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Registered number: 08089989
Forwoods Music Limited
Unaudited Financial Statements
For The Year Ended 30 June 2025
Beresfords
Chartered Certified Accountants
1-2 Rhodium Point
Spindle Close
Hawkinge, Folkestone
Kent
CT18 7TQ
Forwoods Music Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—7

Page 1
Forwoods Music Limited
Balance Sheet
As At 30 June 2025
Balance Sheet
Registered number: 08089989

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 6 |  | 13,056 |  | 6,359
|  |  | 13,056 |  | 6,359
CURRENT ASSETS
Stocks | 7 | 128,573 |  | 125,141 |
Debtors | 8 | 29,541 |  | 27,186 |
Cash at bank and in hand |  | 118 |  | 298 |
|  | 158,232 |  | 152,625 |
Creditors: Amounts Falling Due Within One Year | 9 | (131,873 ) |  | (115,099 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 26,359 |  | 37,526
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 39,415 |  | 43,885
Creditors: Amounts Falling Due After More Than One Year | 10 |  | - |  | (9,892 )
PROVISIONS FOR LIABILITIES
Deferred Taxation |  |  | (3,240 ) |  | (1,192 )
NET ASSETS |  |  | 36,175 |  | 32,801
CAPITAL AND RESERVES
Called up share capital | 12 |  | 2 |  | 2
Profit and Loss Account |  |  | 36,173 |  | 32,799
SHAREHOLDERS' FUNDS |  |  | 36,175 |  | 32,801

Page 1
Page 2
Forwoods Music Limited
Balance Sheet (continued)
As At 30 June 2025
For the year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board

Mr S Yarrow Director
28/10/2025

The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Forwoods Music Limited
Notes to the Financial Statements
For The Year Ended 30 June 2025
Notes to the Financial Statements
1. General Information
Forwoods Music Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08089989 . The registered office is St Radigunds Abbey Farm, Abbey Road, Dover, Kent, CT15 7DL.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.
2. Statement of Compliance
The financial statements have been prepared in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
3. Accounting Policies
3.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention.
3.2. Going Concern Disclosure
The financial statements are prepared on a going concern basis and there are no material uncertainties that cast significant doubt on the Company’s ability to continue as a going concern.
3.3. Significant judgements and estimations
Judgements
No judgements have been made in the process of applying the accounting policies that have had a significant effect on the amounts recognised in the financial statements.
No key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year have been made.
3.4. Turnover
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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
3.5. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill arising on the acquistion of an entity represents the excess of the cost of acquisition over the company's interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquitision. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life.
Armortisation
Amortisation is provdied on intangible assets so as to write off the cost of assets, less any estimated residual value, over their useful life, as follows

Asset Class | Amortisation method and rate
Goodwill | 10%/33.3% straight line

Page 3
Page 4
Forwoods Music Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 June 2025
3.6. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings | 10% reducing balance
Office Equipment | 25% reducing balance

3.7. Leasing and Hire Purchase Contracts
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Assets obtained under hire purchase contracts are capitilaised as tangible fixed assets and are depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods and the finance element is charged to profit and loss account.
3.8. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
3.9. Cash and Cash Equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
3.10. Interest Receivable
Interest income is recognised in the profit and loss account using the effective interest method.
3.11. Interest Payable
Finance costs are charged to the profit and loss account over the term of the debt using the effective method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
3.12. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 4
Page 5
Forwoods Music Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 June 2025
3.12. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3.13. Provisions and Contingencies
Provisions
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.
Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.
Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as a finance cost.
3.14. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3.15. Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.
4. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2024: 3)
3 3
5. Intangible Assets

| Goodwill
--- | ---
| £
Cost
As at 1 July 2024 | 235,000
As at 30 June 2025 | 235,000
Amortisation
As at 1 July 2024 | 235,000
As at 30 June 2025 | 235,000
Net Book Value
As at 30 June 2025 | -
As at 1 July 2024 | -

Page 5
Page 6
Forwoods Music Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 June 2025
6. Tangible Assets

| Fixtures & Fittings | Office Equipment | Total
--- | --- | --- | ---
| £ | £ | £
Cost
As at 1 July 2024 | 2,468 | 11,315 | 13,783
Additions | - | 10,853 | 10,853
As at 30 June 2025 | 2,468 | 22,168 | 24,636
Depreciation
As at 1 July 2024 | 1,428 | 5,996 | 7,424
Provided during the period | 104 | 4,052 | 4,156
As at 30 June 2025 | 1,532 | 10,048 | 11,580
Net Book Value
As at 30 June 2025 | 936 | 12,120 | 13,056
As at 1 July 2024 | 1,040 | 5,319 | 6,359

7. Stocks

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Goods for resale | 128,573 |  | 125,141

8. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 24,218 |  | 22,804
Prepayments and accrued income | 2,942 |  | 1,186
VAT | 2,381 |  | 3,196
| 29,541 |  | 27,186

9. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Trade creditors | 54,562 |  | 54,384
Bank loans and overdrafts | 32,755 |  | 32,402
Corporation tax | 7,031 |  | 8,800
Other taxes and social security - PAYE | 4,159 |  | 1,961
Company credit card | 1,495 |  | -
Pension creditor payable | 236 |  | 204
Accruals and deferred income | 3,200 |  | 2,980
Directors' loan accounts | 28,435 |  | 14,368
| 131,873 |  | 115,099

The company received unsecured loan under the UK Government Bounce Back Scheme which has the financial bacling of the Secretary of State for Business Energy and Industrial Strategy.
The carrying amount of Bounce Back Loan at year end is £9,628 (2024- £19,892).
The BBLS loan is recognised at its present value.
Page 6
Page 7
Forwoods Music Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 June 2025
10. Creditors: Amounts Falling Due After More Than One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Bank loans | - |  | 9,892

11. Loans
An analysis of the maturity of loans is given below:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Amounts falling due within one year or on demand:
Bank loans | 9,628 |  | 10,000

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Amounts falling due between one and five years:
Bank loans | - |  | 9,892

12. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 2 |  | 2

13. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held sparately from those of the company in an independently administered fund.
During the year the charge to the profit and loss account in respect of defined contribution schemes was £1,119 (2024: £923).
At the balance sheet date contributions of £236 (2024: £204) were due to the fund and are included in creditors.
Page 7