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Registered number: 13209910
Whelk Music Limited
Financial Statements
For The Year Ended 29 February 2024
MSE Business Management LLP
Association of Chartered Certified Accountants
1st Floor
104 Oxford Street
London
Greater London
W1D 1LP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13209910
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 926 1,352
926 1,352
CURRENT ASSETS
Debtors 5 124 242
Cash at bank and in hand 47 54
171 296
Creditors: Amounts Falling Due Within One Year 6 (13,361 ) (12,265 )
NET CURRENT ASSETS (LIABILITIES) (13,190 ) (11,969 )
TOTAL ASSETS LESS CURRENT LIABILITIES (12,264 ) (10,617 )
NET LIABILITIES (12,264 ) (10,617 )
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account (12,266 ) (10,619 )
SHAREHOLDERS' FUNDS (12,264) (10,617)
Page 1
Page 2
For the year ending 29 February 2024 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 her 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
Ms Gerardine Coyne
Director
12/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Whelk Music Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13209910 . The registered office is 1st Floor, 104 Oxford Street, London, Greater London, 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. Going Concern Disclosure
The financial statements have been prepared on a going concern basis which assumes the continuing financial support of the director.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% straight line
2.4. 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.
2.5. Taxation
Corporation tax expense represents the sum of the tax currently payable and deferred tax.
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 year was:
2024 2023
Office and administration 1 1
1 1
Page 3
Page 4
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 March 2023 2,213
Additions 170
As at 29 February 2024 2,383
Depreciation
As at 1 March 2023 861
Provided during the period 596
As at 29 February 2024 1,457
Net Book Value
As at 29 February 2024 926
As at 1 March 2023 1,352
5. Debtors
2024 2023
£ £
Due within one year
VAT 124 242
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 1,020
Accruals and deferred income 26 -
Director's loan account 13,335 11,245
13,361 12,265
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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