Company Registration No. 12995294 (England and Wales)
GAS STREET MUSIC LTD
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
GAS STREET MUSIC LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
1
2023
2022
Notes
£
£
£
£
Current assets
-
-
Creditors: amounts falling due within one year
3
(384)
(40,442)
Net current liabilities
(384)
(40,442)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(385)
(40,443)
Total equity
(384)
(40,442)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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 by the board of directors and authorised for issue on 21 March 2024 and are signed on its behalf by:
Mr T Hughes
Director
Company Registration No. 12995294
GAS STREET MUSIC LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2
1
Accounting policies
Company information

Gas Street Music Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Church Offices, 38 Berkley Street, Birmingham, West Midlands, BL1 2LB.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The directors consider the going concern basis to be appropriate because the company is supported by

its parent charity, St Luke's PCC, Edgbaston, Birmingham and the directors have confirmation that the loans from entities controlled by directors of Gas Street Music Limited will not be repayable until such time as Gas Street Music Limited has sufficient funds.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

GAS STREET MUSIC LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies (Continued)
3
Basic financial liabilities

Basic financial liabilities, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
384
40,442
2023-12-312023-01-01false21 March 2024CCH SoftwareCCH Accounts Production 2023.100No description of principal activityMr T AndersonMr T GuidottiMr L HellebronthMr T HughesMr J Pearson129952942023-01-012023-12-31129952942023-12-3112995294core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3112995294core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-31129952942022-12-3112995294core:ShareCapital2023-12-3112995294core:ShareCapital2022-12-3112995294core:RetainedEarningsAccumulatedLosses2023-12-3112995294core:RetainedEarningsAccumulatedLosses2022-12-3112995294bus:Director42023-01-012023-12-31129952942022-01-012022-12-3112995294core:CurrentFinancialInstruments2023-12-3112995294core:CurrentFinancialInstruments2022-12-3112995294bus:PrivateLimitedCompanyLtd2023-01-012023-12-3112995294bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3112995294bus:FRS1022023-01-012023-12-3112995294bus:AuditExemptWithAccountantsReport2023-01-012023-12-3112995294bus:Director12023-01-012023-12-3112995294bus:Director22023-01-012023-12-3112995294bus:Director32023-01-012023-12-3112995294bus:Director52023-01-012023-12-3112995294bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP