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Registered number: 06468971
Matt Dunkley Music Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Garrett Adam Accountants Limited
ACCA
3 Johnsons Barns
Waterworks Road
Petersfield
Hampshire
GU32 2BY
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06468971
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 6,041 6,799
6,041 6,799
CURRENT ASSETS
Debtors 6 255,863 289,173
Cash at bank and in hand 9,256 9,869
265,119 299,042
Creditors: Amounts Falling Due Within One Year 7 (139,659 ) (114,873 )
NET CURRENT ASSETS (LIABILITIES) 125,460 184,169
TOTAL ASSETS LESS CURRENT LIABILITIES 131,501 190,968
Creditors: Amounts Falling Due After More Than One Year 8 (2,539 ) (12,500 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,477 ) (1,291 )
NET ASSETS 127,485 177,177
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 127,385 177,077
SHAREHOLDERS' FUNDS 127,485 177,177
Page 1
Page 2
For the year ending 31 March 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 M Dunkley
Director
26/11/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Matt Dunkley Music Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06468971 . The registered office is Little Waggoners, Tankerdale, Lane, Liss, Hampshire, GU33 7QY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and 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.
2.2. 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 rendering of services and royalty income. Turnover is reduced for estimated rebates and other similar allowances.
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.
Royalty income
Royalty income is recognised to the period to which it relates or if cannot be reliably estimated, on a receipts basis.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of ten years.
2.4. 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:
Plant & Machinery 25% straight line basis
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. 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.
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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 39,339
As at 31 March 2025 39,339
Amortisation
As at 1 April 2024 39,339
As at 31 March 2025 39,339
Net Book Value
As at 31 March 2025 -
As at 1 April 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2024 48,161
Additions 2,424
As at 31 March 2025 50,585
Depreciation
As at 1 April 2024 41,362
Provided during the period 3,182
As at 31 March 2025 44,544
Net Book Value
As at 31 March 2025 6,041
As at 1 April 2024 6,799
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 500 -
Other debtors 255,363 289,173
255,863 289,173
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7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 630 71
Bank loans and overdrafts 9,981 10,000
Other creditors 64,143 11,927
Taxation and social security 64,905 92,875
139,659 114,873
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 2,539 12,500
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2024 Amounts advanced Amounts repaid Amounts written off As at 31 March 2025
£ £ £ £ £
Mr Matthew Dunkley 232,996 2,892 - - 235,888
During the year amounts were lent to the directors, interest of £6,584 (2024 - £5,866) was charged on the amounts outstanding during the year.
11. Related Party Transactions
During the year, use of home as office was paid to a director of £1,677 (2024 - £1,677).
During the year, the company purchased consulting services amounting to £nil (2024 - £47,567) from From Britain with Love Retail Services Limited, a company in which a director Mrs L Dunkley has a controlling interest. These services were purchased on an arm's length basis. There were no amounts outstanding to or from the company at the period end. (2024 - £nil).
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