REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
VINYL MUSIC PRODUCTS LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
VINYL MUSIC PRODUCTS LTD |
VINYL MUSIC PRODUCTS LTD (REGISTERED NUMBER: 11316438) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Chartered Accountants' Report | 1 |
Income Statement | 2 |
Statement of Financial Position | 3 |
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
VINYL MUSIC PRODUCTS LTD |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Vinyl Music Products Ltd for the year ended 31 December 2023 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of Vinyl Music Products Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Vinyl Music Products Ltd and state those matters that we have agreed to state to the director of Vinyl Music Products Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Vinyl Music Products Ltd and its director for our work or for this report. |
It is your duty to ensure that Vinyl Music Products Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Vinyl Music Products Ltd. You consider that Vinyl Music Products 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 financial statements of Vinyl Music Products 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 financial statements. |
AGK Partners |
Chartered Accountants |
1 Kings Avenue |
London |
N21 3NA |
VINYL MUSIC PRODUCTS LTD (REGISTERED NUMBER: 11316438) |
INCOME STATEMENT |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2023 | 2022 |
£ | £ |
TURNOVER |
Depreciation and other amounts written off assets | ( |
) | ( |
) |
Other charges | ( |
) | ( |
) |
Taxation |
LOSS | ( |
) | ( |
) |
VINYL MUSIC PRODUCTS LTD (REGISTERED NUMBER: 11316438) |
STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2023 |
2023 | 2022 |
£ | £ | £ | £ |
FIXED ASSETS |
CURRENT ASSETS |
CREDITORS |
Amounts falling due within one year | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES | ( |
) | ( |
) |
NOTES TO THE FINANCIAL STATEMENTS |
1. | STATUTORY INFORMATION |
Vinyl Music Products Ltd is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparation |
The financial statements have been prepared on a going concern basis as the directors are satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due. |
Cash and cash equivalents |
Cash and cash equivalents consist of cash at bank and in hand, that is readily convertible to a known amount of cash and are subject to insignificant risk of changes in value. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. The intangible asset are development costs with useful economic life of 10 years. |
Turnover |
All revenues arise from the rendering of services. Revenue is measured at the fair value of the consideration received, excluding discounts and VAT. |
Taxation |
Current tax is provided at amounts expected to be paid (or recovered) using tax rates and laws which have been enacted or substantively enacted by the balance sheet date. |
3. | AVERAGE NUMBER OF EMPLOYEES |
The average number of employees during the year was NIL (2022 - NIL ) . |
VINYL MUSIC PRODUCTS LTD (REGISTERED NUMBER: 11316438) |
STATEMENT OF FINANCIAL POSITION - continued |
31 DECEMBER 2023 |
NOTES TO THE FINANCIAL STATEMENTS |
4. | FORMER NAME |
Previously, the company was named Octve Limited from 3 December 2018 to 11 March 2022. |
ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is Songtradr Inc., a company incorporated in United States of America. |
GOING CONCERN |
These financial statements are prepared on a going concern basis because the holding company has undertaken to provide continuing financial support so that the company is able to pay its debts as and when they fall due. |
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. |
The financial statements were approved by the director and authorised for issue on |