Company Registration No. 08207036 (England and Wales)
FOOTESMUSIC LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
FOOTESMUSIC LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
FOOTESMUSIC LTD
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
797
1,777
Cash at bank and in hand
939
476
1,736
2,253
Creditors: amounts falling due within one year
4
(12,720)
(29,283)
Net current liabilities
(10,984)
(27,030)
Creditors: amounts falling due after more than one year
5
(456,191)
(449,596)
Net liabilities
(467,175)
(476,626)
Capital and reserves
Called up share capital
3,700
3,700
Share premium account
335,600
335,600
Profit and loss reserves
(806,475)
(815,926)
Total equity
(467,175)
(476,626)

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 17 February 2025
Mr R J Wilson
Director
Company registration number 08207036 (England and Wales)
FOOTESMUSIC LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

Footesmusic Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 180 Great Portland Street, London, W1W 5QZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company has ceased to trade and under UK GAAP is not a going concern and cannot use that basis for

accounting. The directors have prepared the financial statements on a break-up basis. All assets are included

at amounts they are expected to realise and liabilities at amounts that the directors expect them to be settled

at. The directors have now agreed and settled the lease commitments with the landlord.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable from the retail and hire of musical instruments, net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

FOOTESMUSIC LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
2
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
797
1,777
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
0
17,520
Other creditors
12,720
11,763
12,720
29,283
5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
9,599
20,004
Other creditors
446,592
429,592
456,191
449,596

 

2024-06-302023-07-01false17 February 2025CCH SoftwareCCH Accounts Production 2024.210No description of principal activityMr R J Wilsonfalsefalse082070362023-07-012024-06-30082070362024-06-30082070362023-06-3008207036core:CurrentFinancialInstrumentscore:WithinOneYear2024-06-3008207036core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3008207036core:Non-currentFinancialInstrumentscore:AfterOneYear2024-06-3008207036core:Non-currentFinancialInstrumentscore:AfterOneYear2023-06-3008207036core:CurrentFinancialInstruments2024-06-3008207036core:CurrentFinancialInstruments2023-06-3008207036core:Non-currentFinancialInstruments2024-06-3008207036core:Non-currentFinancialInstruments2023-06-3008207036core:ShareCapital2024-06-3008207036core:ShareCapital2023-06-3008207036core:SharePremium2024-06-3008207036core:SharePremium2023-06-3008207036core:RetainedEarningsAccumulatedLosses2024-06-3008207036core:RetainedEarningsAccumulatedLosses2023-06-3008207036bus:Director12023-07-012024-06-3008207036core:WithinOneYear2024-06-3008207036core:WithinOneYear2023-06-3008207036bus:PrivateLimitedCompanyLtd2023-07-012024-06-3008207036bus:SmallCompaniesRegimeForAccounts2023-07-012024-06-3008207036bus:FRS1022023-07-012024-06-3008207036bus:AuditExemptWithAccountantsReport2023-07-012024-06-3008207036bus:FullAccounts2023-07-012024-06-30xbrli:purexbrli:sharesiso4217:GBP