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Company Registration No. 08614097 (England and Wales)
The Music Store Limited Unaudited accounts for the year ended 29 December 2023
The Music Store Limited Unaudited accounts Contents
Page
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The Music Store Limited Company Information for the year ended 29 December 2023
Director
Mark Jonathan Hawkins
Company Number
08614097 (England and Wales)
Registered Office
40A Market Street Kidsgrove Stoke-on-Trent ST7 4AB England
Accountants
Charterhouse Accountants 5 Eastgate Business Centre Eastern Avenue Burton on Trent Staffordshire DE13 0AT
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The Music Store Limited Statement of financial position as at 29 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
86,070 
105,870 
Tangible assets
983 
2,658 
87,053 
108,528 
Current assets
Inventories
71,711 
78,030 
Debtors
- 
14,039 
Cash at bank and in hand
308,570 
191,099 
380,281 
283,168 
Creditors: amounts falling due within one year
(231,136)
(95,637)
Net current assets
149,145 
187,531 
Total assets less current liabilities
236,198 
296,059 
Creditors: amounts falling due after more than one year
(138,689)
(197,640)
Net assets
97,509 
98,419 
Capital and reserves
Called up share capital
14,285 
14,285 
Share premium
95,727 
95,727 
Profit and loss account
(12,503)
(11,593)
Shareholders' funds
97,509 
98,419 
For the year ending 29 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 5 February 2024 and were signed on its behalf by
Mark Jonathan Hawkins Director Company Registration No. 08614097
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The Music Store Limited Notes to the Accounts for the year ended 29 December 2023
1
Statutory information
The Music Store Limited is a private company, limited by shares, registered in England and Wales, registration number 08614097. The registered office is 40A Market Street, Kidsgrove, Stoke-on-Trent, ST7 4AB, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: Fixtures and fittings - 33% on cost Computer equipment - 33% on cost
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation, and are being amortised evenly over their useful life of ten years.
Government grants & Furlough Contributions
Government Grants relating to Covid-19 business support are included in full within the Profit and Loss accounts, as are Furlough Payments received throughout the year.
Share Premium
Share premium declared on the balance sheet of £95,726.90 is in relation to: D Clapp share premium @ 22.34p per share ordinary share (4,285 shares)
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The Music Store Limited Notes to the Accounts for the year ended 29 December 2023
4
Intangible fixed assets
Goodwill 
Other 
Total 
£ 
£ 
£ 
Cost
At 30 December 2022
151,794 
51,000 
202,794 
At 29 December 2023
151,794 
51,000 
202,794 
Amortisation
At 30 December 2022
57,206 
39,718 
96,924 
Charge for the year
13,800 
6,000 
19,800 
At 29 December 2023
71,006 
45,718 
116,724 
Net book value
At 29 December 2023
80,788 
5,282 
86,070 
At 29 December 2022
94,588 
11,282 
105,870 
5
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 30 December 2022
10,645 
6,557 
17,202 
At 29 December 2023
10,645 
6,557 
17,202 
Depreciation
At 30 December 2022
9,096 
5,448 
14,544 
Charge for the year
1,675 
- 
1,675 
At 29 December 2023
10,771 
5,448 
16,219 
Net book value
At 29 December 2023
(126)
1,109 
983 
At 29 December 2022
1,549 
1,109 
2,658 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due after more than one year
Other debtors
- 
14,039 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
1,864 
1,100 
VAT
38,715 
35,077 
Trade creditors
120,341 
55,669 
Taxes and social security
2,470 
2,470 
Other creditors
2,207 
1,321 
Loans from directors
35,539 
- 
Accruals
30,000 
- 
231,136 
95,637 
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The Music Store Limited Notes to the Accounts for the year ended 29 December 2023
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
22,491 
33,140 
Other creditors
- 
12,000 
Loans from directors
- 
6,000 
Accruals
116,198 
146,500 
138,689 
197,640 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
10,000 Ordinary Shares M Hawkins of £1 each
10,000 
10,000 
4,285 Ordinary Shares D Clapp of £1 each
4,285 
4,285 
14,285 
14,285 
10
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Mark Jonathan Hawkins
Loans repayable to Director
12,000 
23,539 
- 
35,539 
12,000 
23,539 
- 
35,539 
11
Average number of employees
During the year the average number of employees was 8 (2022: 8).
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