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REGISTERED NUMBER: 03318951 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Stayfree Music Limited

Stayfree Music Limited (Registered number: 03318951)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Stayfree Music Limited

Company Information
for the Year Ended 30 September 2024







DIRECTOR: I P Redhead





SECRETARY: Miss C A Wright





REGISTERED OFFICE: 2-4 Frog Island
Leicester
Leicestershire
LE3 5AG





REGISTERED NUMBER: 03318951 (England and Wales)





ACCOUNTANTS: Carter & Co
19 Warren Park Way
Enderby
Leicester
LE19 4SA

Stayfree Music Limited (Registered number: 03318951)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,131 8,999

CURRENT ASSETS
Stocks 898 526
Debtors 5 26,748 11,426
Cash at bank and in hand 3,445 7,242
31,091 19,194
CREDITORS
Amounts falling due within one year 6 6,606 5,883
NET CURRENT ASSETS 24,485 13,311
TOTAL ASSETS LESS CURRENT
LIABILITIES

33,616

22,310

PROVISIONS FOR LIABILITIES 254 115
NET ASSETS 33,362 22,195

CAPITAL AND RESERVES
Called up share capital 7 1,100 1,100
Retained earnings 32,262 21,095
SHAREHOLDERS' FUNDS 33,362 22,195

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 June 2025 and were signed by:



I P Redhead - Director


Stayfree Music Limited (Registered number: 03318951)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Stayfree Music Limited 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 15% on reducing balance
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred 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 or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 12 ) .

Stayfree Music Limited (Registered number: 03318951)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023 30,104 74,391 104,495
Additions - 2,343 2,343
At 30 September 2024 30,104 76,734 106,838
DEPRECIATION
At 1 October 2023 26,178 69,318 95,496
Charge for year 589 1,622 2,211
At 30 September 2024 26,767 70,940 97,707
NET BOOK VALUE
At 30 September 2024 3,337 5,794 9,131
At 30 September 2023 3,926 5,073 8,999

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 2,395 598
Amounts owed by group undertakings 19,802 7,649
Other debtors 709 736
Prepayments 3,842 2,443
26,748 11,426

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 2,142 182
Tax 2,568 2,636
Social security and other taxes 266 285
Directors' current accounts 66 126
Accrued expenses 1,564 2,654
6,606 5,883

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
1,100 Ordinary shares £1.00 1,100 1,100