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REGISTERED NUMBER: 09374416 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

MUSICART GLOBAL LTD

MUSICART GLOBAL LTD (REGISTERED NUMBER: 09374416)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MUSICART GLOBAL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTOR: J P Siebor





REGISTERED OFFICE: Craven House
40-44 Uxbridge Road
LONDON
W5 2BS





REGISTERED NUMBER: 09374416 (England and Wales)





ACCOUNTANTS: J.Dauman Finance Ltd
Chartered Accountants
Craven House
Ground Floor
40-44 Uxbridge Road
Ealing
London
W5 2BS

MUSICART GLOBAL LTD (REGISTERED NUMBER: 09374416)

BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 574 639
574 639

CURRENT ASSETS
Debtors 6 195,444 73,802
Prepayments and accrued income 69 1,626
Cash at bank and in hand 53,205 2,379
248,718 77,807
CREDITORS
Amounts falling due within one year 7 438,463 377,596
NET CURRENT LIABILITIES (189,745 ) (299,789 )
TOTAL ASSETS LESS CURRENT LIABILITIES (189,171 ) (299,150 )

ACCRUALS AND DEFERRED INCOME 52,725 57,590
NET LIABILITIES (241,896 ) (356,740 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (241,996 ) (356,840 )
SHAREHOLDERS' FUNDS (241,896 ) (356,740 )

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 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 30 September 2023 and were signed by:





K Gondek - Director


MUSICART GLOBAL LTD (REGISTERED NUMBER: 09374416)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

Musicart Global 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.

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

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

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

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 - 2 ).

MUSICART GLOBAL LTD (REGISTERED NUMBER: 09374416)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2022
and 31 December 2022 109
AMORTISATION
At 1 January 2022
and 31 December 2022 109
NET BOOK VALUE
At 31 December 2022 -
At 31 December 2021 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2022 657 10,173 10,830
Exchange differences 8 1 9
At 31 December 2022 665 10,174 10,839
DEPRECIATION
At 1 January 2022 79 10,112 10,191
Charge for year 16 58 74
At 31 December 2022 95 10,170 10,265
NET BOOK VALUE
At 31 December 2022 570 4 574
At 31 December 2021 578 61 639

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 70,407 65,679
Other debtors 125,037 8,123
195,444 73,802

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 63,194 6,734
Taxation and social security 373,924 368,684
Other creditors 1,345 2,178
438,463 377,596