Arranged Musical Options Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03818887 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2020

for

Arranged Musical Options Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

5,462

8,312

Tangible assets

5

940,941

916,669

Investments

6

100

-

946,503

924,981

CURRENT ASSETS

Stocks

7

501,868

573,026

Debtors

8

97,280

4,507

Cash at bank

11,242

6,293

610,390

583,826

CREDITORS

Amounts falling due within one year

9

(590,197

)

(564,820

)

NET CURRENT ASSETS

20,193

19,006

TOTAL ASSETS LESS CURRENT LIABILITIES

966,696

943,987

CREDITORS

Amounts falling due after more than one year

10

(381,797

)

(265,616

)

PROVISIONS FOR LIABILITIES

(150,767

)

(150,767

)

NET ASSETS

434,132

527,604

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

12

351,789

351,789

Retained earnings

82,243

175,715

SHAREHOLDERS' FUNDS

434,132

527,604

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 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 24 December 2021 and were signed by:

Mr A M Oliver - Director

1.	STATUTORY INFORMATION

Arranged Musical Options Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

03818887

Registered office:

Xenon House

10 School Lane

Didsbury

Manchester

M20 6RD

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 as modified by the revaluation of certain assets.

The Director confirms that, after due consideration, they consider that the Company has adequate resources to continue in business. Accordingly, the annual report and financial statements for the year ended 31 July 2020 have been prepared on the going concern basis.

Turnover

Turnover is recognised when the company obtains the right to consideration.

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.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% on cost

Computer equipment

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2019 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 August 2019

and 31 July 2020

11,400

AMORTISATION

At 1 August 2019

3,088

Amortisation for year

2,850

At 31 July 2020

5,938

NET BOOK VALUE

At 31 July 2020

5,462

At 31 July 2019

8,312

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST OR VALUATION

At 1 August 2019

900,000

41,232

10,646

Additions

-

-

-

At 31 July 2020

900,000

41,232

10,646

DEPRECIATION

At 1 August 2019

-

39,334

5,910

Charge for year

-

285

710

At 31 July 2020

-

39,619

6,620

NET BOOK VALUE

At 31 July 2020

900,000

1,613

4,026

At 31 July 2019

900,000

1,898

4,736

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST OR VALUATION

At 1 August 2019

25,093

26,715

1,003,686

Additions

39,656

-

39,656

At 31 July 2020

64,749

26,715

1,043,342

DEPRECIATION

At 1 August 2019

18,556

23,217

87,017

Charge for year

12,950

1,439

15,384

At 31 July 2020

31,506

24,656

102,401

NET BOOK VALUE

At 31 July 2020

33,243

2,059

940,941

At 31 July 2019

6,537

3,498

916,669

Cost or valuation at 31 July 2020 is represented by:

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

Valuation in 2017

477,187

-

-

Cost

422,813

41,232

10,646

900,000

41,232

10,646

Motor

Computer

vehicles

equipment

Totals

£

£

£

Valuation in 2017

-

-

477,187

Cost

64,749

26,715

566,155

64,749

26,715

1,043,342

If Freehold Property had not been revalued it would have been included at the following historical cost:

31.7.20

31.7.19

£

£

Cost

422,813

422,813

Aggregate depreciation

25,369

25,369

Freehold Property was valued on an open market basis on 31 July 2017 by the director .

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

100

At 31 July 2020

100

NET BOOK VALUE

At 31 July 2020

100

The company's investments at the Balance Sheet date in the share capital of companies include the following:

DAWSONS MUSIC & SOUND LTD

Registered office: C/O Interpath Limited 1 Sovereign Square, Sovereign Street, Leeds, West Yorkshire, LS1 4DA

Nature of business: Wholesale of musical instruments

%

Class of shares:

holding

A

100.00

No financial statements have been submitted for this subsidiary.

7.

STOCKS

31.7.20

31.7.19

£

£

Stocks

501,868

573,026

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.20

31.7.19

£

£

Trade debtors

11,622

4,507

Other debtors

85,658

-

97,280

4,507

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.20

31.7.19

£

£

Bank loans and overdrafts

41,138

72,761

Trade creditors

106,916

126,960

Taxation and social security

34,772

20,498

Other creditors

407,371

344,601

590,197

564,820

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.20

31.7.19

£

£

Bank loans

381,797

265,616

31.7.20

31.7.19

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instalments

189,803

179,585

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.20

31.7.19

£

£

Bank loans

422,935

338,377

The loan is secured on the freehold land and buildings.

12.

RESERVES

Revaluation

reserve

£

At 1 August 2019

and 31 July 2020

351,789

13.	POST BALANCE SHEET EVENTS

In other debtors there is a balance owed by its subsidiary Dawsons Music & Sound Ltd totalling £81,690.78.

Subsequent to the year-end the subsidiary went into administration on the 1st September 2021. As such the loan owed will be written off in the year-ending 31 July 2022.

14.

CHARGES

There is a first fixed and floating charge held by The Royal Bank of Scotland PLC over the property of the company.

There is also a second fixed and floating charge held by BZ Commercial Finance Designated Activity Company over the property of the company.