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Company Registration No. SC466158 (Scotland)
SOUNDMAGIC MUSIC STUDIOS LTD Unaudited accounts for the year ended 31 December 2022
SOUNDMAGIC MUSIC STUDIOS LTD Unaudited accounts Contents
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SOUNDMAGIC MUSIC STUDIOS LTD Company Information for the year ended 31 December 2022
Director
Mr Barry Thomson
Company Number
SC466158 (Scotland)
Registered Office
40-42 WAGGON ROAD AYR KA8 8BA
Accountants
McKinnon & Co Ltd ACPA 33 Newmarket Street Ayr Ayrshire KA7 1LL
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SOUNDMAGIC MUSIC STUDIOS LTD Statement of financial position as at 31 December 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
52,041 
57,823 
Current assets
Cash at bank and in hand
2,633 
7,423 
Creditors: amounts falling due within one year
(88,402)
(89,179)
Net current liabilities
(85,769)
(81,756)
Net liabilities
(33,728)
(23,933)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(33,828)
(24,033)
Shareholders' funds
(33,728)
(23,933)
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 September 2023 and were signed on its behalf by
Mr Barry Thomson Director Company Registration No. SC466158
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SOUNDMAGIC MUSIC STUDIOS LTD Notes to the Accounts for the year ended 31 December 2022
1
Statutory information
SOUNDMAGIC MUSIC STUDIOS LTD is a private company, limited by shares, registered in Scotland, registration number SC466158. The registered office is 40-42 WAGGON ROAD, AYR, KA8 8BA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2022
47,977 
29,727 
77,704 
At 31 December 2022
47,977 
29,727 
77,704 
Depreciation
At 1 January 2022
7,704 
12,177 
19,881 
Charge for the year
4,027 
1,755 
5,782 
At 31 December 2022
11,731 
13,932 
25,663 
Net book value
At 31 December 2022
36,246 
15,795 
52,041 
At 31 December 2021
40,273 
17,550 
57,823 
5
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Trade creditors
642 
617 
Loans from directors
87,760 
88,562 
88,402 
89,179 
6
Average number of employees
During the year the average number of employees was 0 (2021: 0).
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