REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
AUTOMATIC SONGS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
AUTOMATIC SONGS LIMITED |
AUTOMATIC SONGS LIMITED (REGISTERED NUMBER: 03229865) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 July 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
AUTOMATIC SONGS LIMITED |
COMPANY INFORMATION |
for the year ended 31 July 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
19-20 Bourne Court |
Southend Road |
Woodford Green |
Essex |
IG8 8HD |
AUTOMATIC SONGS LIMITED (REGISTERED NUMBER: 03229865) |
ABRIDGED BALANCE SHEET |
31 July 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
AUTOMATIC SONGS LIMITED (REGISTERED NUMBER: 03229865) |
ABRIDGED BALANCE SHEET - continued |
31 July 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
AUTOMATIC SONGS LIMITED (REGISTERED NUMBER: 03229865) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 July 2024 |
1. | STATUTORY INFORMATION |
Automatic Songs Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents gross invoiced sales of goods. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Short term debtors and creditors |
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account. |
Intangible assets |
Intangible assets are composed of cryptocurrencies held by the company. |
Cryptocurrencies are classified as intangible assets in accordance with FRS 102, Section 18. They are initially recognized at cost, which includes the purchase price and any directly attributable costs. |
Cryptocurrencies are subsequently measured using the cost model. Under this model, cryptocurrencies are carried at cost less any accumulated amortization and impairment losses. If there is an active market for the cryptocurrency, the revaluation model may be applied, where the asset is revalued to its fair value at each reporting date, with changes in value recognized in other comprehensive income. |
Cryptocurrencies are tested for impairment annually or whenever there is an indication that the asset might be impaired. Any impairment losses are recognized in the profit and loss account. |
The company discloses the accounting policies adopted for cryptocurrencies, including the basis of measurement and any significant judgments made in applying these policies. Additionally, the carrying amount of cryptocurrencies and any revaluation or impairment losses recognized during the period are disclosed. |
AUTOMATIC SONGS LIMITED (REGISTERED NUMBER: 03229865) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 July 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
Additions |
Impairments | (379 | ) |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
5. | RELATED PARTY DISCLOSURES |
At the balance sheet date, the company owed £638 (2023 : £326) to the director. |