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Unaudited Financial Statements for the Year Ended 30 April 2021 |
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Les Aldrich Music Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30 April 2021 |
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for |
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Les Aldrich Music Limited |
Les Aldrich Music Limited (Registered number: 08400567) |
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Contents of the Financial Statements |
for the Year Ended 30 April 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Les Aldrich Music Limited |
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Company Information |
for the Year Ended 30 April 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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The Old Grange |
Warren Estate |
Lordship Road |
Writtle |
Essex |
CM1 3WT |
Les Aldrich Music Limited (Registered number: 08400567) |
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Balance Sheet |
30 April 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Les Aldrich Music Limited (Registered number: 08400567) |
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Balance Sheet - continued |
30 April 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Les Aldrich Music Limited (Registered number: 08400567) |
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Notes to the Financial Statements |
for the Year Ended 30 April 2021 |
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1. | STATUTORY INFORMATION |
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Les Aldrich Music Limited is a
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The company is not part of a group |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Significant judgements and estimates |
No significant judgements or estimations have been applied in the preparation of the financial statements. |
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Revenue |
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax. |
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Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, has been fully amortised. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost less any accumulated depreciation and any accumulated impairment losses. |
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Depreciation is provided at the following annual rates, in order to write off each asset over its estimated useful life: |
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Land and buildings - 10% on cost |
Plant and machinery etc - 20% on reducing balance and 33% on cost |
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Government grants |
Grants are accounted under the accruals model as permitted by FRS 102. The deferred element of grants is included in creditors as deferred income. |
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Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Financial instruments |
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. |
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Les Aldrich Music Limited (Registered number: 08400567) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2021 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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Going concern |
The accounts have been prepared on the going concern basis which assumes the continued support of the directors and shareholders. The directors have confirmed that this support will continue and believe that no adjustments relating to the company's ability to continue as a going concern need to be made to these financial statements. |
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Debtors |
Short term debtors are measured at transaction price, less any impairment. |
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Creditors |
Short term creditors are measured at the transaction price. |
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Other financial liabilities, including bank loans are also measured at transaction price since the difference between this basis and the amortised cost basis is not material. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Les Aldrich Music Limited (Registered number: 08400567) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2021 |
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 May 2020 |
and 30 April 2021 |
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AMORTISATION |
At 1 May 2020 |
and 30 April 2021 |
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NET BOOK VALUE |
At 30 April 2021 |
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At 30 April 2020 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 May 2020 |
and 30 April 2021 |
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DEPRECIATION |
At 1 May 2020 |
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Charge for year |
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At 30 April 2021 |
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NET BOOK VALUE |
At 30 April 2021 |
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At 30 April 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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Les Aldrich Music Limited (Registered number: 08400567) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2021 |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2021 | 2020 |
£ | £ |
Other creditors |
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