OBSCENIC LTD.

Company Registration Number:
08448215 (England and Wales)

Unaudited statutory accounts for the year ended 30 March 2024

Period of accounts

Start date: 01 April 2023

End date: 30 March 2024

OBSCENIC LTD.

Contents of the Financial Statements

for the Period Ended 30 March 2024

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 9

OBSCENIC LTD.

Company Information

for the Period Ended 30 March 2024




Registered office: 3
Wellesley Road
Liverpool
England
L8 3SU
Company Registration Number: 08448215 (England and Wales)

OBSCENIC LTD.

Balance sheet

As at 30 March 2024


Notes

2024
£

2023
£
Fixed assets
Tangible assets: 4 73,137 78,494
Total fixed assets: 73,137 78,494
Current assets
Debtors: 5 3,135
Total current assets: 3,135
Creditors: amounts falling due within one year: 6 ( 56,312 ) ( 65,706 )
Net current assets (liabilities): ( 56,312 ) ( 62,571 )
Total assets less current liabilities: 16,825 15,923
Total net assets (liabilities): 16,825 15,923

The notes form part of these financial statements

OBSCENIC LTD.

Balance sheet continued

As at 30 March 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 12 12
Profit and loss account: 16,813 15,911
Shareholders funds: 16,825 15,923

For the year ending 30 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

This report was approved by the board of directors on 23 March 2025
And Signed On Behalf Of The Board By:

Name: J Wills
Status: Director

The notes form part of these financial statements

OBSCENIC LTD.

Notes to the Financial Statements

for the Period Ended 30 March 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover comprises revenue recognised by the company in respect of music production and royalty income, exclusive of Value Added Tax and trade discounts.

    Tangible fixed assets depreciation policy


    Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.


    Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
    Depreciation is provided on the following basis:

    Leasehold improvements - 25% straight line
    Studio equipment - 15% reducing balance
    Studio fittings, accessories and cabling - 20% reducing balance
    Computer equipment - 20% reducing balance
    2nd hand instruments and audio gear - 5% reducing balance

    The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
    Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

    Other accounting policies

    2.2 Going concern The Director is confident the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore has prepared the financial statements on a going concern basis. 2.4 Taxation Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. 2.6 Debtors Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. 2.7 Creditors Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. 2.8 Dividends Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

OBSCENIC LTD.

Notes to the Financial Statements

for the Period Ended 30 March 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 0 0

OBSCENIC LTD.

Notes to the Financial Statements

for the Period Ended 30 March 2024

  • 3. Off balance sheet disclosure

    No

OBSCENIC LTD.

Notes to the Financial Statements

for the Period Ended 30 March 2024

4. Tangible assets

Plant & machinery Total
Cost £ £
At 01 April 2023 206,275 206,275
Additions 4,109 4,109
Disposals - -
Revaluations - -
Transfers - -
At 30 March 2024 210,384 210,384
Depreciation
At 01 April 2023 127,781 127,781
Charge for year 9,466 9,466
On disposals - -
Other adjustments - -
At 30 March 2024 137,247 137,247
Net book value
At 30 March 2024 73,137 73,137
At 31 March 2023 78,494 78,494

OBSCENIC LTD.

Notes to the Financial Statements

for the Period Ended 30 March 2024

5. Debtors


2024
£

2023
£
Other debtors 3,135
Total 3,135

OBSCENIC LTD.

Notes to the Financial Statements

for the Period Ended 30 March 2024

6.Creditors: amounts falling due within one year note


2024
£

2023
£
Bank loans and overdrafts 5,756 2,231
Other creditors 50,556 63,475
Total 56,312 65,706

OBSCENIC LTD.

Notes to the Financial Statements

for the Period Ended 30 March 2024

7.1.Related party disclosures

Name of related party: J Wills
Description of relationship:
Director
Description of the transaction:
Included in creditors due within one year is a balance due to J Wills, the director, of £50,556 (2023: £59,475). This amount is unsecured, interest free and repayable on demand. During the year a dividend of £1,000 (2023: £4,000) was paid to the director.
Balance at 01 April 2023 63,475
Balance at 30 March 2024 50,556