Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-07-01falseNo description of principal activity22truetrue 05160348 2023-07-01 2024-06-30 05160348 2024-06-30 05160348 2022-07-01 2023-06-30 05160348 2023-06-30 05160348 c:CompanySecretary1 2023-07-01 2024-06-30 05160348 c:Director1 2023-07-01 2024-06-30 05160348 c:Director2 2023-07-01 2024-06-30 05160348 c:RegisteredOffice 2023-07-01 2024-06-30 05160348 d:OfficeEquipment 2023-07-01 2024-06-30 05160348 d:OfficeEquipment 2024-06-30 05160348 d:OfficeEquipment 2023-06-30 05160348 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 05160348 d:CurrentFinancialInstruments 2024-06-30 05160348 d:CurrentFinancialInstruments 2023-06-30 05160348 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 05160348 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 05160348 d:ShareCapital 2024-06-30 05160348 d:ShareCapital 2023-06-30 05160348 d:CapitalRedemptionReserve 2024-06-30 05160348 d:CapitalRedemptionReserve 2023-06-30 05160348 d:RetainedEarningsAccumulatedLosses 2024-06-30 05160348 d:RetainedEarningsAccumulatedLosses 2023-06-30 05160348 c:FRS102 2023-07-01 2024-06-30 05160348 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 05160348 c:FullAccounts 2023-07-01 2024-06-30 05160348 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 05160348 6 2023-07-01 2024-06-30 05160348 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure
Company registration number: 05160348







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2024


THE HIT MUSIC COMPANY LIMITED






































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THE HIT MUSIC COMPANY LIMITED
 


 
COMPANY INFORMATION


Directors
C K C Selwood 
S L Selwood 




Company secretary
C K C Selwood



Registered number
05160348



Registered office
Suite A, 1st Floor
Midas House

62 Goldsworth Road

Woking

Surrey

GU21 6LQ




Accountants
Menzies LLP
Chartered Accountants

1st Floor

Midas House

62 Goldsworth Road

Woking

Surrey

GU21 6LQ





 


THE HIT MUSIC COMPANY LIMITED
 



CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6

 


THE HIT MUSIC COMPANY LIMITED
REGISTERED NUMBER:05160348



STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
369

  
-
369

Current assets
  

Debtors: amounts falling due within one year
 5 
57,259
7,981

Current asset investments
 6 
122,331
108,983

Cash at bank and in hand
  
29,245
23,806

  
208,835
140,770

Creditors: amounts falling due within one year
 7 
(74,504)
(36,355)

Net current assets
  
 
 
134,331
 
 
104,415

Total assets less current liabilities
  
134,331
104,784

  

Net assets
  
134,331
104,784


Capital and reserves
  

Called up share capital 
  
1
1

Capital redemption reserve
  
1
1

Profit and loss account
  
134,329
104,782

  
134,331
104,784

Page 1

 


THE HIT MUSIC COMPANY LIMITED
REGISTERED NUMBER:05160348


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
C K C Selwood
Director

Date: 19 September 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 


THE HIT MUSIC COMPANY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

The Hit Music Company Limited is a private Company limited by shares incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is shown on the company information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Revenue

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Page 3

 


THE HIT MUSIC COMPANY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
Over 3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Valuation of investments

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 -2).

Page 4

 


THE HIT MUSIC COMPANY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 July 2023
1,208



At 30 June 2024

1,208



Depreciation


At 1 July 2023
839


Charge for the year on owned assets
369



At 30 June 2024

1,208



Net book value



At 30 June 2024
-



At 30 June 2023
369


5.


Debtors

2024
2023
£
£


Trade debtors
57,259
6,250

Other debtors
-
1,731

57,259
7,981



6.


Current asset investments

2024
2023
£
£

Listed investments
122,331
108,983

122,331
108,983


Page 5

 


THE HIT MUSIC COMPANY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
24,272
-

Corporation tax
18,756
-

Other taxation and social security
1,447
1,015

Other creditors
26,979
32,490

Accruals and deferred income
3,050
2,850

74,504
36,355



8.


Related party transactions

An amount of £1,040 was due to the directors at the year end  (2023 - £1,040). No interest has been applied on this balance.

 
Page 6