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REGISTERED NUMBER: SC649734 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

Skerryvore Music Ltd

Skerryvore Music Ltd (Registered number: SC649734)






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


Skerryvore Music Ltd

Company Information
for the Year Ended 31 December 2022







DIRECTORS: A N Dalglish
M J Gillespie
D A Gillespie
F West





REGISTERED OFFICE: 19 Carbeth Road
Milngavie
Glasgow
G62 7PR





REGISTERED NUMBER: SC649734 (Scotland)





ACCOUNTANTS: Bell Barr & Company
Chartered Accountants
2 Stewart Street
Milngavie
Glasgow
G62 6BW

Skerryvore Music Ltd (Registered number: SC649734)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,920 5,017

CURRENT ASSETS
Debtors 5 64,468 112
Cash at bank 41,122 130,622
105,590 130,734
CREDITORS
Amounts falling due within one year 6 73,845 115,893
NET CURRENT ASSETS 31,745 14,841
TOTAL ASSETS LESS CURRENT
LIABILITIES

53,665

19,858

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 53,565 19,758
53,665 19,858

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.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2023 and were signed on its behalf by:





M J Gillespie - Director


Skerryvore Music Ltd (Registered number: SC649734)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Skerryvore Music Ltd is a private company, limited by shares , registered in Scotland. 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 directors have reviewed the company's operating costs for the next twelve months and the sources of funds available and are satisfied that the company has adequate resources to continue for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the 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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - Straight line over 3 years
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Cash at bank
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the account.

Skerryvore Music Ltd (Registered number: SC649734)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2022 5,552 - 2,694 8,246
Additions - 23,832 2,666 26,498
At 31 December 2022 5,552 23,832 5,360 34,744
DEPRECIATION
At 1 January 2022 2,059 - 1,170 3,229
Charge for year 1,850 5,958 1,787 9,595
At 31 December 2022 3,909 5,958 2,957 12,824
NET BOOK VALUE
At 31 December 2022 1,643 17,874 2,403 21,920
At 31 December 2021 3,493 - 1,524 5,017

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors - 112
Other debtors 64,468 -
64,468 112

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans and overdrafts - 49,900
Trade creditors 5,507 17,194
Taxation and social security 4,784 7,279
Other creditors 63,554 41,520
73,845 115,893