Registered number
02766973
Sovereign Lifestyle Music Limited
Filleted Accounts
28 February 2025
Sovereign Lifestyle Music Limited
Registered number: 02766973
Balance Sheet
as at 28 February 2025
Notes 2025 2023
£ £
Current assets
Debtors 4 - 3,236
Cash at bank and in hand 9,611 22,784
9,611 26,020
Creditors: amounts falling due within one year 5 (9,504) (24,445)
Net current assets 107 1,575
Net assets 107 1,575
Capital and reserves
Called up share capital 100 100
Profit and loss account 7 1,475
Shareholders' funds 107 1,575
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
……………………………….
J Lamont
Director
Approved by the board on 26 March 2025
Sovereign Lifestyle Music Limited
Notes to the Accounts
for the period from 1 January 2024 to 28 February 2025
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:
Fixtures, fittings, tools and equipment 25% reducing balance
2 Employees 2025 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 1,967
At 28 February 2025 1,967
Depreciation
At 1 January 2024 1,967
At 28 February 2025 1,967
Net book value
At 28 February 2025 -
4 Debtors 2025 2023
£ £
Trade debtors - 3,236
5 Creditors: amounts falling due within one year 2025 2023
£ £
Trade creditors 6,650 22,245
Taxation and social security costs - 10
Other creditors 2,854 2,190
9,504 24,445
6 Other information
Sovereign Lifestyle Music Limited is a private company limited by shares and incorporated in England. Its registered office is:
36 Waterdell
Leighton Buzzard
Bedfordshire
LU7 3PJ
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