Music Smart Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

Registered number: 12597741

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		47,545		750

			47,545		750
CURRENT ASSETS
Stocks	5	3,300		-
Debtors	6	1,768,207		1,463,977
Cash at bank and in hand		392,979		48,959

		2,164,486		1,512,936
Creditors: Amounts Falling Due Within One Year	7	(519,607 )		(348,586 )

NET CURRENT ASSETS (LIABILITIES)			1,644,879		1,164,350

TOTAL ASSETS LESS CURRENT LIABILITIES			1,692,424		1,165,100

NET ASSETS			1,692,424		1,165,100

CAPITAL AND RESERVES
Called up share capital	8		100		100
Profit and Loss Account			1,692,324		1,165,000

SHAREHOLDERS' FUNDS			1,692,424		1,165,100

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Nicholas Walker

Director

8 December 2025

The notes on pages 2 to 4 form part of these financial statements.

1. General Information

Music Smart Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12597741 . The registered office is Unit 5 Blue Ribbon Park, The Stampings, Coventry, CV6 5RE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue primarily comprises fixed monthly storage charges and picking, packing and postage charges. Revenue in respect of storage charges is recognised each calendar month as per the client contracts. Picking, packing and postage charges are recognised as items are dispatched.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery

20% Straight Line

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Page 3

Music Smart Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.7. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 19 (2024: NIL)

4. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 April 2024	833
Additions	50,795

As at 31 March 2025	51,628

Depreciation
As at 1 April 2024	83
Provided during the period	4,000

As at 31 March 2025	4,083

Net Book Value
As at 31 March 2025	47,545

As at 1 April 2024	750

5. Stocks

	2025	2024
	£	£
Stock	3,300	-

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	371,078	425,860
Prepayments and accrued income	98,368	99,157
Other debtors	1,298,761	938,960

	1,768,207	1,463,977

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Page 4

Music Smart Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	175,476	166,574
Corporation tax	85,172	27,175
Other taxes and social security	16,085	10,023
VAT	152,117	132,026
Net wages	8,684	-
Other creditors	55,674	5,216
Accruals and deferred income	26,399	7,572

	519,607	348,586

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

9. Related Party Transactions

Within other debtors are the following amounts due from subsidiaries of The Pack Smart Group Limited:

	2025	2024
	£	£
The Pack Smart Group Limited	-	10,100
Drinks Smart Limited	199,504	104,557
Pack Smart UK Limited	369,599	254,111
Sports Smart Limited	729,658	570,192

	1,298,761	938,960

Within other creditors are amounts due to the parent company as follows:

	2025	2024
	£	£
The Pack Smart Group Limited	49,300	-

	49,300	-

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