Company Registration No. 12470304 (England and Wales)
MIKE MCGINN AUDIO LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
MIKE MCGINN AUDIO LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 4
MIKE MCGINN AUDIO LTD
ENTERTAINMENT ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MIKE MCGINN AUDIO LTD FOR THE YEAR ENDED 28 FEBRUARY 2023
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mike McGinn Audio Ltd for the year ended 28 February 2023 which comprise, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
It is your duty to ensure that Mike McGinn Audio Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Mike McGinn Audio Ltd. You consider that Mike McGinn Audio Ltd is exempt from the statutory audit requirement for the year.
Theataccounts Limited
26 May 2023
Entertainment Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
MIKE MCGINN AUDIO LTD
BALANCE SHEET
AS AT 28 FEBRUARY 2023
28 February 2023
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2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,050
2,687
Current assets
Cash at bank and in hand
270
270
Creditors: amounts falling due within one year
4
(885)
(692)
Net current liabilities
(615)
(422)
Total assets less current liabilities
1,435
2,265
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
1,335
2,165
Total equity
1,435
2,265
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and signed by the director and authorised for issue on 26 May 2023
Mr M McGinn
Director
Company Registration No. 12470304
MIKE MCGINN AUDIO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
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1
Accounting policies
Company information
Mike McGinn Audio Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 11 Brodrick Road, Tooting, London, Greater London, SW17 7DZ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
1.2
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% reducing balance
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2022 - 1).
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2022 and 28 February 2023
4,199
Depreciation and impairment
At 1 March 2022
1,512
Depreciation charged in the year
637
At 28 February 2023
2,149
Carrying amount
At 28 February 2023
2,050
At 28 February 2022
2,687
4
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
885
692
MIKE MCGINN AUDIO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
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5
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary A of £1 each
100
100