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REGISTERED NUMBER: 11412653 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

MUSIC MANIA HOLDINGS LIMITED

MUSIC MANIA HOLDINGS LIMITED (REGISTERED NUMBER: 11412653)

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










Page

Statement of Financial Position 1

Notes to the Financial Statements 2 to 4


MUSIC MANIA HOLDINGS LIMITED (REGISTERED NUMBER: 11412653)

STATEMENT OF FINANCIAL POSITION
31 JULY 2024

31.7.24 31.7.23
Notes £    £   
FIXED ASSETS
Investments 5 100 100
Investment property 6 21,400 44,600
21,500 44,700

CURRENT ASSETS
Debtors 7 760 760
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,260

45,460

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 22,060 45,260
22,260 45,460

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 April 2025 and were signed by:





M N Lloyd - Director


MUSIC MANIA HOLDINGS LIMITED (REGISTERED NUMBER: 11412653)

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


1. STATUTORY INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is c/o Music Mania Ltd, 4-6 Piccadilly Arcade, Hanley, Stoke on Trent, Staffordshire, ST1 1DL.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements are prepared in sterling, which is the functional currency of the entity.

JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reports. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

(a) Critical accounting estimates and assumptions

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

Valuation of investment property
As described in the notes to the financial statements, the investment properties are stated in the balance sheet at fair value, based on the valuation performed by the director. The director is of the opinion that the year-end valuation is not materially different to current market prices observed.

Investment properties have been recognised at fair value by the director and they are of the opinion that there has been no material change since 31 July 2024.

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

INVESTMENT PROPERTY
Investment properly is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

MUSIC MANIA HOLDINGS LIMITED (REGISTERED NUMBER: 11412653)

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


3. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 August 2023
and 31 July 2024 100
NET BOOK VALUE
At 31 July 2024 100
At 31 July 2023 100

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023 44,600
Impairments (23,200 )
At 31 July 2024 21,400
NET BOOK VALUE
At 31 July 2024 21,400
At 31 July 2023 44,600

MUSIC MANIA HOLDINGS LIMITED (REGISTERED NUMBER: 11412653)

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


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Amounts owed by group undertakings 560 560
Other debtors 200 200
760 760

8. RELATED PARTY TRANSACTIONS

Transaction with directors are under normal market conditions and or not material.

9. POST BALANCE SHEET EVENTS

There was no material events up to the date of approval of the financial statements by the board.