Acorah Software Products - Accounts Production 15.0.600 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 12488313 Mr Paul Copestake Mrs Danielle Lancaster iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12488313 2023-02-28 12488313 2024-02-29 12488313 2023-03-01 2024-02-29 12488313 frs-core:FurnitureFittings 2024-02-29 12488313 frs-core:FurnitureFittings 2023-03-01 2024-02-29 12488313 frs-core:FurnitureFittings 2023-02-28 12488313 frs-core:PlantMachinery 2024-02-29 12488313 frs-core:PlantMachinery 2023-03-01 2024-02-29 12488313 frs-core:PlantMachinery 2023-02-28 12488313 frs-core:ShareCapital 2024-02-29 12488313 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 12488313 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 12488313 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 12488313 frs-bus:SmallEntities 2023-03-01 2024-02-29 12488313 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 12488313 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 12488313 frs-bus:OrdinaryShareClass1 2023-03-01 2024-02-29 12488313 frs-bus:OrdinaryShareClass1 2024-02-29 12488313 frs-bus:OrdinaryShareClass2 2023-03-01 2024-02-29 12488313 frs-bus:OrdinaryShareClass2 2024-02-29 12488313 frs-bus:Director1 2023-03-01 2024-02-29 12488313 frs-bus:Director2 2023-03-01 2024-02-29 12488313 frs-countries:EnglandWales 2023-03-01 2024-02-29 12488313 2022-02-28 12488313 2023-02-28 12488313 2022-03-01 2023-02-28 12488313 frs-core:ShareCapital 2023-02-28 12488313 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 12488313 frs-bus:OrdinaryShareClass1 2022-03-01 2023-02-28 12488313 frs-bus:OrdinaryShareClass2 2022-03-01 2023-02-28
Registered number: 12488313
Music Man Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12488313
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 15,291 21,672
15,291 21,672
CURRENT ASSETS
Cash at bank and in hand 10,707 4,020
10,707 4,020
Creditors: Amounts Falling Due Within One Year 6 (11,363 ) (18,451 )
NET CURRENT ASSETS (LIABILITIES) (656 ) (14,431 )
TOTAL ASSETS LESS CURRENT LIABILITIES 14,635 7,241
NET ASSETS 14,635 7,241
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 14,535 7,141
SHAREHOLDERS' FUNDS 14,635 7,241
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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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
Mr Paul Copestake
Director
5 July 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
Music Man Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12488313 . The registered office is 10 Gardner Road, Prestwich, Manchester, M25 3HS.
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. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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 33% Straight line
Fixtures & Fittings 20% Straight line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 March 2023 29,794 728 30,522
Additions 3,188 527 3,715
As at 29 February 2024 32,982 1,255 34,237
Depreciation
As at 1 March 2023 8,565 285 8,850
Provided during the period 9,938 158 10,096
As at 29 February 2024 18,503 443 18,946
Net Book Value
As at 29 February 2024 14,479 812 15,291
As at 1 March 2023 21,229 443 21,672
Page 3
Page 4
5. Debtors
2024 2023
£ £
Due within one year
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 11,363 18,451
7. Share Capital
2024 2023
Allotted, called up and fully paid £ £
50 Ordinary Shares of £ 1.00 each 50 50
50 Ordinary A shares of £ 1.00 each 50 50
100 100
8. Related Party Transactions
The total of remuneration and dividends paid to directors is considered to be a normal market rate for the work that they do for the company and the profits that this work generates.
For a small limited company it is considered normal market practice for directors who are also shareholders to take their income from the company as a mixture of remuneration and dividends.
It is therefore not considered necessary to disclose these transactions in the financial statements as Related Party Transactions, on the basis that they have been concluded under normal market conditions.
Page 4