Degs_Music_Ltd_15_May_2026_companies_house_set_of

Degs Music Ltd

Report to the board of directors on the preparation of the unaudited statutory financial statements of Degs Music Ltd

Year ended

15 May 2026

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements

Degs Music Ltd

for the year ended

15 May 2026

which comprise the income statement, statement of financial position, statement of changes in equity and related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Members/Doc/rule/2018-rulebook.pdf.

It is your duty to ensure that

Degs Music Ltd

has kept adequate accounting records and to prepare statutory

financial statements

that give a true and fair view of the assets, liabilities, financial position and profit of

Degs Music Ltd

. You consider that

Degs Music Ltd

is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Degs Music Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Clarity Accounting Limited

Chartered Certified Accountants

Office FF10, Brooklands House

58 Marlborough Road

Lancing

West Sussex

BN15 8AF

United Kingdom

Date:

3 September 2026

Degs Music Ltd

Statement of Financial Position

15 May 2026

		2026		2025
	Note	£		£
Fixed assets
Tangible assets	5	5,604		3,434
Current assets
Debtors	6	2,544		9,508
Cash at bank and in hand		286		2,388
		2,830		11,896
Creditors: amounts falling due within one year	7	(6,752	)	(3,135	)
Net current (liabilities)/assets		(3,922	)	8,761
Total assets less current liabilities		1,682		12,195
Provisions for liabilities		(1,064	)	(652	)
Net assets		618		11,543
Capital and reserves
Called up share capital		1		1
Profit and loss account		617		11,542
Shareholders funds		618		11,543

For the year ending

15 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 financial statements for the year in question in accordance with section 476;
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These

financial statements

have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.

In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.

These

financial statements

were approved by the board of directors and authorised for issue on

3 September 2026

, and are signed on behalf of the board by:

Mr. A N Davis

Director

Company registration number:

15720348

Degs Music Ltd

Notes to the Financial Statements

Year ended

15 May 2026

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is

Flat 3 Bramshott Lodge

18a South Bank

Surbiton

KT6 6DB

, United Kingdom.

2 Statement of compliance

These

financial statements

have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The

financial statements

have been prepared on the historical cost basis, as modified by the revaluation of certain assets.

The

financial statements

are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Office equipment

12.50% /20 % WDV

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

4 Average number of employees

The average number of persons employed by the company during the year was

(2025:

5 Tangible assets

	Plant and machinery etc.
	£
Cost
At 16 May 2025	4,067
Additions	3,085
At 15 May 2026	7,152
Depreciation
At 16 May 2025	633
Charge	915
At 15 May 2026	1,548
Carrying amount
At 15 May 2026	5,604
At 15 May 2025	3,434

6 Debtors

	2026		2025
	£		£
Other debtors	2,544		9,508

7 Creditors: amounts falling due within one year

	2026	2025
	£	£
Taxation and social security	4,592	2,055
Other creditors	2,160	1,080
	6,752	3,135

8 Director's advances, credit and guarantees

Included in other debtors is £2,544 (2025 - £9,508) which is owed by A N Davies, the director of the company. The loan is provided on an interest free basis and is repayable on demand.

9 Controlling party

The ultimate controlling party is A N Davies, a director of the company