Company No: 08615775 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	C M Esclapez
	T Rogers

SECRETARY

Avery Law Cosec Ltd

REGISTERED OFFICE	83 Lavender Hill
	London
	SW11 5QL
	United Kingdom

COMPANY NUMBER

08615775 (England and Wales)

ACCOUNTANT	Gravita Essex Limited
	Treviot House
	186-192 High Road
	Ilford
	Essex
	IG1 1LR
	United Kingdom

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	873		1,164
		873		1,164
Current assets
Debtors	4, 8	32,263		38,514
Cash at bank and in hand	5	38,971		2,714
		71,234		41,228
Creditors: amounts falling due within one year	6	( 64,136)		( 98,389)
Net current assets/(liabilities)		7,098		(57,161)
Total assets less current liabilities		7,971		(55,997)
Creditors: amounts falling due after more than one year	7	( 3,553)		( 13,715)
Net assets/(liabilities)		4,418		( 69,712)
Capital and reserves
Called-up share capital		186		176
Share premium account		1,235,049		1,050,582
Profit and loss account		( 1,230,817 )		( 1,120,470 )
Total shareholders' funds/(deficit)		4,418		( 69,712)

For the financial year ending 31 December 2024 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Music Education Technologies Limited (registered number: 08615775) were approved and authorised for issue by the Board of Directors on 04 August 2025. They were signed on its behalf by:

T Rogers Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Music Education Technologies Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 83 Lavender Hill, London, SW11 5QL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents net income received from online sales, excluding value added tax.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	25 % reducing balance
Computer equipment	25 % reducing balance

Taxation

Taxation for the year comprises current tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

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.

Going concern

The balance sheet at the end of the year recorded net current liabilities. However the company is actively raising funds and has successfully secured 75% of its target amount, providing essential capital for ongoing operations and strategic initiatives. Furthermore, the company is engaged in significant contract negotiations with key partners to expand its exam system in China, while also aiming to increase sales of the existing system globally. The recent shift to a subscription-based business model has resulted in significantly improved customer metrics, with a projected 2-3x increase in customer lifetime value. These factors collectively support our positive outlook for the company's financial health and operational sustainability. Therefore, the financial statements have been prepared on a going concern basis.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

3. Tangible assets

	Plant and machinery		Computer equipment		Total
	£		£		£
Cost
At 01 January 2024	1,063		6,495		7,558
At 31 December 2024	1,063		6,495		7,558
Accumulated depreciation
At 01 January 2024	991		5,403		6,394
Charge for the financial year	18		273		291
At 31 December 2024	1,009		5,676		6,685
Net book value
At 31 December 2024	54		819		873
At 31 December 2023	72		1,092		1,164

4. Debtors

	2024		2023
	£		£
Trade debtors	2,402		18,956
Other debtors	29,861		19,558
	32,263		38,514

5. Cash and cash equivalents

	2024		2023
	£		£
Cash at bank and in hand	38,971		2,714

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	3,030		11,289
Trade creditors	25,340		28,684
Other taxation and social security	14,401		8,118
Other creditors	21,365		50,298
	64,136		98,389

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	3,553		13,715

There are no amounts included above in respect of which any security has been given by the small entity.

8. Contingent Assets

For the year ended 31st December 2024, Music Education Technologies Limited have a research and development tax credit receivable from HMRC for £9,041.38

This will be received after the unaudited financial statements are filed and hence disclosed as a contingent asset.