BrightAccountsProduction v1.0.0 v1.0.0 2024-11-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity in the period of review was retail sale of musical equipment. 16 July 2026 03852224 2025-10-31 03852224 2024-10-31 03852224 2023-10-31 03852224 2024-11-01 2025-10-31 03852224 2023-11-01 2024-10-31 03852224 uk-bus:PrivateLimitedCompanyLtd 2024-11-01 2025-10-31 03852224 uk-curr:PoundSterling 2024-11-01 2025-10-31 03852224 uk-bus:SmallCompaniesRegimeForAccounts 2024-11-01 2025-10-31 03852224 uk-bus:FullAccounts 2024-11-01 2025-10-31 03852224 uk-bus:Director1 2024-11-01 2025-10-31 03852224 uk-bus:CompanySecretaryDirector1 2024-11-01 2025-10-31 03852224 uk-bus:CompanySecretary1 2024-11-01 2025-10-31 03852224 uk-bus:RegisteredOffice 2024-11-01 2025-10-31 03852224 uk-bus:Agent1 2024-11-01 2025-10-31 03852224 uk-core:ShareCapital 2025-10-31 03852224 uk-core:ShareCapital 2024-10-31 03852224 uk-core:RetainedEarningsAccumulatedLosses 2025-10-31 03852224 uk-core:RetainedEarningsAccumulatedLosses 2024-10-31 03852224 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2025-10-31 03852224 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-10-31 03852224 uk-bus:FRS102 2024-11-01 2025-10-31 03852224 uk-core:PlantMachinery 2024-11-01 2025-10-31 03852224 uk-core:CurrentFinancialInstruments 2025-10-31 03852224 uk-core:CurrentFinancialInstruments 2024-10-31 03852224 uk-core:WithinOneYear 2025-10-31 03852224 uk-core:WithinOneYear 2024-10-31 03852224 uk-core:EmployeeBenefits 2024-10-31 03852224 uk-core:EmployeeBenefits 2024-11-01 2025-10-31 03852224 uk-core:AcceleratedTaxDepreciationDeferredTax 2025-10-31 03852224 uk-core:TaxLossesCarry-forwardsDeferredTax 2025-10-31 03852224 uk-core:OtherDeferredTax 2025-10-31 03852224 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2025-10-31 03852224 uk-core:EmployeeBenefits 2025-10-31 03852224 2024-11-01 2025-10-31 03852224 uk-bus:AuditExempt-NoAccountantsReport 2024-11-01 2025-10-31 xbrli:pure iso4217:GBP xbrli:shares

Company Registration Number: 03852224

Musicworks (UK) Limited

Unaudited Financial Statements

for the financial year ended 31 October 2025

Musicworks (UK) Limited

DIRECTORS AND OTHER INFORMATION

Directors | Lawrence Ogden
| Wendy Walker
Company Secretary | Wendy Walker
Company Registration Number | 03852224
Registered Office and Business Address | 14 Stockport Road
| Cheadle
| Cheshire
| SK8 2AA
Accountants | Langers
| Chartered Certified Accountants
| 8-10 Gatley Road
| Cheadle
| Cheshire
| SK8 1PY

Musicworks (UK) Limited

Company Registration Number: 03852224

STATEMENT OF FINANCIAL POSITION

as at 31 October 2025

|  |  | 2025 |  | 2024
|  | Notes | £ |  | £
Non-Current Assets

Property, plant and equipment |  | 4 | 991 |  | 1,076
|  |  | ───────── |  | ─────────
Current Assets

Stocks |  | 5 | 203,374 |  | 168,029
Debtors |  | 6 | 35,036 |  | 28,452
Cash and cash equivalents |  |  | 180,291 |  | 177,840
|  |  | ───────── |  | ─────────
|  |  | 418,701 |  | 374,321
|  |  | ───────── |  | ─────────
Creditors: amounts falling due within one year |  | 7 | (130,641) |  | (110,996)
|  |  | ───────── |  | ─────────
Net Current Assets |  |  | 288,060 |  | 263,325
|  |  | ───────── |  | ─────────
Total Assets less Current Liabilities |  |  | 289,051 |  | 264,401
Provisions for liabilities |  | 9 | (205) |  | (204)
|  |  | ───────── |  | ─────────
Net Assets |  |  | 288,846 |  | 264,197
|  |  | ═════════ |  | ═════════
Capital and Reserves

Called up share capital |  |  | 100 |  | 100
Retained earnings |  |  | 288,746 |  | 264,097
|  |  | ───────── |  | ─────────
Equity attributable to owners of the company |  |  | 288,846 |  | 264,197
|  |  | ═════════ |  | ═════════
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 company has taken advantage of the exemption under section 444 not to file the Income Statement and Directors' Report.

For the financial year ended 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Board and authorised for issue on 16 July 2026 and signed on its behalf by

________________________________ |  |  |  |  |
Lawrence Ogden |  |  |  |  |
Director |  |  |  |  |

Musicworks (UK) Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 October 2025

1. | General Information
| Musicworks (UK) Limited is a company limited by shares incorporated and registered in England. The registered number of the company is 03852224. The registered office of the company is 14 Stockport Road, Cheadle, Cheshire, SK8 2AA which is also the principal place of business of the company. The principal activity in the period of review was retail sale of musical equipment. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

2. | Summary of Significant Accounting Policies
| The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
| Statement of compliance
| The financial statements of the company for the financial year ended 31 October 2025 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
| Basis of preparation
| The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
| Revenue
| Revenue comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
| Property, plant and equipment and depreciation
| Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. Cost comprises purchase price and other directly attributable costs. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
|  | Plant and machinery | - | 25% Reducing balance
| The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
| Stocks
| Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
| Trade and other debtors
| Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
| Provisions
| Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
| Trade and other creditors
| Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
| Taxation and deferred taxation
| Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date. 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 tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.
| Ordinary share capital
| The ordinary share capital of the company is presented as equity.

3. | Employees
| The average monthly number of employees, including directors, during the financial year was 6, (2024 - 5).
|  | 2025 | 2024
|  | Number | Number
| Director | 2 | 2
| Staff | 4 | 3
|  | ───────── | ─────────
|  | 6 | 5
|  | ═════════ | ═════════

4. | Property, plant and equipment
|  | Plant and | Total
|  | machinery |
|  | £ | £
| Cost
| At 1 November 2024 | 5,648 | 5,648
| Additions | 245 | 245
|  | ───────── | ─────────
| At 31 October 2025 | 5,893 | 5,893
|  | ───────── | ─────────
| Depreciation
| At 1 November 2024 | 4,572 | 4,572
| Charge for the financial year | 330 | 330
|  | ───────── | ─────────
| At 31 October 2025 | 4,902 | 4,902
|  | ───────── | ─────────
| Net book value
| At 31 October 2025 | 991 | 991
|  | ═════════ | ═════════
| At 31 October 2024 | 1,076 | 1,076
|  | ═════════ | ═════════

5. | Stocks | 2025 | 2024
|  | £ | £
| Finished goods and goods for resale | 203,374 | 168,029
|  | ═════════ | ═════════

6. | Debtors | 2025 | 2024
|  | £ | £
| Trade debtors | 33,255 | 25,546
| Directors' current accounts (Note 12) | 374 | 290
| Prepayments and accrued income | 1,407 | 2,616
|  | ───────── | ─────────
|  | 35,036 | 28,452
|  | ═════════ | ═════════

7. | Creditors | 2025 | 2024
| Amounts falling due within one year | £ | £
| Trade creditors | 10,976 | -
| Amounts owed to connected parties (Note 11) | 80,334 | 52,843
| Taxation (Note 8) | 29,765 | 49,175
| Directors' current accounts | 3,809 | 5,170
| Accruals:
| Pension accrual | 560 | 176
| Other accruals | 5,197 | 3,632
|  | ───────── | ─────────
|  | 130,641 | 110,996
|  | ═════════ | ═════════

8. | Taxation | 2025 | 2024
|  | £ | £
| Creditors:
| VAT | 23,156 | 28,941
| Corporation tax | 6,603 | 20,234
| PAYE / NI | 6 | -
|  | ───────── | ─────────
|  | 29,765 | 49,175
|  | ═════════ | ═════════

9. | Provisions for liabilities
| The amounts provided for deferred taxation are analysed below:
|  | Capital | Total | Total
|  | allowances |  |
|  |  | 2025 | 2024
|  | £ | £ | £
| At financial year start | 204 | 204 | 85
| Charged to profit and loss | 1 | 1 | 119
|  | ───────── | ───────── | ─────────
| At financial year end | 205 | 205 | 204
|  | ═════════ | ═════════ | ═════════

10. | Capital commitments
| The company had no material capital commitments at the financial year-ended 31 October 2025.

11. | Related party transactions
| The following amounts are due to other connected parties:
|  |  |  | 2025 | 2024
|  |  |  | £ | £
|  |  |  | - | 2,843
| The Audioworks (Nw) Limited |  |  | 80,334 | 50,000
|  |  |  | ───────── | ─────────
|  |  |  | 80,334 | 52,843
|  |  |  | ═════════ | ═════════

12. | Directors' advances, credits and guarantees
| At 31st October 2025 the company owed director Lawrence Ogden £3809 (2024: £5170); director Wendy Walker owed to the company £374 (2024: £290). No interest has been charged to the company in respect of these loans which are repayable on demand and classified in creditors due within one year.

13. | Events After the End of the Reporting Period
| There have been no significant events affecting the company since the financial year-end.