Company Registration No. SC391445 (Scotland)
Music For Scotland Limited
Unaudited accounts
for the year ended 31 March 2024
Music For Scotland Limited
Unaudited accounts
Contents
Music For Scotland Limited
Company Information
for the year ended 31 March 2024
Directors
Mr R Lyon
Mr S Cochrane
Company Number
SC391445 (Scotland)
Registered Office
9-10 St. Andrew Square
Edinburgh
EH2 2AF
Accountants
GF Accountancy Services Ltd
4 Rowanhill Way
Port Seton
East Lothian
EH32 0SZ
Music For Scotland Limited
Statement of financial position
as at 31 March 2024
Tangible assets
12,434
8,970
Cash at bank and in hand
36,558
50,296
Creditors: amounts falling due within one year
(21,261)
(26,688)
Net current assets
15,297
23,608
Total assets less current liabilities
27,731
32,578
Provisions for liabilities
Deferred tax
(2,362)
(1,704)
Called up share capital
100
100
Profit and loss account
25,269
30,774
Shareholders' funds
25,369
30,874
For the year ending 31 March 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by
Mr S Cochrane
Director
Company Registration No. SC391445
Music For Scotland Limited
Notes to the Accounts
for the year ended 31 March 2024
Music For Scotland Limited is a private company, limited by shares, registered in Scotland, registration number SC391445. The registered office is 9-10 St. Andrew Square, Edinburgh, EH2 2AF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
20% Straight Line
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% & 33% Straight line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Music For Scotland Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Intangible fixed assets
Total
5
Tangible fixed assets
Total
6
Transactions with related parties
The company was under the common control of Mr Steve Cochrane, Mr Richard Lyon and Miss Mary Steadman throughout the current period. Mr Steve Cochrane is a 50% shareholder and Mr Richard Lyon and Miss Mary Steadman are 25% shareholders. Mr Steve Cochrane and Mr Richard Lyon are managing directors.
There were no transactions with related parties during this period.
7
Average number of employees
During the year the average number of employees was 0 (2023: 0).