West of England Music Limited
for the
Period from 8 May 2023 to 31 August 2024
Registration number:
West of England Music Limited
Contents
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Company Information |
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Abridged Balance Sheet |
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Notes to the Unaudited Abridged Financial Statements |
West of England Music Limited
Company Information
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Director |
S R Lock |
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Registered office |
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Accountants |
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West of England Music Limited
(Registration number: 14853645)
Abridged Balance Sheet as at 31 August 2024
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Note |
2024 |
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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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Prepayments and accrued income |
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Creditors: Amounts falling due within one year |
( |
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Net current assets |
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Total assets less current liabilities |
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Accruals and deferred income |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
1 |
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Retained earnings |
319,025 |
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Shareholders' funds |
319,026 |
For the financial period ending 31 August 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. |
All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
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West of England Music Limited
Notes to the Unaudited Abridged Financial Accounts
for the Period from 8 May 2023 to 31 August 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is
These financial statements were authorised for issue by the
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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 accounts are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial accounts have been prepared using the historical cost convention and on a going concern basis.
Revenue recognition
Turnover represents the invoiced value of sales of services.
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:
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Asset class |
Depreciation method and rate |
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Musical instruments |
25% straight line method |
Leases
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.
Defined contribution pension obligation
The company operates a defined contribution pension scheme. A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Defined benefit pension obligation
The company also operates two defined benefit pension schemes; the Local Government Pension Scheme and the Teachers' Pension Scheme.
The Local Government Pension Scheme is a multi-employer scheme where the benefit obligation is calculated annually by independent actuaries using the Projected Unit method of valuation.
The Teachers' Pension Scheme is a national multi-employer defined benefit scheme in the UK. Since it is not possible to identify the share of the underlying assets belonging to the individual participating employer this is accounted for as a defined contribution scheme in accordance with the provisions under FRS 102.
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Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
West of England Music Limited
Notes to the Unaudited Abridged Financial Accounts
for the Period from 8 May 2023 to 31 August 2024
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Tangible assets |
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Musical Instruments |
Total |
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Cost or valuation |
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Additions |
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At 31 August 2024 |
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Depreciation |
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Charge for the period |
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At 31 August 2024 |
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Carrying amount |
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At 31 August 2024 |
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Defined Benefit Pension Scheme |
The company participates in the Local Government Pension Scheme, which is a multi-employer defined benefit scheme in the UK. The pension scheme is funded by contributions from the company and is administered by independent trustees. The most recent actuarial valuation was performed as at 31 August 2024, using the Projected Unit method of valuation.
The amount charged to the profit and loss in respect of the scheme was £65,020 and included in the balance sheet are employer pension contributions paid after the year end of £11,974.
The company participates in the Teachers' Pension scheme, a defined benefit pension scheme which is a multi-employer scheme. It is not possible in the normal course of events to identify the share of the underlying assets belonging to the individual participating employers and, in accordance with FRS 102, this is accounted for as a defined contribution scheme with contributions being recorded as they become payable.
Contributions to this scheme are charged in the profit and loss account as they become payable, in accordance with the rules of the scheme. The total cost relating to this defined benefit schemes for the period recognised in the profit or loss account as an expense was £159,345.
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Share capital |
Allotted, called up and fully paid shares
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2024 |
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No. |
£ |
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1 |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
The total amount of financial commitments not included in the balance sheet concerning pensions is £32,728.
West of England Music Limited
Notes to the Unaudited Abridged Financial Accounts
for the Period from 8 May 2023 to 31 August 2024
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Parent and ultimate parent undertaking |
The company's immediate parent is
The parent of the largest group in which these financial statements are consolidated is
The address of West of England Music and Arts is:
Little Stoke Lane
Little Stoke
Bristol
BS34 6HY
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Related party transactions |
The company's parent, West of England Music and Arts, owed the company £114,346 at the end of the period. The parent received £163,419 in the period and made total repayments of £49,073. No interest has been charged on this loan which is repayable on demand.