Registered number
SC664445
Rock the Boat Music Group Ltd
Filleted Accounts
30 June 2024
Rock the Boat Music Group Ltd
Registered number: SC664445
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 30,000 23,000
Cash at bank and in hand 816 1,067
30,816 24,067
Creditors: amounts falling due within one year 4 (2,432) (661)
Net current assets 28,384 23,406
Total assets less current liabilities 28,384 23,406
Creditors: amounts falling due after more than one year 5 (28,782) (32,026)
Net liabilities (398) (8,620)
Capital and reserves
Profit and loss account (398) (8,620)
Shareholders' funds (398) (8,620)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
L Meacock
Director
Approved by the board on 20 March 2025
Rock the Boat Music Group Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services and is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on at the following annual rates on all tangible fixed assets, other than freehold land, as follows:
Plant and machinery 15% on a Reducing Balance basis
Motor Vehicles 25% on a Reducing Balance basis
Fixtures, fittings, tools and equipment 15% on a Reducing Balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax asset is recognised in respect of a tax loss that can be carried forwards to later periods.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Debtors 2024 2023
£ £
Artist Advances 20,000 20,000
Other debtors 10,000 3,000
30,000 23,000
4 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax 1,772 -
Other creditors 660 661
2,432 661
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 8,810 10,000
Director's Account L Meacock (1,183) 1
Trade creditors 21,155 22,025
28,782 32,026
6 Other information
Rock the Boat Music Group Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
1 Victoria Road
Kirkcaldy
Fife
KY1 1DT
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