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REGISTERED NUMBER: 02761977 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

METRONOME RECORDINGS LIMITED

METRONOME RECORDINGS LIMITED (REGISTERED NUMBER: 02761977)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


METRONOME RECORDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: T H Smithies





REGISTERED OFFICE: Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD





REGISTERED NUMBER: 02761977 (England and Wales)





ACCOUNTANTS: Whitakers
Chartered Accountants
Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD

METRONOME RECORDINGS LIMITED (REGISTERED NUMBER: 02761977)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 4,696

CURRENT ASSETS
Debtors 5 9,850 9,550
Cash at bank and in hand 7,381 1,100
17,231 10,650
CREDITORS
Amounts falling due within one year 6 7,336 10,594
NET CURRENT ASSETS 9,895 56
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,895

4,752

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9,795 4,652
SHAREHOLDERS' FUNDS 9,895 4,752

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 January 2025 and were signed by:





T H Smithies - Director


METRONOME RECORDINGS LIMITED (REGISTERED NUMBER: 02761977)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Metronome Recordings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the amount derived from the provision of goods and services falling within the company's activities after the deduction of trade discounts and value added tax.


Titles
The production costs of recordings met are amortised over a twelve month period from the date of release of the title.


Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

METRONOME RECORDINGS LIMITED (REGISTERED NUMBER: 02761977)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 June 2023
and 31 May 2024 248,212
AMORTISATION
At 1 June 2023 243,516
Amortisation for year 4,696
At 31 May 2024 248,212
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 4,696

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 9,850 9,550

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors - 360
Tax 2,311 222
Directors' current accounts 4,648 9,635
Accrued expenses 377 377
7,336 10,594

7. RELATED PARTY DISCLOSURES

Included in Other Debtors is an inter company loan of £9,850 (2023: £9,550). This loan is between Metronome Recordings Limited and Metronome Distribution Limited. Mr T Smithies is the sole director and shareholder in both companies.

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is T H Smithies.