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REGISTERED NUMBER: 08290185 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

DBS BRISTOL LIMITED

DBS BRISTOL LIMITED (REGISTERED NUMBER: 08290185)

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 6


DBS BRISTOL LIMITED (REGISTERED NUMBER: 08290185)

STATEMENT OF FINANCIAL POSITION
31 JULY 2024

31.7.24 31.7.23
Notes £    £   
FIXED ASSETS
Tangible assets 5 484,652 483,209

CURRENT ASSETS
Debtors 6 2,891,807 2,039,067
Cash at bank and in hand - 158,027
2,891,807 2,197,094
CREDITORS
Amounts falling due within one year 7 (1,361,088 ) (1,094,053 )
NET CURRENT ASSETS 1,530,719 1,103,041
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,015,371

1,586,250

PROVISIONS FOR LIABILITIES (45,460 ) (26,592 )
NET ASSETS 1,969,911 1,559,658

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,969,811 1,559,558
1,969,911 1,559,658

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 Statement of Income and Retained Earnings 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 BRISTOL LIMITED (REGISTERED NUMBER: 08290185)

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


1. STATUTORY INFORMATION

DBS Bristol Limited 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: 08290185

Registered office: 17 St Thomas Street
Bristol
United Kingdom
BS1 6JS

The principal activity of the company is to provide a range of state funded education and vocational training, mainly in the subject areas of music and related creative industries.

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.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

Depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives used by other companies operating in the sector and actual asset lives and residual values, as evidenced by disposals during the current and prior accounting periods.

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 BRISTOL LIMITED (REGISTERED NUMBER: 08290185)

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


2. ACCOUNTING POLICIES - continued

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Property improvements - 10% straight line
Plant and machinery - 20% straight line

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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.


DBS BRISTOL LIMITED (REGISTERED NUMBER: 08290185)

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


2. ACCOUNTING POLICIES - continued
TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

OPERATING LEASES
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

EMPLOYEE BENEFITS POLICY
The company provides a range of benefits to employees.

Short term benefits, including holiday pay, are recognised as an expense in the profit and loss account in the period in which they are incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 45 (2023 - 42 ) .

4. AUDITORS' REMUNERATION
31.7.24 31.7.23
£    £   
Fees payable to the company's auditors for the audit of the
company's financial statements

-

10,484

In the year ended 31 July 2024, auditors' remuneration is borne by the parent company, DBS Music Holdings Limited.

DBS BRISTOL LIMITED (REGISTERED NUMBER: 08290185)

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


5. TANGIBLE FIXED ASSETS
Property Plant and
improvements machinery Totals
£    £    £   
COST
At 1 August 2023 714,562 415,380 1,129,942
Additions 35,722 59,802 95,524
At 31 July 2024 750,284 475,182 1,225,466
DEPRECIATION
At 1 August 2023 340,807 305,926 646,733
Charge for year 56,002 38,079 94,081
At 31 July 2024 396,809 344,005 740,814
NET BOOK VALUE
At 31 July 2024 353,475 131,177 484,652
At 31 July 2023 373,755 109,454 483,209

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 64,042 274,567
Amounts owed by group undertakings 2,672,516 1,631,901
Other debtors 155,249 132,599
2,891,807 2,039,067

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 167,388 -
Trade creditors 112,761 116,293
Amounts owed to group undertakings 1,043,622 936,524
Taxation and social security 26,180 23,970
Other creditors 11,137 17,266
1,361,088 1,094,053

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

DBS BRISTOL LIMITED (REGISTERED NUMBER: 08290185)

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


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.7.24 31.7.23
£    £   
Within one year 8,000 229,346
Between one and five years 64,125 72,125
72,125 301,471

9. 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.

10. 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

11. 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.

12. EVENTS AFTER THE REPORTING PERIOD

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

13. 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.

14. 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.