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COMPANY REGISTRATION NUMBER: 09632048

Musicians League Ltd

Filleted Unaudited Financial Statements

30 June 2025

Musicians League Ltd

Statement of Financial Position

30 June 2025

| 2025 | 2024
Note | £ | £ | £

Current assets

Debtors | 7 | 76,319 |  | 82,716
Cash at bank and in hand | 73,633 |  | 50,817
| --------- |  | ---------
| 149,952 |  | 133,533

Creditors: amounts falling due within one year | 8 | 462,002 |  | 463,899
| --------- |  | ---------
Net current liabilities |  | 312,050 | 330,366
|  | --------- | ---------
Total assets less current liabilities |  | ( 312,050) | ( 330,366)

Creditors: amounts falling due after more than one year | 9 |  | 13,591 | 22,543
|  | --------- | ---------
Net liabilities |  | ( 325,641) | ( 352,909)
|  | --------- | ---------

Capital and reserves

Called up share capital |  | 100 | 100
Profit and loss account |  | ( 325,741) | ( 353,009)
|  | --------- | ---------
Shareholders deficit |  | ( 325,641) | ( 352,909)
|  | --------- | ---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 Act with respect to accounting records and the preparation of financial statements .

Musicians League Ltd

Statement of Financial Position (continued)

30 June 2025
These financial statements were approved by the board of directors and authorised for issue on 18 September 2025 , and are signed on behalf of the board by:

Mr D Brian Eldridge
Director

Company registration number: 09632048

Musicians League Ltd

Notes to the Financial Statements

Year ended 30 June 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Adamson House Towers Business Park, Wilmslow Road, Manchester, England, M20 2YY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company relies on ongoing support from Directors which is being provided. Hence, the Accounts have been prepared on the Going Concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Equipment | - | 50 % straight line

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).
5. Tax on profit
Major components of tax expense

| 2025 | 2024
| £ | £

Deferred tax:

Origination and reversal of timing differences | 6,397 | 3,146
| ------- | -------
Tax on profit | 6,397 | 3,146
| ------- | -------

Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the year is higher than (2024: higher than) the standard rate of corporation tax in the UK of 19 % (2024: 19 %).

| 2025 | 2024
| £ | £
Profit on ordinary activities before taxation | 33,665 | 16,559
| -------- | --------
Unused tax losses | 6,397 | 3,146
| -------- | --------

6. Tangible assets

| Equipment | Total
| £ | £
Cost |  |
At 1 July 2024 and 30 June 2025 | 19,022 | 19,022
| -------- | --------
Depreciation |  |
At 1 July 2024 and 30 June 2025 | 19,022 | 19,022
| -------- | --------
Carrying amount |  |
At 30 June 2025 | – | –
| -------- | --------
At 30 June 2024 | – | –
| -------- | --------

7. Debtors

| 2025 | 2024
| £ | £
Other debtors | 76,319 | 82,716
| -------- | --------

Other debtors include Deferred tax Assets of £76,319 (2024: £82,716)
8. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Trade creditors | 7,870 | 10,053
Social security and other taxes | 24,233 | 22,287
Other creditors | 429,899 | 431,559
| --------- | ---------
| 462,002 | 463,899
| --------- | ---------

Other creditors include director loan of £357,372 (2024: £357,372) from Mr Michael Mcclintock.
9. Creditors: amounts falling due after more than one year

| 2025 | 2024
| £ | £
Bounce back loan | 13,591 | 22,543
| -------- | --------

10. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard for smaller entities.