Company registration number 06765328 (England and Wales)
MASTER CHORD RECORDS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
MASTER CHORD RECORDS LIMITED
COMPANY INFORMATION
Director
Mrs S Rainey
Secretary
Mrs S Rainey
Company number
06765328
Registered office
13 Cherrywood
Hernhill
Faversham
Kent
ME13 9HX
Accountants
David Smith & Co.
7 Grosvenor Gardens
Victoria
London
SW1W 0AF
MASTER CHORD RECORDS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2022
Notes
£
£
£
£
Current assets
Debtors
4
2,195
2,000
Cash at bank
121
142
2,316
2,142
Creditors: amounts falling due within one year
5
(3,790)
(3,697)
Net current liabilities
(1,474)
(1,555)
Capital and reserves
Called up share capital
6
10
10
Profit and loss reserves
(1,484)
(1,565)
Total equity
(1,474)
(1,555)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 25 September 2024
Mrs S Rainey
Director
Company Registration No. 06765328
MASTER CHORD RECORDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
Master Chord Records Limited is a private company limited by shares incorporated in England and Wales. The registered office is 13 Cherrywood, Hernhill, Faversham, Kent, ME13 9HX.
The director decided to extend the Accounting period from 31 December 2023 to cover the fifteen months' period to 31 March 2024.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover comprises charges to customers.
1.3
Cash and cash equivalents
Cash and cash equivalents include deposits held at call with banks.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
2022
Number
Number
Total
1
1
MASTER CHORD RECORDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 3 -
4
Debtors
2024
2022
Amounts falling due within one year:
£
£
Other debtors
2,195
2,000
5
Creditors: amounts falling due within one year
2024
2022
£
£
Other creditors
3,790
3,697
6
Called up share capital
2024
2022
2024
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
10
10
10
10
7
Related party transactions
Included within debtors are the amounts of £195 owed by the director (2022 - creditors £27) and £2,000 (2022 - £2,000) due from a company under common control.