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REGISTERED NUMBER: 06747770 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2023

for

D M Music Limited

D M Music Limited (Registered number: 06747770)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


D M Music Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: I C Harvey-Smith
J Miles
G J Bennewith





SECRETARY: J Miles





REGISTERED OFFICE: Unit 4 Riverside Industrial Estate
Coldharbour Lane
Harpenden
Hertfordshire
AL5 4UN





REGISTERED NUMBER: 06747770 (England and Wales)





ACCOUNTANTS: Bennewith 2018 Limited
t/a A J Bennewith & Co
Upper Ground Floor
18 Farnham Road
Guildford
Surrey
GU1 4XA

D M Music Limited (Registered number: 06747770)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 70,693 15,351
70,693 15,351

CURRENT ASSETS
Stocks 134,263 231,282
Debtors 6 40,445 37,945
Cash at bank and in hand 50,902 21,798
225,610 291,025
CREDITORS
Amounts falling due within one year 7 206,861 269,433
NET CURRENT ASSETS 18,749 21,592
TOTAL ASSETS LESS CURRENT LIABILITIES 89,442 36,943

CREDITORS
Amounts falling due after more than one year 8 (36,328 ) (5,543 )

PROVISIONS FOR LIABILITIES (17,673 ) -
NET ASSETS 35,441 31,400

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 35,438 31,397
SHAREHOLDERS' FUNDS 35,441 31,400

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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 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.

D M Music Limited (Registered number: 06747770)

Balance Sheet - continued
31 December 2023


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 18 March 2025 and were signed on its behalf by:





G J Bennewith - Director


D M Music Limited (Registered number: 06747770)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 25% on reducing balance
Motor vehicles - 25% 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 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.


D M Music Limited (Registered number: 06747770)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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 11 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 284,400
AMORTISATION
At 1 January 2023
and 31 December 2023 284,400
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

D M Music Limited (Registered number: 06747770)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Motor
Equipment vehicles Totals
£    £    £   
COST
At 1 January 2023 21,865 50,559 72,424
Additions - 69,975 69,975
Disposals - (13,978 ) (13,978 )
At 31 December 2023 21,865 106,556 128,421
DEPRECIATION
At 1 January 2023 21,122 35,951 57,073
Charge for year 186 13,660 13,846
Eliminated on disposal - (13,191 ) (13,191 )
At 31 December 2023 21,308 36,420 57,728
NET BOOK VALUE
At 31 December 2023 557 70,136 70,693
At 31 December 2022 743 14,608 15,351

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 28,534 10,303
Other debtors 3,309 27,642
Prepayments 8,602 -
40,445 37,945

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 19,724 5,116
Trade creditors 47,315 22,964
Tax 10,960 20,781
Social security and other taxes - 574
VAT 25,120 23,427
Other creditors - 1,023
Deferred income 92,359 185,665
Accrued expenses 11,383 9,883
206,861 269,433

D M Music Limited (Registered number: 06747770)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 36,328 5,543

9. RELATED PARTY DISCLOSURES

Directors' remuneration, including a benefit in kind, amounted to £31,576 (2022: £28,985) during the year.

During the year, total dividends of £105,000 (2022: £93,000) were paid to the directors.