IRIS Accounts Production v24.3.2.46 13609079 Board of Directors 1.8.23 31.7.24 31.7.24 16.4.25 0 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh136090792023-07-31136090792024-07-31136090792023-08-012024-07-31136090792022-07-31136090792022-08-012023-07-31136090792023-07-3113609079ns15:EnglandWales2023-08-012024-07-3113609079ns14:PoundSterling2023-08-012024-07-3113609079ns10:Director12023-08-012024-07-3113609079ns10:PrivateLimitedCompanyLtd2023-08-012024-07-3113609079ns10:SmallEntities2023-08-012024-07-3113609079ns10:Audited2023-08-012024-07-3113609079ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-3113609079ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-3113609079ns10:FullAccounts2023-08-012024-07-3113609079ns10:EntityHasNeverTraded2023-08-012024-07-3113609079ns5:CurrentFinancialInstruments2024-07-3113609079ns5:CurrentFinancialInstruments2023-07-3113609079ns5:ShareCapital2024-07-3113609079ns5:ShareCapital2023-07-3113609079ns5:RetainedEarningsAccumulatedLosses2024-07-3113609079ns5:RetainedEarningsAccumulatedLosses2023-07-3113609079ns10:RegisteredOffice2023-08-012024-07-3113609079ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-07-3113609079ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-07-3113609079ns5:CurrentFinancialInstruments2023-08-012024-07-311360907912023-08-012024-07-31
REGISTERED NUMBER: 13609079 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

DBS (FALMOUTH) LTD

DBS (FALMOUTH) LTD (REGISTERED NUMBER: 13609079)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Statement of Financial Position 1

Notes to the Financial Statements 2 to 5


DBS (FALMOUTH) LTD (REGISTERED NUMBER: 13609079)

STATEMENT OF FINANCIAL POSITION
31 JULY 2024

31.7.24 31.7.23
Notes £    £   
CURRENT ASSETS
Debtors 4 3,326,770 1,668,554
Cash at bank 140,982 40,912
3,467,752 1,709,466
CREDITORS
Amounts falling due within one year 5 (2,980,098 ) (1,662,598 )
NET CURRENT ASSETS 487,654 46,868
TOTAL ASSETS LESS CURRENT
LIABILITIES

487,654

46,868

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 487,653 46,867
487,654 46,868

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 14 April 2025 and were signed on its behalf by:





J W Beaumont - Director


DBS (FALMOUTH) LTD (REGISTERED NUMBER: 13609079)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. STATUTORY INFORMATION

DBS (Falmouth) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 13609079

Registered office: 6 Elizabeth Court
Higher Lane
Plymouth
Devon
PL1 2AN

The principal activity of the company is that of other education.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

GOING CONCERN
The financial statements have been prepared on the going concern basis which assumes that the company will continue to trade for the foreseeable future, and continue to receive the support from the fellow group companies.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There are no key judgements or key sources of estimation uncertainty.

REVENUE RECOGNITION
Turnover comprises the fair value of the consideration received or receivable for the sale of music educations services to customers in the ordinary course of the company's activities. Turnover is shown net of valued added tax, rebates and discounts.

Revenue is recognised as the course is delivered.

DBS (FALMOUTH) LTD (REGISTERED NUMBER: 13609079)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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 statement of financial position date.


DBS (FALMOUTH) LTD (REGISTERED NUMBER: 13609079)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


2. ACCOUNTING POLICIES - continued
DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 3 ).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 1,921 -
Amounts owed by group undertakings 3,237,367 1,581,094
Prepayments and accrued income 87,482 87,460
3,326,770 1,668,554

Amounts owed by group undertakings are interest free, unsecured and repayable on demand.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 2,877 -
Amounts owed to group undertakings 2,977,128 1,662,598
VAT 93 -
2,980,098 1,662,598

Amounts owed to group undertakings are interest free, unsecured and repayable on demand.

6. SECURED DEBTS

Fixed and floating charges exist dated 28 June 2022 over all the property or undertaking of the company. This charge is with Santander UK PLC.

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michelle Coates (Senior Statutory Auditor)
for and on behalf of Sumer Auditco Limited

DBS (FALMOUTH) LTD (REGISTERED NUMBER: 13609079)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9. POST BALANCE SHEET EVENTS

There were no material events up to the date of approval of the financial statements by the board.

10. ULTIMATE CONTROLLING PARTY

The parent company is DBS Music Holdings, a company incorporated in England and Wales. The results of this company are consolidated in to the group accounts of Project Alpha Topco Limited.

The ultimate parent company is Project Alpha Topco Limited a company registered in England. The registered office of the company is C/O DPC, Stone House, 55 Stone Road Business Park, Stoke-on-Trent, Staffordshire, ST4 6SR.

11. GOING CONCERN

The accounts have been prepared on the going concern basis which assumes that the company will continue to trade for the foreseeable future, and continue to receive support from the fellow group companies.