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Registered Number: 03852279


 

 

 

MUSIC BUSINESS ASSOCIATES LTD


Abridged Accounts
 


Period of accounts

Start date: 01 November 2023

End date: 31 October 2024
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Music Business Associates Ltd for the year ended 31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Music Business Associates Ltd for the year ended 31 October 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance

This report is made solely to the Board of Directors of Music Business Associates Ltd , as a body, in accordance with the terms of our engagement letter dated 05 November 2024. Our work has been undertaken solely to prepare for your approval the accounts of Music Business Associates Ltd and state those matters that we have agreed to state to the Board of Directors of Music Business Associates Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Music Business Associates Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Music Business Associates Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Music Business Associates Ltd . You consider that Music Business Associates Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Music Business Associates Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts31 October 2024



....................................................
Bevis & Co
Bevis & Co

38 College Road
Epsom
KT17 4HJ
05 November 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 250,000    250,000 
250,000    250,000 
Current assets      
Stocks 4,500   
Debtors 31,462    58,044 
Cash at bank and in hand (15,382)   (21,730)
20,580    36,314 
Creditors: amount falling due within one year (229,074)   (252,229)
Net current assets (208,494)   (215,915)
 
Total assets less current liabilities 41,506    34,085 
Net assets 41,506    34,085 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 41,406    33,985 
Shareholders' funds 41,506    34,085 
 


For the year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 05 November 2024 and were signed by:


-------------------------------
Christopher John Bevis
Director
2
General Information
Music Business Associates Ltd is a private company, limited by shares, registered in , registration number 03852279, registration address Music Business Associates Ltd , 38 College Road, Epsom, Surrey, KT17 4HJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Straight Line
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 November 2023 250,000    250,000 
Additions  
Disposals  
At 31 October 2024 250,000    250,000 
Net book values
At 31 October 2024 250,000    250,000 
At 31 October 2023 250,000    250,000 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 November 2023 13,513    13,513 
Additions  
Disposals  
At 31 October 2024 13,513    13,513 
Depreciation
At 01 November 2023 13,513    13,513 
Charge for year  
On disposals  
At 31 October 2024 13,513    13,513 
Net book values
Closing balance as at 31 October 2024  
Opening balance as at 01 November 2023  


3