Registered number
13791231
MONKFISH MUSIC LTD
Filleted Accounts
31 December 2023
MONKFISH MUSIC LTD
Registered number: 13791231
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 65 90
Current assets
Cash at bank and in hand 99,508 73,740
Creditors: amounts falling due within one year 4 (43,345) (27,013)
Net current assets 56,163 46,727
Net assets 56,228 46,817
Capital and reserves
Called up share capital 2 2
Profit and loss account 56,226 46,815
Shareholders' funds 56,228 46,817
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Joss Peach
Director
Approved by the board on 16 August 2024
MONKFISH MUSIC LTD
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Instruments & Equipment 25% reducing balance
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Instruments & Equipment
£
Cost
At 1 January 2023 120
At 31 December 2023 120
Depreciation
At 1 January 2023 30
Charge for the year 25
At 31 December 2023 55
Net book value
At 31 December 2023 65
At 31 December 2022 90
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 108 -
Taxation and social security costs 42,077 25,671
Directors' Loan Account 142 368
Other creditors 1,018 974
43,345 27,013
5 Other information
MONKFISH MUSIC LTD is a private company limited by shares and incorporated in England. Its registered office is:
13 Hollycraft
East Chiltington
Lewes
East Sussex
BN7 3AZ
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