Company registration number 08862628 (England and Wales)
MUSICAL ODYSSEY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
MUSICAL ODYSSEY LIMITED
COMPANY INFORMATION
Director
Ms Y Lebedeva
Company number
08862628
Registered office
66  Mannock  Road
Wood  Green
London
N22 6AA
Accountants
David Smith & Co
7 Grosvenor Gardens
Victoria
London
SW1W 0AF
MUSICAL ODYSSEY LIMITED
BALANCE SHEET
AS AT 31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
263
351
Current assets
Cash at bank and in hand
6,415
11,529
Creditors: amounts falling due within one year
5
(17,366)
(16,914)
Net current liabilities
(10,951)
(5,385)
Net liabilities
(10,688)
(5,034)
Capital and reserves
Called up share capital
7
1,000
1,000
Profit and loss reserves
(11,688)
(6,034)
Total equity
(10,688)
(5,034)

For the financial year ended 31 January 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 of its financial statements for the year in question in accordance with section 476.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 16 October 2024
Ms Y Lebedeva
Director
Company registration number 08862628 (England and Wales)
MUSICAL ODYSSEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -
1
Accounting policies
Company information

Musical Odyssey Limited is a private company limited by shares incorporated in England and Wales. The registered office is 66 Mannock Road, Wood Green, London, N22 6AA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable from students for the masterclasses, sponsorship and other musical projects.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets over their useful lives on the following bases:

Plant and machinery
25% of written down value
Computer equipment
one-third of cost per annum
1.4
Cash at bank and in hand

Cash and cash equivalents are deposits held at call with banks.

1.5

Sponsorships

Sponsorships are credited to deferred income, Sponsorships towards students' fees are released to the Profit and Loss Account as the related expenditure is incurred,

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

MUSICAL ODYSSEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 and 31 January 2024
2,135
Depreciation and impairment
At 1 February 2023
1,784
Depreciation charged in the year
88
At 31 January 2024
1,872
Carrying amount
At 31 January 2024
263
At 31 January 2023
351
5
Creditors: amounts falling due within one year
2024
2023
£
£
Deferred income
11,464
13,172
Other creditors
5,902
3,742
17,366
16,914
6
Deferred income
2024
2023
£
£
Balance at 1 February 2022
13,172
17,168
Sponsorship monies received
2,000
2,400
Sponsorship monies used
(3,708)
(6,396)
Balance at 31 January 2023
11,464
13,172
MUSICAL ODYSSEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000
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