Pachrap Music Solutions Limited 13989449 false 2022-03-19 2023-03-31 2023-03-31 The principal activity of the company is Musician Digita Accounts Production Advanced 6.30.9574.0 true 13989449 2022-03-19 2023-03-31 13989449 2023-03-31 13989449 bus:Director1 1 2023-03-31 13989449 bus:OrdinaryShareClass1 2023-03-31 13989449 bus:OrdinaryShareClass2 2023-03-31 13989449 core:CurrentFinancialInstruments 2023-03-31 13989449 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13989449 core:FurnitureFittingsToolsEquipment 2023-03-31 13989449 bus:SmallEntities 2022-03-19 2023-03-31 13989449 bus:AuditExemptWithAccountantsReport 2022-03-19 2023-03-31 13989449 bus:FullAccounts 2022-03-19 2023-03-31 13989449 bus:SmallCompaniesRegimeForAccounts 2022-03-19 2023-03-31 13989449 bus:RegisteredOffice 2022-03-19 2023-03-31 13989449 bus:Director1 2022-03-19 2023-03-31 13989449 bus:Director1 1 2022-03-19 2023-03-31 13989449 bus:Director2 2022-03-19 2023-03-31 13989449 bus:Director3 2022-03-19 2023-03-31 13989449 bus:OrdinaryShareClass1 2022-03-19 2023-03-31 13989449 bus:OrdinaryShareClass2 2022-03-19 2023-03-31 13989449 bus:PrivateLimitedCompanyLtd 2022-03-19 2023-03-31 13989449 core:FurnitureFittings 2022-03-19 2023-03-31 13989449 core:FurnitureFittingsToolsEquipment 2022-03-19 2023-03-31 13989449 core:OfficeEquipment 2022-03-19 2023-03-31 13989449 countries:AllCountries 2022-03-19 2023-03-31 13989449 bus:Director1 1 2022-03-18 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13989449

Pachrap Music Solutions Limited

Annual Report and Unaudited Financial Statements

for the Period from 19 March 2022 to 31 March 2023

 

Pachrap Music Solutions Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Pachrap Music Solutions Limited

Company Information

Directors

Mrs P C C Chirambo Pepala

Mr M L Pepala

Miss P L Pepala

Registered office

2 Western Street
Barnsley
South Yorkshire
S70 2BP

Accountants

Cameron Alexander Accountants Limited
Chartered Certified Accountants
2 Western Street
Barnsley
S70 2BP

 

Pachrap Music Solutions Limited

(Registration number: 13989449)
Balance Sheet as at 31 March 2023

Note

2023
£

Fixed assets

 

Tangible assets

3

2,036

Current assets

 

Debtors

4

1,091

Cash at bank and in hand

 

42,552

 

43,643

Creditors: Amounts falling due within one year

5

(16,285)

Net current assets

 

27,358

Total assets less current liabilities

 

29,394

Provisions for liabilities

(387)

Net assets

 

29,007

Capital and reserves

 

Called up share capital

6

100

Retained earnings

28,907

Shareholders' funds

 

29,007

For the financial period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 November 2023 and signed on its behalf by:
 

.........................................
Mr M L Pepala
Director

 

Pachrap Music Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 19 March 2022 to 31 March 2023

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Pachrap Music Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 19 March 2022 to 31 March 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

-25% Reducing Balance

Office Equipment

-25% Reducing balance

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

2

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

 

Pachrap Music Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 19 March 2022 to 31 March 2023

3

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

2,572

2,572

At 31 March 2023

2,572

2,572

Depreciation

Charge for the period

536

536

At 31 March 2023

536

536

Carrying amount

At 31 March 2023

2,036

2,036

4

Debtors

Current

2023
£

Trade debtors

69

Other debtors

1,022

 

1,091

5

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Trade creditors

480

Other creditors

15,805

16,285

 

Pachrap Music Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 19 March 2022 to 31 March 2023

6

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary of £1 each

99

99

Ordinary A of £1 each

1

1

 

100

100

7

Related party transactions

Transactions with directors

2023

At 19 March 2022
£

Repayments by director
£

At 31 March 2023
£

Mrs P C C Chirambo Pepala

No interest is charged on the loan and there is no fixed date of repayment.

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