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Registered number: 11332158
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Amazing Music America Limited
Financial statements
Information for filing with the registrar
31 December 2024
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Amazing Music America Limited
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Balance sheet
At 31 December 2024
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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1
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Amazing Music America Limited
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Balance sheet (continued)
At 31 December 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 comprehensive income 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 on 30 September 2025.
Registered number: 11332158
The notes on pages 3 to 8 form part of these financial statements.
2
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Amazing Music America Limited
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Notes to the financial statements
Year ended 31 December 2024
Amazing Music America Limited ('the company') is a private company limited by shares, incorporated and domiciled in the United Kingdom and registered in England. The address of the registered office is Amazing Towers, Church Street, Gateshead, NE8 2AT.
2.Accounting policies
The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS 102) and the Companies Act 2006.
The following principal accounting policies have been applied:
The financial statements have been prepared on a going concern basis, the validity of which depends
upon the continued support of the directors and shareholder. The directors/shareholder have confirmed their willingness to provide the requisite support for a period of at least 12 months from the date of signing these financial statements.
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Foreign currency translation
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Functional and presentation currency
The company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
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.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
3
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Amazing Music America Limited
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Notes to the financial statements
Year ended 31 December 2024
2.Accounting policies (continued)
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
The estimated useful lives range as follows:
The useful lives and residual values of capitalised development costs are reviewed at the end of each reporting period. The effect of any change is accounted for prospectively.
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, using the straight-line method.
Depreciation is provided on the following basis:
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.
Investments in subsidiaries are measured at cost less accumulated impairment.
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The average monthly number of employees, including directors, during the year was 1 (2023 - 1).
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4
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Amazing Music America Limited
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Notes to the financial statements
Year ended 31 December 2024
5
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Amazing Music America Limited
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Notes to the financial statements
Year ended 31 December 2024
6
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Amazing Music America Limited
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Notes to the financial statements
Year ended 31 December 2024
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Creditors: amounts falling due within one year
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Accruals and deferred income
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Creditors: amounts falling due after more than one year
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7
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Amazing Music America Limited
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Notes to the financial statements
Year ended 31 December 2024
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Allotted, called up and fully paid
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10,000 (2023 - 10,000) A Ordinary shares of £0.01 each
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2,240 (2023 - 2,240) Ordinary shares of £0.01 each
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8
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