ACCOUNTS - Final Accounts preparation

Registered number: 15475680

DISTRACTION RECORDINGS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 28 FEBRUARY 2025

DISTRACTION RECORDINGS LIMITED

REGISTERED NUMBER: 15475680

BALANCE SHEET

AS AT 28 FEBRUARY 2025

		2025
Note		£


Current assets
Debtors: amounts falling due within one year	4	26,434
Cash at bank and in hand	5	19,766
		46,200
Creditors: amounts falling due within one year	6	(21,220)
Net current assets			24,980
Total assets less current liabilities			24,980

Net assets			24,980

Capital and reserves
Called up share capital			100
Profit and loss account			24,880
			24,980

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr I Watt

Director

Date: 5 October 2025

The notes on pages 3 to 5 form part of these financial statements.

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DISTRACTION RECORDINGS LIMITED

REGISTERED NUMBER: 15475680

BALANCE SHEET (CONTINUED)

AS AT 28 FEBRUARY 2025

Page 2

DISTRACTION RECORDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 FEBRUARY 2025

1.	General information

Distraction Recordings Limited is a private company limited by share capital, incorporated in England and Wales, registration number 15475680. The address of the registered office is 50 Liverpool Street, London, EC2M 7PY.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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DISTRACTION RECORDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)

2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the period was 1.

Debtors

					2025
					£


	Trade debtors	25,000
	Other debtors	1,434
		26,434

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DISTRACTION RECORDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 FEBRUARY 2025

5.	Cash and cash equivalents
		2025
		£

	Cash at bank and in hand	19,766
		19,766

6.	Creditors: Amounts falling due within one year
		2025
		£

	Trade creditors	235
	Corporation tax	6,279
	Other creditors	13,206
	Accruals and deferred income	1,500
		21,220

7.	Related party transactions
	Included in other creditors at the balance sheet date is an amount of £13,206 due to a company owned by the director. The amount is in respect of expenses borne on behalf of the company. This amount is unsecured, interest free and repayable on demand.

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