Company Registration No. 04718317 (England and Wales)
Prevail Music Limited
Unaudited Financial Statements
for the year ended 30 April 2024
Prevail Music Limited
Unaudited Financial Statements
Contents
Prevail Music Limited
Company Information
for the year ended 30 April 2024
Director
Samuel kimuli Kigozi
Secretary
Akino Emmanuel Onifade
Company Number
04718317 (England and Wales)
Registered Office
98 Iron Mill Lane
Dartford
Kent
DA1 4RR
Accountants
Alex & Co
46A Fairlawn Park
Sydenham
London
SE26 5RY
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Prevail Music Limited
for the year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Prevail Music Limited for the year ended
30 April 2024 as set out on pages
5 -
7 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of Prevail Music Limited, as a body, in accordance with the terms of our engagement letter dated 24 January 2024. Our work has been undertaken solely to prepare for your approval the accounts of Prevail Music Limited and state those matters that we have agreed to state to the Board of Directors of Prevail Music Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Prevail Music Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Prevail Music Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Prevail Music Limited. You consider that Prevail Music Limited 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 Prevail Music Limited. 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 accounts.
Alex & Co
Chartered Certified Accountants
46A Fairlawn Park
Sydenham
London
SE26 5RY
30 January 2025
Prevail Music Limited
Statement of financial position
as at 30 April 2024
Cash at bank and in hand
1,351
1,860
Creditors: amounts falling due within one year
(1,159)
(794)
Net current assets
192
6,343
Total assets less current liabilities
193
6,344
Creditors: amounts falling due after more than one year
(31,919)
(37,900)
Net liabilities
(31,726)
(31,556)
Called up share capital
1
1
Profit and loss account
(31,727)
(31,557)
Shareholders' funds
(31,726)
(31,556)
For the year ending 30 April 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 January 2025 and were signed on its behalf by
Samuel kimuli Kigozi
Director
Company Registration No. 04718317
Prevail Music Limited
Notes to the Accounts
for the year ended 30 April 2024
Prevail Music Limited is a private company, limited by shares, registered in England and Wales, registration number 04718317. The registered office is 98 Iron Mill Lane, Dartford, Kent, DA1 4RR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Prevail Music Limited
Notes to the Accounts
for the year ended 30 April 2024
4
Tangible fixed assets
Computer equipment
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
294
294
7
Creditors: amounts falling due after more than one year
2024
2023
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).