Registered number
08568420
Ed Thomas Music Limited
Filleted Accounts
30 June 2024
Ed Thomas Music Limited
Registered number: 08568420
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 36,323 30,148
Current assets
Debtors 4 3,300 -
Cash at bank and in hand 84,078 83,568
87,378 83,568
Creditors: amounts falling due within one year 5 (45,109) (11,379)
Net current assets 42,269 72,189
Total assets less current liabilities 78,592 102,337
Creditors: amounts falling due after more than one year 6 (46,519) (93,039)
Net assets 32,073 9,298
Capital and reserves
Called up share capital 2 2
Profit and loss account 32,071 9,296
Shareholder's funds 32,073 9,298
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
E Thomas
Director
Approved by the board on 12 March 2025
Ed Thomas Music Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery and motor vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 35,886 31,065 66,951
Additions 1,068 30,950 32,018
Disposals - (31,065) (31,065)
At 30 June 2024 36,954 30,950 67,904
Depreciation
At 1 July 2023 19,474 17,329 36,803
Charge for the year 4,369 7,738 12,107
On disposals - (17,329) (17,329)
At 30 June 2024 23,843 7,738 31,581
Net book value
At 30 June 2024 13,111 23,212 36,323
At 30 June 2023 16,412 13,736 30,148
4 Debtors 2024 2023
£ £
Trade debtors 3,300 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 36,142 11,379
Other creditors 8,967 -
45,109 11,379
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 46,519 93,039
7 Other information
Ed Thomas Music Limited is a private company limited by shares and incorporated in England. Its registered office is:
Office 10, 76 Lincoln Road, High Wycombe HP12 3RH
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