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Registered Number: 10923287
England and Wales

 

 

 

RATIONALE MUSIC LIMITED



Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
Director Tinashé Enock Kudzai Fazakerley
Registered Number 10923287
Registered Office 236 Southstand Apartments Highbury Stadium Square
London
N5 1FD
Accountants Worth Knowing Accountants Ltd
7 Bell Yard
London
WC2A 2JR
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 August 2024
Principal activities
Principal activity of the company during the financial year was of Sound recording and music publishing activities.
Director
The director who served the company throughout the year was as follows:
Tinashé Enock Kudzai Fazakerley
Statement of director's responsibilities
The director is responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The director is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
Tinashé Enock Kudzai Fazakerley
Director

Date approved: 28 May 2025
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 August 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Worth Knowing Accountants Ltd
31 August 2024



....................................................
Worth Knowing Accountants Ltd
7 Bell Yard
London
WC2A 2JR
28 May 2025
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 56,790    55,328 
56,790    55,328 
Current assets      
Debtors 4   1,800 
Cash at bank and in hand 111,886    70,178 
111,886    71,978 
Creditors: amount falling due within one year 5 (32,255)   (13,274)
Net current assets 79,631    58,704 
 
Total assets less current liabilities 136,421    114,032 
Creditors: amount falling due after more than one year 6 (25,682)   (31,208)
Net assets 110,739    82,824 
 

Capital and reserves
     
Called up share capital 10    10 
Profit and loss account 110,729    82,814 
Shareholders' funds 110,739    82,824 
 


For the year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 28 May 2025 and were signed by:


-------------------------------
Tinashé Enock Kudzai Fazakerley
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 September 2022 10  104,583  104,593 
Profit for the year 23,231  23,231 
Total comprehensive income for the year 23,231  23,231 
Dividends (45,000) (45,000)
Total investments by and distributions to owners (45,000) (45,000)
At 31 August 2023 10  82,814  82,824 
At 01 September 2023 10  82,814  82,824 
Profit for the year 80,915  80,915 
Total comprehensive income for the year 80,915  80,915 
Dividends (53,000) (53,000)
Total investments by and distributions to owners (53,000) (53,000)
At 31 August 2024 10  110,729  110,739 
5
General Information
Rationale Music Limited is a private company, limited by shares, registered in England and Wales, registration number 10923287, registration address 236 Southstand Apartments Highbury Stadium Square, London, N5 1FD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 0% on Building Straight Line
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 33% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 September 2023 21,826    39,776    17,869    11,774    91,245 
Additions     11,987    209    12,196 
Disposals        
At 31 August 2024 21,826    39,776    29,856    11,983    103,441 
Depreciation
At 01 September 2023   17,402    11,290    7,225    35,917 
Charge for year   5,593    3,591    1,550    10,734 
On disposals        
At 31 August 2024   22,995    14,881    8,775    46,651 
Net book values
Closing balance as at 31 August 2024 21,826    16,781    14,975    3,208    56,790 
Opening balance as at 01 September 2023 21,826    22,374    6,579    4,549    55,328 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors   1,800 
  1,800 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 1   
Corporation Tax 23,544    5,236 
Accrued Expenses 1,023    760 
Obligations under HP/Financial Leases 5,526    5,526 
Directors' Current Accounts 444    1,082 
VAT 1,717    670 
32,255    13,274 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Obligations Under HP/Financial Leases 25,682    31,208 
25,682    31,208 

6