Registered number
05688024
Britannia Music Shop Limited
Filleted Accounts
30 November 2024
Britannia Music Shop Limited
Registered number: 05688024
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 222 295
Current assets
Stocks 30,000 30,000
Main Bank Account 920 114
Sole Hire Account 42 8
LTD Hire Account 3 -
30,965 30,122
Creditors: amounts falling due within one year 4 (4,624) (2,684)
Net current assets 26,341 27,438
Net assets 26,563 27,733
Capital and reserves
Called up share capital 2 2
Profit and loss account 26,561 27,731
Shareholder's funds 26,563 27,733
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Margaret Beauchamp
Director
Approved by the board on 6 June 2025
Britannia Music Shop Limited
Notes to the Accounts
for the year ended 30 November 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and Machinery 25% reducing balance
Motor Vehicle 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2023 305 1,170 1,475
At 30 November 2024 305 1,170 1,475
Depreciation
At 1 December 2023 76 1,104 1,180
Charge for the year 57 16 73
At 30 November 2024 133 1,120 1,253
Net book value
At 30 November 2024 172 50 222
At 30 November 2023 229 66 295
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 2,440 1,628
Director's loan account 91 83
Other creditors 2,093 973
4,624 2,684
5 Related party transactions
During the year the company paid Thomas Beauchamp a salary of £6,000 (2023: £7,120) and dividends of £11,500 (2023: £5,200). At the year end the company owed Thomas Beauchamp £91 (2023: £83).
6 Controlling party
The company is controlled by Thomas Beauchamp, sole director and shareholder.
7 Other information
Britannia Music Shop Limited is a private company limited by shares and incorporated in England. Its registered office is:
Office 156
17 Holywell Hill
St Albans
Hertfordshire
AL1 1DT
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