Filleted

Registration number: 04922356

John James Music Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 10

John James Music Limited

Company Information

Director

Mr R James

Registered office

Llys Deri Parc Pensarn Carmarthen SA31 2NF

John James Music Limited

(Registration number: 04922356)
Balance Sheet as at 30 August 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	4,081	3,940
Current assets
Stocks	6	70,150	73,400
Cash at bank and in hand		12,232	20,384
		82,382	93,784
Creditors: Amounts falling due within one year	7	(39,736)	(47,572)
Net current assets		42,646	46,212
Total assets less current liabilities		46,727	50,152
Creditors: Amounts falling due after more than one year	7	(29,950)	(35,717)
Provisions for liabilities		(558)	(748)
Net assets		16,219	13,687
Capital and reserves
Called up share capital		303	303
Profit and loss account		15,916	13,384
Total equity		16,219	13,687

For the financial year ending 30 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

John James Music Limited

(Registration number: 04922356)
Balance Sheet as at 30 August 2025

Approved and authorised by the director on 13 May 2026
 

......................................... Mr R James Director

John James Music Limited

Notes to the Financial Statements for the Year Ended 30 August 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

The principal place of business is:
Y Stiwdio Gerdd
4 Nott Square
Carmarthen
SA31 1PG

These financial statements were authorised for issue by the director on 13 May 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The directors will support the company for the foreseeable future and pay debts as they fall due.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

John James Music Limited

Notes to the Financial Statements for the Year Ended 30 August 2025

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant & Machinery	15% Reducing Balance
Motor Vehicles	25% Reducing Balance
Office Equipment	33% Straight Line

Goodwill

Goodwill arising on the acquisition 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 acquisition. 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, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10% Straight Line

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.

John James Music Limited

Notes to the Financial Statements for the Year Ended 30 August 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

John James Music Limited

Notes to the Financial Statements for the Year Ended 30 August 2025

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 4).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 31 August 2024	12,000	12,000
At 30 August 2025	12,000	12,000
Amortisation
At 31 August 2024	12,000	12,000
At 30 August 2025	12,000	12,000
Carrying amount
At 30 August 2025	-	-

Revalued assets for the year ended 30 August 2024

5	Tangible assets

	Plant and machinery £	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 31 August 2024	14,637	5,688	17,039	37,364
Additions	-	1,347	-	1,347
At 30 August 2025	14,637	7,035	17,039	38,711
Depreciation
At 31 August 2024	13,745	5,546	14,133	33,424
Charge for the year	134	346	726	1,206
At 30 August 2025	13,879	5,892	14,859	34,630
Carrying amount
At 30 August 2025	758	1,143	2,180	4,081
At 30 August 2024	892	142	2,906	3,940

John James Music Limited

Notes to the Financial Statements for the Year Ended 30 August 2025

6

Stocks

	2025 £	2024 £
Other inventories	70,150	73,400

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Trade creditors		13,152	16,393
Taxation and social security		4,899	3,802
Directors' loan accounts	10	18,622	25,665
Other creditors		3,063	1,712
		39,736	47,572