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
SOUNDMAGIC MUSIC STUDIOS LTD
Company Information
for the year ended 31 December 2022
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
SOUNDMAGIC MUSIC STUDIOS LTD
Statement of financial position
as at 31 December 2022
Tangible assets
52,041
57,823
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)
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
SOUNDMAGIC MUSIC STUDIOS LTD
Notes to the Accounts
for the year ended 31 December 2022
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.
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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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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:
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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
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
At 31 December 2022
36,246
15,795
52,041
At 31 December 2021
40,273
17,550
57,823
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Creditors: amounts falling due within one year
2022
2021
Loans from directors
87,760
88,562
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Average number of employees
During the year the average number of employees was 0 (2021: 0).