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Registration number: NI638784

DootDoot Music Ltd



Filleted Financial Statements

for the Year Ended 31 May 2024

 

DootDoot Music Ltd

trading as Doot Doot Music Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

Detailed Profit and Loss Account

7 to 8

 

DootDoot Music Ltd

trading as Doot Doot Music Ltd

Company Information

Director

John Dynes

Registered office

27 College Gardens
Belfast
Co. Down
BT9 6BS

 

DootDoot Music Ltd

trading as Doot Doot Music Ltd

(Registration number: NI638784)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

168

210

Current assets

 

Debtors

5

254

209

Cash at bank and in hand

 

-

63

 

254

272

Creditors: Amounts falling due within one year

6

(38,442)

(37,988)

Net current liabilities

 

(38,188)

(37,716)

Net liabilities

 

(38,020)

(37,506)

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

(38,120)

(37,606)

Shareholders' deficit

 

(38,020)

(37,506)

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 May 2025
 

.........................................
John Dynes
Director

 

DootDoot Music Ltd

trading as Doot Doot Music Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
27 College Gardens
Belfast
Co. Down
BT9 6BS
Northern Ireland

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

DootDoot Music Ltd

trading as Doot Doot Music Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

 

DootDoot Music Ltd

trading as Doot Doot Music Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

1,001

1,001

At 31 May 2024

1,001

1,001

Depreciation

At 1 June 2023

791

791

Charge for the year

42

42

At 31 May 2024

833

833

Carrying amount

At 31 May 2024

168

168

At 31 May 2023

210

210

5

Debtors

2024
£

2023
£

Trade debtors

254

209

254

209

 

DootDoot Music Ltd

trading as Doot Doot Music Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

37,482

37,508

Accruals and deferred income

 

960

480

 

38,442

37,988

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

37,482

37,508

8

Related party transactions

Transactions with the director

2024

At 1 June 2023
£

Repayments to director
£

At 31 May 2024
£

John Dynes

Director's Loan Account

37,508

(25)

37,482

       
     

 

2023

At 1 June 2022
£

Advances from director
£

At 31 May 2023
£

John Dynes

Director's Loan Account

37,350

157

37,508

       
     

 

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       
 

DootDoot Music Ltd

trading as Doot Doot Music Ltd

Detailed Profit and Loss Account for the Year Ended 31 May 2024

2024
 £

2023
 £

Turnover (analysed below)

178

1,515

Cost of sales (analysed below)

-

(218)

Gross profit

178

1,297

Gross profit (%)

100%

85.61%

Administrative expenses

General administrative expenses (analysed below)

(707)

(1,639)

Finance charges (analysed below)

57

(121)

Depreciation costs (analysed below)

(42)

(53)

(692)

(1,813)

Operating loss

(514)

(516)

Interest payable and similar charges (analysed below)

-

(4)

Loss before tax

(514)

(520)

 

DootDoot Music Ltd

trading as Doot Doot Music Ltd

Detailed Profit and Loss Account for the Year Ended 31 May 2024

2024
 £

2023
 £

Turnover

Sale of goods, UK

178

1,515

Cost of sales

Direct costs

-

218

General administrative expenses

Trade subscriptions

(70)

(120)

Sundry expenses

(126)

(316)

Travel and subsistence

-

(38)

Advertising

(31)

(115)

Accountancy fees

(480)

(1,050)

(707)

(1,639)

Finance charges

Bank charges

57

(121)

Depreciation costs

Depreciation of fixtures and fittings (owned)

(42)

(53)

Operating loss

(514)

(516)

Interest payable and similar charges

Bank interest payable

-

4

Loss before tax

(514)

(520)