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REGISTERED NUMBER: SC257155 (Scotland)















RAGE MUSIC LTD.

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023






RAGE MUSIC LTD. (REGISTERED NUMBER: SC257155)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RAGE MUSIC LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTOR: C P Leonard-Morgan





SECRETARY: A Leonard-Morgan





REGISTERED OFFICE: 63 Woodside Terrace Lane
Glasgow
G3 7YW





REGISTERED NUMBER: SC257155 (Scotland)





ACCOUNTANTS: JRD Partnership Ltd
Chartered Accountants
11 Portland Road
Kilmarnock
Ayrshire
KA1 2BT

RAGE MUSIC LTD. (REGISTERED NUMBER: SC257155)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 6,616 8,828
6,616 8,828

CURRENT ASSETS
Debtors 6 2,937 2,937
Cash at bank 598,467 905,317
601,404 908,254
CREDITORS
Amounts falling due within one year 7 135,132 178,233
NET CURRENT ASSETS 466,272 730,021
TOTAL ASSETS LESS CURRENT
LIABILITIES

472,888

738,849

PROVISIONS FOR LIABILITIES 1,333 1,457
NET ASSETS 471,555 737,392

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 471,553 737,390
SHAREHOLDERS' FUNDS 471,555 737,392

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

RAGE MUSIC LTD. (REGISTERED NUMBER: SC257155)

BALANCE SHEET - continued
31ST DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10th April 2024 and were signed by:





C P Leonard-Morgan - Director


RAGE MUSIC LTD. (REGISTERED NUMBER: SC257155)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. STATUTORY INFORMATION

Rage Music Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales from the production and publishing of music, except in respect of service contracts where turnover is recognised when the company receives the right to consideration.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, was being amortised evenly over it's estimated useful life of fifteen years. The goodwill was fully amortised in 2018.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

RAGE MUSIC LTD. (REGISTERED NUMBER: SC257155)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2023
and 31st December 2023 450,000
AMORTISATION
At 1st January 2023
and 31st December 2023 450,000
NET BOOK VALUE
At 31st December 2023 -
At 31st December 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2023
and 31st December 2023 203,754
DEPRECIATION
At 1st January 2023 194,926
Charge for year 2,212
At 31st December 2023 197,138
NET BOOK VALUE
At 31st December 2023 6,616
At 31st December 2022 8,828

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 2,937 2,937

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 134,217 177,414
Other creditors 915 819
135,132 178,233

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C P Leonard-Morgan, who owns 100% of the issued share capital.