Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-30true2The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-07-01falsedesign, construction and fitting out of music studios and the retailing of musical instruments and accessories2true 04808420 2023-07-01 2024-06-30 04808420 2022-07-01 2023-06-30 04808420 2024-06-30 04808420 2023-06-30 04808420 c:Director1 2023-07-01 2024-06-30 04808420 d:Buildings d:LongLeaseholdAssets 2023-07-01 2024-06-30 04808420 d:Buildings d:LongLeaseholdAssets 2024-06-30 04808420 d:Buildings d:LongLeaseholdAssets 2023-06-30 04808420 d:MotorVehicles 2023-07-01 2024-06-30 04808420 d:MotorVehicles 2024-06-30 04808420 d:MotorVehicles 2023-06-30 04808420 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04808420 d:FurnitureFittings 2023-07-01 2024-06-30 04808420 d:FurnitureFittings 2024-06-30 04808420 d:FurnitureFittings 2023-06-30 04808420 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04808420 d:ComputerEquipment 2023-07-01 2024-06-30 04808420 d:ComputerEquipment 2024-06-30 04808420 d:ComputerEquipment 2023-06-30 04808420 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04808420 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04808420 d:CurrentFinancialInstruments 2024-06-30 04808420 d:CurrentFinancialInstruments 2023-06-30 04808420 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 04808420 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 04808420 d:ShareCapital 2024-06-30 04808420 d:ShareCapital 2023-06-30 04808420 d:RetainedEarningsAccumulatedLosses 2024-06-30 04808420 d:RetainedEarningsAccumulatedLosses 2023-06-30 04808420 c:FRS102 2023-07-01 2024-06-30 04808420 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 04808420 c:FullAccounts 2023-07-01 2024-06-30 04808420 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04808420 2 2023-07-01 2024-06-30 04808420 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure
Registered number: 04808420






PRO MUSIC INTERNATIONAL LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










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PRO MUSIC INTERNATIONAL LIMITED
REGISTERED NUMBER:04808420

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
262,316
14,885

  
262,316
14,885

Current assets
  

Stocks
 5 
10,700
15,700

Debtors: amounts falling due within one year
 6 
50,369
12,153

Cash at bank and in hand
 7 
658
7,795

  
61,727
35,648

Creditors: amounts falling due within one year
 8 
(344,560)
(27,171)

Net current (liabilities)/assets
  
 
 
(282,833)
 
 
8,477

Total assets less current liabilities
  
(20,517)
23,362

  

Net (liabilities)/assets
  
(20,517)
23,362


Capital and reserves
  

Called up share capital 
  
60
60

Profit and loss account
  
(20,577)
23,302

  
(20,517)
23,362


Page 1

 
PRO MUSIC INTERNATIONAL LIMITED
REGISTERED NUMBER:04808420
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Paul David Rayner Brown
Director

Date: 12 June 2025

Page 2

 
PRO MUSIC INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Pro Music International Limited is a private company limited by shares, incorporated in England and Wales.  Its registered office is Phoenix House, Redhill Aerodrome, Kings Mill Lane, Redhill, Surrey RH1 5JY.
The principal activity of the company continued to be that of the design, construction and fitting out of music studios and the retailing of musical instruments and accessories.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

Although the company has net liabilities, the financial statements have been prepared on the going concern basis due to the continued support of the directors.  The directors are of the opinion that the company will not be significantly affected by the pandemic caused by the coronavirus (Covid-19) and believe that the company is a going concern.  Accordingly, the financial statements have been prepared on that basis.

Page 3

 
PRO MUSIC INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 4

 
PRO MUSIC INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

L/Term Leasehold Property
-
2%
straight line
Motor vehicles
-
20%
straight line
Fixtures & fittings
-
25%
reducing balance
Computer equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
PRO MUSIC INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 6

 
PRO MUSIC INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





L/Term Leasehold Property
Motor vehicles
Fixtures & fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 July 2023
-
26,210
26,126
-
52,336


Additions
252,086
-
1,138
2,299
255,523


Disposals
-
(14,215)
-
-
(14,215)



At 30 June 2024

252,086
11,995
27,264
2,299
293,644



Depreciation


At 1 July 2023
-
13,534
23,917
-
37,451


Charge for the year on owned assets
1,486
4,294
649
479
6,908


Disposals
-
(13,031)
-
-
(13,031)



At 30 June 2024

1,486
4,797
24,566
479
31,328



Net book value



At 30 June 2024
250,600
7,198
2,698
1,820
262,316



At 30 June 2023
-
12,676
2,209
-
14,885

Page 7

 
PRO MUSIC INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
10,700
15,700

10,700
15,700



6.


Debtors

2024
2023
£
£


Other debtors
50,369
12,153

50,369
12,153



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
658
7,795

658
7,795



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
3,930
856

Other taxation and social security
6,955
6,713

Other creditors
330,041
16,352

Accruals and deferred income
3,634
3,250

344,560
27,171


 
Page 8