Music Music Music Limited 07306848 false 2022-06-01 2023-05-31 2023-05-31 The principal activity of the company is that of a theatre company. Digita Accounts Production Advanced 6.30.9574.0 true true 07306848 2022-06-01 2023-05-31 07306848 2023-05-31 07306848 core:CurrentFinancialInstruments 2023-05-31 07306848 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 07306848 bus:SmallEntities 2022-06-01 2023-05-31 07306848 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 07306848 bus:FullAccounts 2022-06-01 2023-05-31 07306848 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 07306848 bus:RegisteredOffice 2022-06-01 2023-05-31 07306848 bus:Director3 2022-06-01 2023-05-31 07306848 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 07306848 countries:AllCountries 2022-06-01 2023-05-31 07306848 2021-06-01 2022-05-31 07306848 2022-05-31 07306848 core:CurrentFinancialInstruments 2022-05-31 07306848 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 iso4217:GBP xbrli:pure

Registration number: 07306848

Music Music Music Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2023

Pages for Filing with Registrar

 

Music Music Music Limited

(Registration number: 07306848)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Current assets

 

Debtors

5

32,237

32,377

Creditors: Amounts falling due within one year

6

(6,492)

(5,026)

Net assets

 

25,745

27,351

Capital and reserves

 

Called up share capital

1,000

1,000

Share premium reserve

49,950

49,950

Retained earnings

(25,205)

(23,599)

Shareholders' funds

 

25,745

27,351

For the financial year ending 31 May 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 year 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.

Approved and authorised by the Board on 23 April 2024 and signed on its behalf by:
 

.........................................

Mr F Madden
Director

 

Music Music Music Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

The Company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
114 St Martin's Lane
Covent Garden
London
WC2N 4BE
England

Principal activity

The principal activity of the Company is that of a theatre company.

2

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Going concern

The company made a loss in the period and has net current liabilities. The company is dependent on the support from the shareholders to continue as a going concern.

The financial statements have been prepared on a going concern basis that assumes further funding will be obtained.

 

Music Music Music Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Turnover recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

 

Music Music Music Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Significant judgements and estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

4

Staff numbers

The average number of persons employed by the Company (including directors) during the year, was 0 (2022 - 1).

5

Debtors

2023
£

2022
£

Prepayments

182

182

Other debtors

32,055

32,195

32,237

32,377

 

Music Music Music Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Bank loans and overdrafts

8

-

Trade creditors

3,517

2,257

Other creditors

2,967

2,769

6,492

5,026

7

Dividends

There were no dividends paid or proposed in either the current year or the previous year.