Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31true12023-01-01falseNo description of principal activity1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10522928 2023-01-01 2023-12-31 10522928 2022-01-01 2022-12-31 10522928 2023-12-31 10522928 2022-12-31 10522928 c:Director1 2023-01-01 2023-12-31 10522928 d:OfficeEquipment 2023-01-01 2023-12-31 10522928 d:OfficeEquipment 2023-12-31 10522928 d:OfficeEquipment 2022-12-31 10522928 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10522928 d:CurrentFinancialInstruments 2023-12-31 10522928 d:CurrentFinancialInstruments 2022-12-31 10522928 d:Non-currentFinancialInstruments 2023-12-31 10522928 d:Non-currentFinancialInstruments 2022-12-31 10522928 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10522928 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10522928 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 10522928 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 10522928 d:ShareCapital 2023-12-31 10522928 d:ShareCapital 2022-12-31 10522928 d:RetainedEarningsAccumulatedLosses 2023-12-31 10522928 d:RetainedEarningsAccumulatedLosses 2022-12-31 10522928 c:FRS102 2023-01-01 2023-12-31 10522928 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10522928 c:FullAccounts 2023-01-01 2023-12-31 10522928 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10522928 2 2023-01-01 2023-12-31 10522928 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 10522928









MJT MUSIC LTD








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
MJT MUSIC LTD
REGISTERED NUMBER: 10522928

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,383
769

  
3,383
769

Current assets
  

Debtors: amounts falling due within one year
 5 
49,369
79,897

Cash at bank and in hand
 6 
90,894
38,900

  
140,263
118,797

Creditors: amounts falling due within one year
 7 
(40,736)
(39,012)

Net current assets
  
 
 
99,527
 
 
79,785

Total assets less current liabilities
  
102,910
80,554

Creditors: amounts falling due after more than one year
 8 
(16,871)
(22,038)

  

Net assets
  
86,039
58,516


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
  
86,029
58,506

  
86,039
58,516


Page 1

 
MJT MUSIC LTD
REGISTERED NUMBER: 10522928
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers 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 director acknowledges his 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: 




................................................
M Terry
Director

Date: 25 September 2024

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

Page 2

 
MJT MUSIC LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

MJT Music Ltd is a private company limited by shares. The company is incorporated in England and Wales and the address of the registered office is Aston House, Cornwall Avenue, London, N3 1LF. The registered number is 10522928.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
MJT MUSIC LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

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 balance sheet date in the countries where the Company operates and generates income.

 
2.8

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25%
reducing balance

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.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
MJT MUSIC LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

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 1 (2022 - 1).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 January 2023
1,465


Additions
3,332



At 31 December 2023

4,797



Depreciation


At 1 January 2023
696


Charge for the year on owned assets
718



At 31 December 2023

1,414



Net book value



At 31 December 2023
3,383



At 31 December 2022
769

Page 5

 
MJT MUSIC LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
15,084
32,329

Other debtors
34,285
47,568

49,369
79,897



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
90,894
38,900



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
8,545
12,667

Trade creditors
-
1,146

Corporation tax
18,250
11,102

Other taxation and social security
13,941
13,001

Accruals
-
1,096

40,736
39,012



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
16,871
22,038


 
Page 6