Registration number:
DootDoot Music Ltd
for the Year Ended 31 May 2024
DootDoot Music Ltd
trading as Doot Doot Music Ltd
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
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Detailed Profit and Loss Account |
DootDoot Music Ltd
trading as Doot Doot Music Ltd
Company Information
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Director |
John Dynes |
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Registered office |
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DootDoot Music Ltd
trading as Doot Doot Music Ltd
(Registration number: NI638784)
Balance Sheet as at 31 May 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
- |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
(38,120) |
(37,606) |
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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:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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......................................... |
DootDoot Music Ltd
trading as Doot Doot Music Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
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General information |
The company is a private company limited by share capital, incorporated in Northern Ireland.
The address of its registered office is:
Northern Ireland
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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.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
DootDoot Music Ltd
trading as Doot Doot Music Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
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Tangible assets |
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Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 June 2023 |
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At 31 May 2024 |
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Depreciation |
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At 1 June 2023 |
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Charge for the year |
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At 31 May 2024 |
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Carrying amount |
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At 31 May 2024 |
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At 31 May 2023 |
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Debtors |
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2024 |
2023 |
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Trade debtors |
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DootDoot Music Ltd
trading as Doot Doot Music Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
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Creditors |
Creditors: amounts falling due within one year
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Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Accruals and deferred income |
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Loans and borrowings |
Current loans and borrowings
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2024 |
2023 |
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Other borrowings |
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Related party transactions |
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Transactions with the director |
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2024 |
At 1 June 2023 |
Repayments to director |
At 31 May 2024 |
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John Dynes |
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Director's Loan Account |
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( |
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2023 |
At 1 June 2022 |
Advances from director |
At 31 May 2023 |
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John Dynes |
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Director's Loan Account |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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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
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2024 |
2023 |
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Turnover (analysed below) |
178 |
1,515 |
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Cost of sales (analysed below) |
- |
(218) |
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Gross profit |
178 |
1,297 |
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Gross profit (%) |
100% |
85.61% |
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Administrative expenses |
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General administrative expenses (analysed below) |
(707) |
(1,639) |
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Finance charges (analysed below) |
57 |
(121) |
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Depreciation costs (analysed below) |
(42) |
(53) |
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(692) |
(1,813) |
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Operating loss |
(514) |
(516) |
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Interest payable and similar charges (analysed below) |
- |
(4) |
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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
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2024 |
2023 |
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Turnover |
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Sale of goods, UK |
178 |
1,515 |
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Cost of sales |
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Direct costs |
- |
218 |
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General administrative expenses |
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Trade subscriptions |
(70) |
(120) |
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Sundry expenses |
(126) |
(316) |
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Travel and subsistence |
- |
(38) |
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Advertising |
(31) |
(115) |
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Accountancy fees |
(480) |
(1,050) |
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(707) |
(1,639) |
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Finance charges |
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Bank charges |
57 |
(121) |
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Depreciation costs |
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Depreciation of fixtures and fittings (owned) |
(42) |
(53) |
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Operating loss |
(514) |
(516) |
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Interest payable and similar charges |
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Bank interest payable |
- |
4 |
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Loss before tax |
(514) |
(520) |