School House Music Limited - Accounts to registrar (filleted) - small 18.2

School House Music Limited - Accounts to registrar (filleted) - small 18.2

SCHOOL HOUSE MUSIC LIMITED - Company Information

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REGISTERED NUMBER: 09212273 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

SCHOOL HOUSE MUSIC LIMITED
SCHOOL HOUSE MUSIC LIMITED (REGISTERED NUMBER: 09212273)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SCHOOL HOUSE MUSIC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTOR: S P Fawcett





REGISTERED OFFICE: 23 High Street
Pewsey
Wiltshire
SN9 5AF





REGISTERED NUMBER: 09212273 (England and Wales)





ACCOUNTANTS: Macalvins Limited
Chartered Accountants
7 St John's Road
Harrow
Middlesex
HA1 2EY
Page 1
SCHOOL HOUSE MUSIC LIMITED (REGISTERED NUMBER: 09212273)

BALANCE SHEET
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Music 4 186,002 199,746

CURRENT ASSETS
Debtors 5 36,713 49,327

CREDITORS
Amounts falling due within one year 6 21,607 48,273
NET CURRENT ASSETS 15,106 1,054
TOTAL ASSETS LESS CURRENT
LIABILITIES
201,108
200,800

CAPITAL AND RESERVES
Called up share capital 4 4
Share premium Account 199,996 199,996
Retained earnings 1,108 800
SHAREHOLDERS' FUNDS 201,108 200,800

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The 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.

The financial statements were approved by the director and authorised for issue on 29 September 2022 and were signed by:





S P Fawcett - Director


The notes form part of these financial statements

Page 2
SCHOOL HOUSE MUSIC LIMITED (REGISTERED NUMBER: 09212273)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1. STATUTORY INFORMATION

School House Music Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents income earned from music catalogues during the year.

Revenue recognition
Income from music catalogues is recognised in the accounting period in which the company receives it.

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.

Music catalogues are being amortised evenly over their estimated useful life of twenty years.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

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SCHOOL HOUSE MUSIC LIMITED (REGISTERED NUMBER: 09212273)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

4. INTANGIBLE FIXED ASSETS
Music
Catalogues
£   
COST
At 1 January 2021
and 31 December 2021 274,889
AMORTISATION
At 1 January 2021 75,143
Amortisation for year 13,744
At 31 December 2021 88,887
NET BOOK VALUE
At 31 December 2021 186,002
At 31 December 2020 199,746

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Amounts owed by related parties 31,199 41,160
Other debtors 5,514 8,167
36,713 49,327

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 7,750 15,250
Amounts owed to related parties 10,500 29,000
Taxation and social security 3,357 4,023
21,607 48,273

7. RELATED PARTY DISCLOSURES

At the balance sheet date, the following balances were outstanding in respect of related parties:

Details Relation 2021 2020
£    £   
Debtors:
Copyright Administration Services Ltd Common director 31,199 41,160
------------ ------------
31,199 41,160
------------ ------------


Creditors:
Filmtrax Ltd Common director 7,000 24,750
T Inge Shareholder 3,500 4,250
----------- -----------
10,500 29,000
----------- -----------
There are no fixed terms of repayment towards the amounts outstanding.

Page 4