iso4217:GBP
xbrli:pure
xbrli:shares
iso4217:GBP
xbrli:shares
08119922
2024-10-31
08119922
2025-07-29
08119922
2023-11-01
2024-10-31
08119922
2025-07-29
2025-07-29
08119922
bus:Director1
2023-11-01
2024-10-31
08119922
bus:SmallEntities
2023-11-01
2024-10-31
08119922
bus:AuditExempt-NoAccountantsReport
2023-11-01
2024-10-31
08119922
bus:FilletedAccounts
2023-11-01
2024-10-31
08119922
bus:Director1
2023-11-01
2024-10-31
08119922
2023-11-01
2024-10-31
08119922
bus:PrivateLimitedCompanyLtd
2023-11-01
2024-10-31
Registration Number 08119922 (England and Wales)
Filleted Unaudited Financial Statements
for the year ended 31 October 2024
Financial Statements for the year ended 31 October 2024
STATEMENT OF FINANCIAL POSITION
Investments
2
129,685
129,685
Cash at bank and in hand
1,856
3,393
Creditors: amounts falling due within one year
4
221,679
215,897
Net current liabilities
(219,823)
(209,546)
Total assets less current liabilities
90,138
79,861
Net liabilities
90,138
79,861
Called up share capital
6
130,100
130,100
Profit and loss account
(220,238)
(209,961)
Shareholder's deficit
(90,138)
(79,861)
For the year ended 31 October 2024, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit of its accounts for the year ended 31 October 2024 in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibilities for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the Board of Directors on 29 July 2025 by:
Company registration number: 08119922
Financial Statements for the year ended 31 October 2024
NOTES TO THE FINANCIAL STATEMENTS
1.
Summary of significant accounting policies
General information and basis of preparation
Thumbscrew Music Limited is a private company limited by shares, registered in England and Wales. The address of the registered office and registration number are as below:
The financial statements has been prepared on the historical cost basis.
The financial statements are prepared in sterling (£) which is the functional currency of the company and rounded to the nearest £.
The financial statements have been prepared on a going concern basis. The directors have assessed the Company's ability to continue as a going concern and have reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Director has assessed the company's ability to continue as a going concern and is satisfied that it remains appropriate to prepare the financial statements on a going concern basis.
At the year end, the company has net current liabilities of 2024: £216,976 (2023: £209,546). Included in other creditors is a director's loan of 2024: £214,247 (2023: £214,247), and the director is not
seeking immediate repayment of these funds, and will continue to support the company as required.On these grounds, the director considers that the company remains a going concern.
1.1
Tangible fixed assets
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial Statements for the year ended 31 October 2024
NOTES TO THE FINANCIAL STATEMENTS
1.2
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial assets, which include trade and other debtors and cash, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Basic financial liabilities, which include trade and other creditors, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
At each reporting date the company assesses whether there is objective evidence that any financial asset has been impaired. A provision for impairment is established when there is objective evidence
that the company will not be able to collect all amounts due. The amount of the provision is recognised immediately in profit or loss.
Impairment of financial assets
At the end of each reporting period, the company assesses whether there is evidence of impairment of any financial assets, including investments, loans, trade debtors and cash. If there is evidence of impairment, impairment losses are recognised in the Profit and Loss account in that financial year.
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Financial Statements for the year ended 31 October 2024
NOTES TO THE FINANCIAL STATEMENTS
Other investments other than loans
£
At 01 November 2023
230,185
At 31 October 2024
230,185
At 01 November 2023
(100,500)
At 31 October 2024
(100,500)
At 31 October 2023
129,685
At 31 October 2024
129,685
4.
Creditors: amounts falling due within one year
Creditors: amounts falling due within one year comprise:
Other creditors
221,679
215,897
The company has an unrecognised deferred tax asset of £27,848 (2023: £25,991) which has arisen from fixed asset timing differences and losses carried forward. Its recoverability is dependent upon future capital taxable profits arising, the likelihood of which cannot at this stage be determined with reasonable certainty.
Financial Statements for the year ended 31 October 2024
NOTES TO THE FINANCIAL STATEMENTS
6.
Called up share capital
Issued, called up and fully paid
2024
Number
2023
Number
Ordinary shares of £1 each
130,100
130,100
Appendix - Additional XBRL Tags and Values
Accounting standards applied
Accounts status, audited or unaudited
Average number of employees during the period
Average number of employees during the period
Date of authorisation of financial statements for issue
Director signing Directors' Report
Director signing financial statements
End date for period covered by report
Entity current legal or registered name
Entity is dormant [true/false]
Name of individual auditor
Name of production software
Start date for period covered by report
UK Companies House registered number
Trade debtors / trade receivables