date of signing the accounts, and the performance of the business as reflected in its latest management accounts dated 31 October 2024, and the expected performance of the business in the year ahead.
After careful consideration of these areas the directors have received letters of support from the Company's shareholders. The shareholders have confirmed they will provide support to the company, should it be required, for a period of 12 months from the date of signing of the accounts for the year ended 31 March 2024.
Whilst this confirmation is not legally binding, the directors have no indication that the support will not be forthcoming. Considering these factors, the directors are satisfied that it is appropriate to adopt the going concern basis in preparing the financial statements for the year ending 31 March 2023.

Critical accounting judgements and key sources of estimation uncertainty
The key assumptions concerning the future and other key sources of estimation uncertainty at the balance sheet date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year are as follows:

Stocks
A stock provision is booked for cases where the realisable value from sale of stock is estimated to be lower than the stock carrying value. The stock provision is estimated taking into account various factors including the age of the stock, prevailing sales prices, the seasonality of the sales profile and losses associated with slow moving stock.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Plastic Head Music Distribution Limited (Registered number: 02244540)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on reducing balance
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Plastic Head Music Distribution Limited (Registered number: 02244540)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS
31/3/24 31/3/23
£    £   
Wages and salaries 1,855,135 1,939,117
Social security costs 167,168 170,812
Other pension costs 31,995 37,001
2,054,298 2,146,930

The average number of employees during the year was as follows:
31/3/24 31/3/23

Directors 2 2
Administration 9 9
Development 11 11
Distribution 37 40
Marketing 1 2
Sales 6 9
66 73

31/3/24 31/3/23
£    £   
Directors' remuneration 28,146 29,232

4. OPERATING PROFIT

The operating profit is stated after charging:

31/3/24 31/3/23
£    £   
Hire of plant and machinery 31,472 32,490
Other operating leases 248,442 325,965
Depreciation - owned assets 63,385 73,535
Auditors' remuneration 12,300 11,040
Foreign exchange differences 10,058 10,842

5. INTEREST PAYABLE AND SIMILAR EXPENSES
31/3/24 31/3/23
£    £   
Bank interest 8 3,207

Plastic Head Music Distribution Limited (Registered number: 02244540)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31/3/24 31/3/23
£    £   
Current tax:
UK corporation tax 76,590 71,047

Deferred tax 21 (7,956 )
Tax on profit 76,611 63,091

UK corporation tax has been charged at 25% .

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31/3/24 31/3/23
£    £   
Profit before tax 270,989 301,064
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 19%)

67,747

57,202

Effects of:
Expenses not deductible for tax purposes 1,184 575
Depreciation in excess of capital allowances 7,659 13,270
Deferred tax 21 (7,956 )
Total tax charge 76,611 63,091

7. DIVIDENDS
31/3/24 31/3/23
£    £   
Ordinary shares shares of £1 each each
Interim 288,000 288,000

Plastic Head Music Distribution Limited (Registered number: 02244540)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. TANGIBLE FIXED ASSETS
Short Plant and Motor
leasehold machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2023 512,267 1,017,675 30,287 1,560,229
Additions - 31,079 - 31,079
At 31 March 2024 512,267 1,048,754 30,287 1,591,308
DEPRECIATION
At 1 April 2023 358,643 885,825 21,129 1,265,597
Charge for year 30,720 30,829 1,836 63,385
At 31 March 2024 389,363 916,654 22,965 1,328,982
NET BOOK VALUE
At 31 March 2024 122,904 132,100 7,322 262,326
At 31 March 2023 153,624 131,850 9,158 294,632

9. STOCKS
31/3/24 31/3/23
£    £   
Stocks 1,251,224 1,530,391

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 1,632,196 1,701,079
Staff loans 500 100
Rates rebate owed - 41,603
Directors' loan accounts 1,000 -
VAT 39,931 31,148
Prepayments 35,226 29,187
Other debtors 1,796 -
1,710,649 1,803,117

Plastic Head Music Distribution Limited (Registered number: 02244540)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans and overdrafts (see note 12) 12,972 103,901
Trade creditors 3,058,225 3,024,913
Credit card liabilities 11,851 6,504
Tax 76,590 71,048
PAYE & NIC liability 37,696 40,409
Other creditors 6,323 6,326
Directors' loan accounts - 247,581
Accrued expenses 79,993 51,218
3,283,650 3,551,900

12. LOANS

An analysis of the maturity of loans is given below:

31/3/24 31/3/23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 12,972 70,568
CBILs loan - 33,333
12,972 103,901

13. PROVISIONS FOR LIABILITIES
31/3/24 31/3/23
£    £   
Deferred tax
Accelerated capital allowances 32,956 32,935

Deferred
tax
£   
Balance at 1 April 2023 32,935
Provided during year 21
Balance at 31 March 2024 32,956

Plastic Head Music Distribution Limited (Registered number: 02244540)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/24 31/3/23
value: £    £   
2 Ordinary shares £1 each 2 2

15. RESERVES
Retained
earnings
£   

At 1 April 2023 109,936
Profit for the year 194,378
Dividends (288,000 )
At 31 March 2024 16,314

16. RELATED PARTY DISCLOSURES

During the year, total dividends of £288,000 were paid to the directors .

31/3/23 31/3/22
£ £

Transactions with companies under common control
Common director and shareholder

Sales made during the year 1,995,336 944,192
Purchases made during the year 1,691,806 3,163,158
Amount due (to)/from related party 14,197 (627,656 )

PHD Retirement Benefit Scheme
The directors and shareholders of the company are the trustees of the
scheme


Rent paid during the year 78,300 78,300