Registered Number 14940604

XR MUSICA LTD

Micro-entity Accounts

30 June 2024

XR MUSICA LTD Registered Number 14940604

Micro-entity Balance Sheet as at 30 June 2024

Notes 2024
£
Called up share capital not paid
100
Fixed Assets
2,253
Current Assets
4,189
Prepayments and accrued income
-
Creditors: amounts falling due within one year
0
Net current assets (liabilities)
4,189
Total assets less current liabilities
6,542
Creditors: amounts falling due after more than one year
0
Provisions for liabilities
0
Accruals and deferred income
0
Total net assets (liabilities)
6,542
Capital and reserves
6,542
  • For the year ending 30 June 2024 the company was entitled to exemption 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
  • The accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 17 January 2025

And signed on their behalf by:
Dr Christos Ioannou, Director

XR MUSICA LTD Registered Number 14940604

Notes to the Micro-entity Accounts for the period ended 30 June 2024

1Employees
2024
Average number of employees during the period 0
2Off balance sheet arrangements
Footnote: Research & Development (R&D) Activities
1. Basis of Preparation
These financial statements have been prepared in accordance with the provisions applicable to micro-entities under Section 396(3) and Part 15 of the Companies Act 2006 and in compliance with FRS 105: The Financial Reporting Standard applicable to the Micro-Entities Regime.

2. Research & Development Activities
Under Section 836 of the Companies Act 2006, XR MUSICA LTD is classified as a micro-entity engaged in research and development (R&D). The company is developing an eXtended Reality (XR) digital music technology intervention designed to support mental health in neurodiverse individuals, particularly children with autism.

The company’s research focuses on integrating digital music therapy with XR technologies to improve engagement and therapeutic outcomes for neurodiverse children. The research forms the foundation for future clinical applications and potential commercialisation.

3. Government Grant & Financial Performance
During the financial year, the company was awarded a research grant from the National Institute for Health Research (NIHR) to support its R&D activities. The total grant awarded was £10,000, of which £6541.90 was utilised within the financial period for eligible research-related expenses. The remaining £3458.10 is recognised as deferred income and will be utilised in subsequent periods to continue research efforts.

As a research-focused entity, XR MUSICA LTD did not generate any revenue or make a profit during this period. The company remains committed to advancing its R&D initiatives in alignment with its mission to improve mental health care for neurodiverse individuals.