Company registration number 4721023 (England and Wales)
REEF MUSIC LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
REEF MUSIC LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
28
37
Current assets
Debtors
4
578
928
Cash at bank and in hand
5,336
5,650
5,914
6,578
Creditors: amounts falling due within one year
5
1,921
(7,766)
Net current assets/(liabilities)
7,835
(1,188)
Net assets/(liabilities)
7,863
(1,151)
Capital and reserves
Called up share capital
6
4
4
Profit and loss reserves
7,859
(1,155)
Total equity
7,863
(1,151)
For the financial year ended 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 of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 29 April 2025 and are signed on its behalf by:
Mr G P Stringer
Director
Company registration number 4721023 (England and Wales)
REEF MUSIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information
Reef Music Limited is a private company limited by shares incorporated in England and Wales. The registered office is First Floor, 14-15 Berners Street, London, W1T 3LJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for live performances and royalties net of VAT.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
25% wdv
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Financial instruments
The company only has basic financial instruments.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction,
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
REEF MUSIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
4
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 and 30 April 2024
10,851
Depreciation and impairment
At 1 May 2023
10,814
Depreciation charged in the year
9
At 30 April 2024
10,823
Carrying amount
At 30 April 2024
28
At 30 April 2023
37
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
578
578
Corporation tax recoverable
350
578
928
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,552
Corporation tax
2,085
970
Other taxation and social security
179
7,457
Other creditors
(7,737)
(661)
(1,921)
7,766