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REGISTERED NUMBER: 11292289 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2023

FOR

AFO MUSIC NETWORK LIMITED

AFO MUSIC NETWORK LIMITED (REGISTERED NUMBER: 11292289)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


AFO MUSIC NETWORK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2023







DIRECTOR: P Garnett





REGISTERED OFFICE: Mount Pleasant
East Hann Lane
Barrow On Humber
East Yorkshire
DN19 7EH





REGISTERED NUMBER: 11292289 (England and Wales)






AFO MUSIC NETWORK LIMITED (REGISTERED NUMBER: 11292289)

BALANCE SHEET
30TH APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,067 1,094

CURRENT ASSETS
Stocks 500 500
Debtors 5 663 -
Cash at bank 1,547 1,010
2,710 1,510
CREDITORS
Amounts falling due within one year 6 1,644 1,080
NET CURRENT ASSETS 1,066 430
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,133

1,524

PROVISIONS FOR LIABILITIES 7 203 208
NET ASSETS 1,930 1,316

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 1,830 1,216
SHAREHOLDERS' FUNDS 1,930 1,316

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2023 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.

AFO MUSIC NETWORK LIMITED (REGISTERED NUMBER: 11292289)

BALANCE SHEET - continued
30TH APRIL 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26th October 2023 and were signed by:





P Garnett - Director


AFO MUSIC NETWORK LIMITED (REGISTERED NUMBER: 11292289)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2023

1. STATUTORY INFORMATION

AFO Music Network Limited 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.

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 - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

AFO MUSIC NETWORK LIMITED (REGISTERED NUMBER: 11292289)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1st May 2022 2,393
Additions 239
At 30th April 2023 2,632
DEPRECIATION
At 1st May 2022 1,299
Charge for year 266
At 30th April 2023 1,565
NET BOOK VALUE
At 30th April 2023 1,067
At 30th April 2022 1,094

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 663 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation tax 837 81
Social security and other taxes 130 130
Directors' current accounts 292 569
Accruals and deferred income 385 300
1,644 1,080

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 203 208

Deferred
tax
£   
Balance at 1st May 2022 208
Accelerated capital allowances (5 )
Balance at 30th April 2023 203

AFO MUSIC NETWORK LIMITED (REGISTERED NUMBER: 11292289)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1st May 2022 1,216
Profit for the year 3,614
Dividends (3,000 )
At 30th April 2023 1,830

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P Garnett.