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
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
The Music Store Limited
Statement of financial position
as at 29 December 2023
Intangible assets
86,070
105,870
Cash at bank and in hand
308,570
191,099
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)
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
The Music Store Limited
Notes to the Accounts
for the year ended 29 December 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 (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 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)
The Music Store Limited
Notes to the Accounts
for the year ended 29 December 2023
4
Intangible fixed assets
Goodwill
Other
Total
At 30 December 2022
151,794
51,000
202,794
At 29 December 2023
151,794
51,000
202,794
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
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
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
At 29 December 2023
(126)
1,109
983
At 29 December 2022
1,549
1,109
2,658
Amounts falling due after more than one year
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
1,864
1,100
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
-
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
Loans from directors
-
6,000
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
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loans repayable to Director
12,000
23,539
-
35,539
11
Average number of employees
During the year the average number of employees was 8 (2022: 8).