| SKILBECK MUSIC LIMITED |
| Notes to the Accounts |
| for the year ended 30 April 2025 |
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| 1 |
Accounting policies |
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Basis of preparation |
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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). |
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Turnover |
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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 rendering of services which is recognised by reference to the stage of the completion of the contract. |
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Tangible fixed assets |
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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: |
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Plant and machinery |
over 5 years |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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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. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
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Average number of persons employed by the company |
1 |
|
1 |
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| 3 |
Tangible fixed assets |
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Plant and machinery etc |
| £ |
|
Cost |
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At 1 May 2024 |
36,969 |
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At 30 April 2025 |
36,969 |
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Depreciation |
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At 1 May 2024 |
26,786 |
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Charge for the year |
3,394 |
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At 30 April 2025 |
30,180 |
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Net book value |
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At 30 April 2025 |
6,789 |
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At 30 April 2024 |
10,183 |
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| 4 |
Investments |
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| Other |
| investments |
| £ |
|
Cost |
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At 1 May 2024 |
40,001 |
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At 30 April 2025 |
40,001 |
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| 5 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
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Trade debtors |
- |
|
9,778 |
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| 6 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
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Trade creditors |
2,060 |
|
21,500 |
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Director's Loan Account |
|
(573) |
|
71,586 |
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Taxation and social security costs |
411 |
|
8,486 |
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|
1,898 |
|
101,572 |
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| 7 |
Controlling party |
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The company is owned 100% by director. |
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| 8 |
Other information |
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SKILBECK MUSIC LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
|
112 Riverview Gardens |
|
London |
|
SW13 8RA |