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COMPANY REGISTRATION NUMBER: 13718849
Musiknology Limited
Filleted Unaudited Financial Statements
30 November 2023
Musiknology Limited
Financial Statements
Year Ended 30th November 2023
Contents
Page
Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements
1
Statement of Financial Position
2
Notes to the Financial Statements
3
Musiknology Limited
Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Musiknology Limited
Year Ended 30th November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Musiknology Limited for the year ended 30th November 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the Board of Directors of Musiknology Limited, as a body, in accordance with the terms of our engagement letter dated 2nd November 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Musiknology Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Musiknology Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Musiknology Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Musiknology Limited. You consider that Musiknology Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Musiknology Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
MJ GREEN ACCOUNTANCY SERVICES LTD Chartered Certified Accountants
Unit 10 Silver End Business Park Brettell Lane Brierley Hill West Midlands DY5 3LG
22 July 2024
Musiknology Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
Current Assets
Cash at bank and in hand
370
790
Creditors: amounts falling due within one year
5
422
502
----
----
Net Current (Liabilities)/Assets
( 52)
288
----
----
Total Assets Less Current Liabilities
( 52)
288
----
----
Net (Liabilities)/Assets
( 52)
288
----
----
Capital and Reserves
Called up share capital
100
100
Profit and loss account
( 152)
188
----
----
Shareholders (Deficit)/Funds
( 52)
288
----
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30th November 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 22 July 2024 , and are signed on behalf of the board by:
J Adkins
S Beresford
Director
Director
Company registration number: 13718849
Musiknology Limited
Notes to the Financial Statements
Year Ended 30th November 2023
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 10 Silver End Business Park, Brettell Lane, Brierley Hill, West Midlands, DY5 3LG.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
2
82
Other creditors
420
420
----
----
422
502
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----