Insomnia Music Uk Ltd - Accounts to registrar (filleted) - small 23.2

REGISTERED NUMBER: 04117485 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2022

for

Insomnia Music Uk Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M. Chambers

M D Chambers

R Chambers

SECRETARY:

M. Chambers

REGISTERED OFFICE:

Belfry House

Bell Lane

Hertford

Hertfordshire

SG14 1BP

REGISTERED NUMBER:

04117485 (England and Wales)

ACCOUNTANTS:

Philip T. Chave & Co

Belfry House

Bell Lane

Hertford

Hertfordshire

SG14 1BP

FIXED ASSETS

Tangible assets

4

2,293

3,058

Investments

5

80,600

80,600

82,893

83,658

CURRENT ASSETS

Debtors

474,275

489,607

Cash at bank and in hand

2,182

667

476,457

490,274

CREDITORS

Amounts falling due within one year

6,795

11,810

NET CURRENT ASSETS

469,662

478,464

TOTAL ASSETS LESS CURRENT LIABILITIES

552,555

562,122

CREDITORS

Amounts falling due after more than one year

939,828

943,825

NET LIABILITIES

(387,273

)

(381,703

)

CAPITAL AND RESERVES

Called up share capital

6

100,100

100,100

Retained earnings

(487,373

)

(481,803

)

SHAREHOLDERS' FUNDS

(387,273

)

(381,703

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

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.

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 21 September 2023 and were signed on its behalf by:

M D Chambers - Director

1.	STATUTORY INFORMATION

Insomnia Music Uk Ltd 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.

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.

The accounts have been prepared on a going concern basis, based on the continued financial support of the Director.

Preparation of consolidated financial statements

The financial statements contain information about Insomnia Music Uk Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2022

and 31 December 2022

92,580

DEPRECIATION

At 1 January 2022

89,522

Charge for year

765

At 31 December 2022

90,287

NET BOOK VALUE

At 31 December 2022

2,293

At 31 December 2021

3,058

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 January 2022

and 31 December 2022

80,600

NET BOOK VALUE

At 31 December 2022

80,600

At 31 December 2021

80,600

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

The Stageworks Gear Company Limited

Registered office: United Kingdom

Nature of business: Manufacture and marketing of musical instruments

%

Class of shares:

holding

Ordinary

100.00

31.12.22

31.12.21

£

£

Aggregate capital and reserves

(390,352

)

(384,641

)

Loss for the year

(5,711

)

(10,645

)

6.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

31.12.22

31.12.21

value:

£

£

100,100

Ordinary shares

£1

100,100

100,100