Registered number |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2024 | 2023 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 5 | ||||||
Current assets | |||||||
Stocks | |||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 7 | ( |
( |
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Net current liabilities | ( |
( |
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Total assets less current liabilities | ( |
( |
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Creditors: amounts falling due after more than one year | 8 | ( |
( |
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Provisions for liabilities | 5 | ( |
( |
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Net liabilities | ( |
( |
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Capital and reserves | |||||||
Called up share capital | |||||||
Profit and loss account | ( |
( |
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Shareholder's funds | ( |
( |
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Colin Gate | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
2 | Government Grants | |||||||
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognised criteria, they are recognised as a liability. |
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Turnover | ||||||||
Intangible fixed assets | ||||||||
Tangible fixed assets | ||||||||
Freehold buildings | over 50 years | |||||||
Leasehold land and buildings | over the lease term | |||||||
Plant and machinery | over 5 years | |||||||
Fixtures, fittings, tools and equipment | over 5 years | |||||||
Stocks | ||||||||
Creditors | ||||||||
Taxation | ||||||||
Foreign currency translation | ||||||||
3 | Employees | 2024 | 2023 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
4 | Intangible fixed assets | £ | ||||||
Goodwill: | ||||||||
Cost | ||||||||
At 1 October 2023 | ||||||||
At 30 September 2024 | ||||||||
Amortisation | ||||||||
At 1 October 2023 | ||||||||
At 30 September 2024 | ||||||||
Net book value | ||||||||
At 30 September 2024 | - | |||||||
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years. | ||||||||
5 | Tangible fixed assets | |||||||
Plant and machinery etc | ||||||||
£ | ||||||||
Cost | ||||||||
At 1 October 2023 | ||||||||
At 30 September 2024 | ||||||||
Depreciation | ||||||||
At 1 October 2023 | ||||||||
Charge for the year | ||||||||
At 30 September 2024 | ||||||||
Net book value | ||||||||
At 30 September 2024 | ||||||||
At 30 September 2023 | ||||||||
6 | Deferred Tax | 2024 | 2023 | |||||
£ | £ | |||||||
B/fwd | 229 | 343 | ||||||
Charged to profit and loss | (115) | (114) | ||||||
Charged to other comprehensive income | - | - | ||||||
114 | 229 | |||||||
7 | Creditors: amounts falling due within one year | 2024 | 2023 | |||||
£ | £ | |||||||
Bank loans and overdrafts | ||||||||
Other creditors | ||||||||
7 | Directors loan account | |||||||
Included in other creditors is the sum of £ 48373 (£49801 - 2023) | ||||||||
for the directors loan account which is repayable upon demand. | ||||||||
8 | Creditors: amounts falling due after one year | 2024 | 2023 | |||||
£ | £ | |||||||
Bank loans | ||||||||
9 | Bounceback Loan | |||||||
Effective interest rate 2.5% Year......Bal b/f..............Interest...............Cashflow.............Bal c/f .................£.......................£..........................£..........................£ ---------------------------------------------------------------------------------------------- ....1........2000......................................................................2000 ....2........2000.....................50.00.................-400.............1600 ....3........1600.....................40.00.................-400.............1200 ....4........1200.....................30.00.................-400.............800 ....5........800.......................20.00.................-400.............400 ....6........400.......................10.00.................-400 ...........................................150.00..............-2000............................ Interest 12 months 50.00 account for 2 months as Gov paid Interest till Sept 2021 £ 8.33 interest in Accounts period 1 and £ 41.67 in Accounts period 2. |
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10 | Other information | |||||||
DEFUNKT RECORDS LIMITED is a private company limited by shares and incorporated in Scotland. Its registered office is: | ||||||||
F/1 | ||||||||
70 Miller Street | ||||||||
GLASGOW | ||||||||
G1 1DT |