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Registered number: 11311350
Cool Thing Music LTD
Financial Statements
For The Year Ended 30 April 2024
MSE Business Management LLP
Association of Chartered Certified Accountants
1st Floor
104 Oxford Street
London
Greater London
W1D 1LP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11311350
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,095 1
2,095 1
CURRENT ASSETS
Debtors 5 15,571 8,001
Cash at bank and in hand 43,257 9,722
58,828 17,723
Creditors: Amounts Falling Due Within One Year 6 (27,699 ) (17,195 )
NET CURRENT ASSETS (LIABILITIES) 31,129 528
TOTAL ASSETS LESS CURRENT LIABILITIES 33,224 529
NET ASSETS 33,224 529
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account 33,222 527
SHAREHOLDERS' FUNDS 33,224 529
Page 1
Page 2
For the year ending 30 April 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 Luke Branch
Director
14/10/2024
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
Cool Thing Music LTD is a private company, limited by shares, incorporated in England & Wales, registered number 11311350 . The registered office is 1st Floor, 104 Oxford Street, London, W1D 1LP.
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 and includes revenue earned from the sale of goods and from the rendering of services:
Rendering of services
Turnover from the rendering of services relates to income received in respect of digital marketing services.
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 20% straight line
Computer Equipment 20% straight line
2.4. Financial Instruments
The company has only basic financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.
Basic financial liabilities
Basic financial liabilities, which include creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transactions.
2.5. Taxation
Corporation tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 2 2
2 2
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 May 2023 377 - 377
Additions - 2,617 2,617
As at 30 April 2024 377 2,617 2,994
Depreciation
As at 1 May 2023 376 - 376
Provided during the period - 523 523
As at 30 April 2024 376 523 899
Net Book Value
As at 30 April 2024 1 2,094 2,095
As at 1 May 2023 1 - 1
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 14,967 6,093
Prepayments and accrued income 604 533
Directors' loan accounts - 1,375
15,571 8,001
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 560 142
Corporation tax 11,790 10,064
Other taxes and social security 1,199 -
VAT 2,761 -
Other creditors 1,934 3,386
Accruals and deferred income 675 1,012
Directors' loan accounts 8,780 2,591
27,699 17,195
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 4