for the Period Ended 31 December 2024
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 December 2024
Political and charitable donations
Directors
The director shown below has held office during the whole of the period from
1 January 2024
to
31 December 2024
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
2024 | 2023 | |
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Turnover: |
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Cost of sales: |
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Gross profit(or loss): |
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Administrative expenses: |
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Other operating income: |
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Operating profit(or loss): |
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Profit(or loss) before tax: |
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Profit(or loss) for the financial year: |
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As at
Notes | 2024 | 2023 | |
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Current assets | |||
Cash at bank and in hand: |
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Net current assets (liabilities): |
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Total assets less current liabilities: |
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Creditors: amounts falling due after more than one year: | 3 |
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Total net assets (liabilities): |
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Members' funds | |||
Profit and loss account: |
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Total members' funds: |
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The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 December 2024
Basis of measurement and preparation
for the Period Ended 31 December 2024
2024 | 2023 | |
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Average number of employees during the period |
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for the Period Ended 31 December 2024
2024 | 2023 | |
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£ | £ | |
Other creditors |
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Total |
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The company (MM) was largely inactive in 2024 in relation to its primary activity of serving as an online music platform through which musicians can upload, sell and distribute their music while also donating a portion of their income from sales to a charitable fund of their choice. Following an initial 'pilot' phase which ran through 2023, MM made the decision to temporarily take the platform offline in order to implement a series of enhancements and new features influenced primarily by feedback given by our users and charitable stakeholders. These include, for example, the ability upload higher-quality audio files, a more streamlined system for making donations and improved overall website performance. Throughout 2024, MM has been working to redesign our core platform utilising technologies that will deliver on this feedback. We anticipate launching a new version of the platform in 2025. While our core platform has been out of service in 2024, we have continued our engagement with the music and charitable communities and have continued to support them through on-going communications and messaging through our social media channels. For example, in December 2024, we engaged our network of musicians to help fundraise for our beneficiary charity organisations in support of the annual 'Big Give.' In this way, we have continued to work on delivering our overall mission of enabling a collaboration between 'the arts' and charitable organisations and causes.
The company's key stakeholders are the music community and charitable organisations - specifically those that have joined our platform as a beneficiary. Throughout 2024, we have engaged with a group of our platform's key user groups including individuals from both communities. They have provided invaluable feedback in relation to the goals of our platform and we are now actively working that feedback into how we are redesigning in to relaunch in 2025. Additionally, while our core service has been inactive through 2024, we have actively sought to work with our charitable beneficiaries to support them in relation to fundraising events by sharing their content through the company's social media channels. We have done the same to support the musicians who signed up to use our platform in 2023 and proactively continued promoting their work on our own channels while we work behind the scenes to redevelop our core platform.
No remuneration was received
No transfer of assets other than for full consideration
This report was approved by the board of directors on
28 January 2025
And signed on behalf of the board by:
Name: Toby Michael Wilson
Status: Director