Company No: 10339203 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2021		2020
		£		£
Fixed assets
Tangible assets	4	7,400		12,333
		7,400		12,333
Current assets
Cash at bank and in hand		4,347		1,368
		4,347		1,368
Creditors
Amounts falling due within one year	5	( 8,531)		( 14,155)
Net current liabilities		(4,184)		(12,787)
Total assets less current liabilities		3,216		(454)
Provisions for liabilities		( 1,406)		( 2,343)
Net assets/(liabilities)		1,810		( 2,797)
Capital and reserves
Called-up share capital		100		100
Profit and loss account		1,710		( 2,897 )
Total shareholder's funds/(deficit)		1,810		( 2,797)

For the financial year ending 31 August 2021 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Bournemouth Academy of Modern Music Limited (registered number: 10339203) were approved and authorised for issue by the Director on 09 May 2022. They were signed on its behalf by:

Alan David Barclay Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Bournemouth Academy of Modern Music Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 3 - 5 Knighton Heath Estate, 855 Ringwood Road, Bournemouth, BH11 8NE, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

3 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 3 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery etc.

5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

	2021		2020
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 September 2020	25,000		25,000
At 31 August 2021	25,000		25,000
Accumulated amortisation
At 01 September 2020	25,000		25,000
At 31 August 2021	25,000		25,000
Net book value
At 31 August 2021	0		0
At 31 August 2020	0		0

4. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 September 2020	55,000		55,000
Additions	6,500		6,500
At 31 August 2021	61,500		61,500
Accumulated depreciation
At 01 September 2020	42,667		42,667
Charge for the financial year	11,433		11,433
At 31 August 2021	54,100		54,100
Net book value
At 31 August 2021	7,400		7,400
At 31 August 2020	12,333		12,333

5. Creditors: amounts falling due within one year

	2021		2020
	£		£
Amounts owed to Group undertakings	5,935		13,935
Corporation tax	2,596		220
	8,531		14,155

6. Ultimate controlling party

Parent Company:

Absolute Music Solutions Limited

Unit 3-5 Knighton Heath Industrial Estate, 855 Ringwood Road, Bournemouth, Dorset, BH11 8NE