Acorah Software Products - Accounts Production 14.5.601 false true false 1 November 2022 30 November 2023 30 November 2023 14455752 Mr Thor Sutherland iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14455752 2022-10-31 14455752 2023-11-30 14455752 2022-11-01 2023-11-30 14455752 frs-core:CurrentFinancialInstruments 2023-11-30 14455752 frs-core:ShareCapital 2023-11-30 14455752 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 14455752 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-11-30 14455752 frs-bus:FilletedAccounts 2022-11-01 2023-11-30 14455752 frs-bus:SmallEntities 2022-11-01 2023-11-30 14455752 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-11-30 14455752 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-11-30 14455752 frs-bus:Director1 2022-11-01 2023-11-30 14455752 frs-countries:EnglandWales 2022-11-01 2023-11-30
Registered number: 14455752
Way Out Music Limited
Financial Statements
For the Period 1 November 2022 to 30 November 2023
MSE Business Management LLP
Association of Chartered Certified Accountants
1st Floor
104 Oxford Street
London
Greater London
W1D 1LP
Financial Statements
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 14455752
30 November 2023
Notes £ £
CURRENT ASSETS
Debtors 4 49,910
Cash at bank and in hand 1,796
51,706
Creditors: Amounts Falling Due Within One Year 5 (39,611 )
NET CURRENT ASSETS (LIABILITIES) 12,095
TOTAL ASSETS LESS CURRENT LIABILITIES 12,095
NET ASSETS 12,095
CAPITAL AND RESERVES
Called up share capital 6 1
Profit and Loss Account 12,094
SHAREHOLDERS' FUNDS 12,095
For the period ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Thor Sutherland
Director
31/07/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Way Out Music Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14455752 . The registered office is 1st Floor, 104 Oxford Street, London, England, W1D 1LP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of Value Added Tax. Turnover includes commissions and consultancy fees receivable from the rendering of services.
2.3. Financial Instruments
The company has only basic 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.
Basic financial liabilities
Basic financial liabilities, which include creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transactions.
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Corporation tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 1
1
4. Debtors
30 November 2023
£
Due within one year
Trade debtors 36,858
Prepayments and accrued income 13,000
VAT 52
49,910
Page 2
Page 3
5. Creditors: Amounts Falling Due Within One Year
30 November 2023
£
Trade creditors 15,364
Corporation tax 3,290
Other creditors 17,500
Director's loan account 3,457
39,611
6. Share Capital
30 November 2023
£
Allotted, Called up and fully paid 1
Page 3