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REGISTERED NUMBER: 04905234 (England and Wales)









MONASTERY OF SOUND LTD.

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2024






MONASTERY OF SOUND LTD. (REGISTERED NUMBER: 04905234)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024




Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


MONASTERY OF SOUND LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2024







DIRECTORS: R Monk
L Monk
N Punt





SECRETARY: L Monk





REGISTERED OFFICE: Orchard Way
Chartridge Lane
Chesham
Buckinghamshire
HP5 2RG





REGISTERED NUMBER: 04905234 (England and Wales)





ACCOUNTANTS: russell + russell
Chartered Certified Accountants
4 Royal Crescent
Glasgow
G3 7SL

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MONASTERY OF SOUND LTD.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Monastery Of Sound Ltd. for the year ended 30th September 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Monastery Of Sound Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Monastery Of Sound Ltd. and state those matters that we have agreed to state to the Board of Directors of Monastery Of Sound Ltd., as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Monastery Of Sound Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Monastery Of Sound Ltd.. You consider that Monastery Of Sound Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Monastery Of Sound Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






russell + russell
Chartered Certified Accountants
4 Royal Crescent
Glasgow
G3 7SL


2nd May 2025

MONASTERY OF SOUND LTD. (REGISTERED NUMBER: 04905234)

BALANCE SHEET
30TH SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 259 -
259 -

CURRENT ASSETS
Debtors 6 118,490 103,761
Investments 7 201,420 201,420
Cash at bank 152,753 176,507
472,663 481,688
CREDITORS
Amounts falling due within one year 8 461,878 470,775
NET CURRENT ASSETS 10,785 10,913
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,044

10,913

PROVISIONS FOR LIABILITIES 49 -
NET ASSETS 10,995 10,913

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 9,995 9,913
SHAREHOLDERS' FUNDS 10,995 10,913

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

MONASTERY OF SOUND LTD. (REGISTERED NUMBER: 04905234)

BALANCE SHEET - continued
30TH SEPTEMBER 2024


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 Board of Directors and authorised for issue on 2nd May 2025 and were signed on its behalf by:





L Monk - Director


MONASTERY OF SOUND LTD. (REGISTERED NUMBER: 04905234)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

1. STATUTORY INFORMATION

Monastery Of Sound Ltd. 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The directors believe that the company has the adequate resources and support to continue to operate for the foreseeable future. The financial statements have been prepared on a going concern basis and there are no material uncertainties that cast significant doubt on the company's ability to trade as a going concern.

Turnover
The turnover shown in the profit and loss account represents fees invoiced and royalty income due for the period, exclusive of value added tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation of rights to royalty income and repeat fees is provided at the annual rate of 20% in order to write off the net book value at 1st October, 2016 of £52,500 over its estimated useful economic life of 5 years. As this change is being treated as a change in accounting estimate no retrospective adjustments have been made.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Equipment - 25% straight line

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation
Taxation for the year comprises current 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 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.

There are no deferred tax assets or liabilities.

Current asset investments
Current asset investments are stated at fair value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

MONASTERY OF SOUND LTD. (REGISTERED NUMBER: 04905234)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

4. INTANGIBLE FIXED ASSETS
Royalty
rights
£   
COST
At 1st October 2023
and 30th September 2024 160,000
AMORTISATION
At 1st October 2023
and 30th September 2024 160,000
NET BOOK VALUE
At 30th September 2024 -
At 30th September 2023 -

5. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1st October 2023 28,276
Additions 319
At 30th September 2024 28,595
DEPRECIATION
At 1st October 2023 28,276
Charge for year 60
At 30th September 2024 28,336
NET BOOK VALUE
At 30th September 2024 259
At 30th September 2023 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Prepayments and accrued income 118,490 103,761

7. CURRENT ASSET INVESTMENTS
30.9.24 30.9.23
£    £   
Other current asset investments 201,420 201,420

MONASTERY OF SOUND LTD. (REGISTERED NUMBER: 04905234)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 21 9
Taxation and social security 1,000 2,225
Other creditors 460,857 468,541
461,878 470,775

Other creditors includes £453,991 (2023 - £461,903) in respect of amounts owed to directors.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
600 A Ordinary £1 600 600
150 B Ordinary £1 150 150
125 C Ordinary £1 125 125
125 D Ordinary £1 125 125
1,000 1,000

10. ULTIMATE CONTROLLING PARTY

The company was under the control of R Monk throughout the current and previous year.