Company Registration No. 11083863 (England and Wales)
Spiteri Music Limited
Unaudited accounts
for the year ended 30 November 2024
Spiteri Music Limited
Unaudited accounts
Contents
Spiteri Music Limited
Company Information
for the year ended 30 November 2024
Company Number
11083863 (England and Wales)
Registered Office
19 Coniston Road
Southampton
SO16 9BU
England
Accountants
365 Accounts Ltd
44 Brookwood Road
Southampton
Hampshire
SO16 9AJ
Spiteri Music Limited
Statement of financial position
as at 30 November 2024
Intangible assets
4,400
5,500
Tangible assets
11,585
13,629
Cash at bank and in hand
(105)
26
Creditors: amounts falling due within one year
(19,537)
(32,338)
Net current liabilities
(19,142)
(19,112)
Total assets less current liabilities
(3,157)
17
Creditors: amounts falling due after more than one year
(15,150)
-
Net (liabilities)/assets
(18,307)
17
Called up share capital
1
1
Profit and loss account
(18,308)
16
Shareholders' funds
(18,307)
17
For the year ending 30 November 2024 the company was entitled to exemption from audit 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 May 2025 and were signed on its behalf by
Ronnie Spiteri
Director
Company Registration No. 11083863
Spiteri Music Limited
Notes to the Accounts
for the year ended 30 November 2024
Spiteri Music Limited is a private company, limited by shares, registered in England and Wales, registration number 11083863. The registered office is 19 Coniston Road, , Southampton, SO16 9BU, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and rebates. Turnover from the rendering of services is recognized 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
15% Reducing Balance Method
Intangible fixed assets (including goodwill and patents) are included at cost less accumulated amortisation.
Intangibles are amortised over their usefull life of 10 years on a straight line basis.
At the balance sheet date the companies liabilities exceeded it's assets and it's ability to trade is dependent on the financial support of the current directors and shareholders. Such financial support will continue to be made and these accounts have been prepared on the basis that the company will continue to trade normally.
Spiteri Music Limited
Notes to the Accounts
for the year ended 30 November 2024
4
Intangible fixed assets
Goodwill
At 30 November 2024
11,000
5
Tangible fixed assets
Computer equipment
At 30 November 2024
26,499
At 30 November 2024
14,914
At 30 November 2024
11,585
At 30 November 2023
13,629
Amounts falling due within one year
Accrued income and prepayments
-
1,050
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
4,652
20,298
Taxes and social security
5,900
5,756
Loans from directors
7,765
4,984
Spiteri Music Limited
Notes to the Accounts
for the year ended 30 November 2024
8
Creditors: amounts falling due after more than one year
2024
2023
During the year the company maintained a loan account with its director Mr. Ronnie Spiteri . As at the year end date the
company owed its director Mr. Ronnie Spiteri £7,765 (2023 - £4,984).
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).