MUSICAL YOUTH MERSEYSIDE LIMITED

Registered number

04836599

Unaudited Filleted Accounts

31 July 2024

MUSICAL YOUTH MERSEYSIDE LIMITED
Registered number:		04836599
Balance Sheet
as at 31 July 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	4		3,965			3,943

Current assets
Cash at bank and in hand		9,934			7,475

Creditors: amounts falling due within one year	5	(5,377)			(3,147)

Net current assets			4,557			4,328

Total assets less current liabilities			8,522			8,271

Creditors: amounts falling due after more than one year	6		(1,667)			(3,667)



Net assets			6,855			4,604

Capital and reserves
Called up share capital			1			1
Profit and loss account			6,854			4,603

Shareholders' funds			6,855			4,604

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.




Andrew Pickering
Director
Approved by the board on 7 April 2025

MUSICAL YOUTH MERSEYSIDE LIMITED
Notes to the Accounts
for the year ended 31 July 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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Leasehold improvements	over four years
	Fixtures, fittings, tools and equipment	15% reducing balance

	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 liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Employees			2024		2023
Number					Number

	Average number of persons employed by the company			1		1


3	Intangible fixed assets					£	£
	Goodwill:

	Cost
	At 1 August 2023					7,500	7,500
	At 31 July 2024					7,500	7,500

	Amortisation
	At 1 August 2023					7,500	7,500
	At 31 July 2024					7,500	7,500

	Net book value
	At 31 July 2024					-	-

	Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.


4	Tangible fixed assets
		Improvements to Freehold		Plant and machinery etc		Total	Total
£			£		£		£
	Cost
	At 1 August 2023	1,245		35,399		36,644	36,644
	At 31 July 2024	1,245		36,376		37,621	37,621

	Depreciation
	At 1 August 2023	622		32,079		32,701	32,701
	Charge for the year	311		644		955	955
	At 31 July 2024	933		32,723		33,656	33,656

	Net book value
	At 31 July 2024	312		3,653		3,965	3,965
	At 31 July 2023	623		3,320		3,943	3,943


5	Creditors: amounts falling due within one year			2024		2023
£					£

	Bank loans and overdrafts			2,000		2,000
	Taxation and social security costs			641		1,010
	Other creditors			2,736		137
				5,377		3,147


6	Creditors: amounts falling due after one year			2024		2023
£					£

	Bank loans			1,667		3,667


7	Other information

	MUSICAL YOUTH MERSEYSIDE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
	300 St. Marys Road
	Garston
	Liverpool
	Merseyside
	L19 0NQ