Registration number: 14128103

Record Culture Ltd

(Registration number: 14128103)
Balance Sheet as at 31 May 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	723	903
Current assets
Stocks	5	40,126	43,147
Debtors	6	1,246	3,437
Cash at bank and in hand		3,894	9,086
		45,266	55,670
Creditors: Amounts falling due within one year	7	(55,972)	(62,317)
Net current liabilities		(10,706)	(6,647)
Net liabilities		(9,983)	(5,744)
Capital and reserves
Called up share capital	8	100	100
Retained earnings		(10,083)	(5,844)
Shareholders' deficit		(9,983)	(5,744)

For the financial year ending 31 May 2026 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 September 2026
 

......................................... Mr L Newman Director

Record Culture Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026

1	General information

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

The address of its registered office is:
11 Market Street
Stourbridge
DY8 1AB

These financial statements were authorised for issue by the director on 7 September 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 company ceased to trade from its premises in September 2026, the trade of record sales will continue online. The director confirms that he will make funds available to the business to ensure that it meets it's liabilities.

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.

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.

Record Culture Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026

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	20% reducing balance

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade 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.

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.

Record Culture Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026

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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2025 - 2).

Record Culture Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026

4	Tangible assets

	Plant and machinery £	Total £
Cost or valuation
At 1 June 2025	1,486	1,486
At 31 May 2026	1,486	1,486
Depreciation
At 1 June 2025	583	583
Charge for the year	180	180
At 31 May 2026	763	763
Carrying amount
At 31 May 2026	723	723
At 31 May 2025	903	903

5

Stocks

	2026 £	2025 £
Other inventories	40,126	43,147

6

Debtors

Current	2026 £	2025 £
Trade debtors	646	2,837
Prepayments	600	600
	1,246	3,437

7

Creditors

Creditors: amounts falling due within one year

	2026 £	2025 £
Due within one year
Trade creditors	9,244	20,498
Taxation and social security	2,004	1,873
Accruals and deferred income	3,000	-
Other creditors	41,724	39,946
	55,972	62,317

Record Culture Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026

8	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100