North East Music Co-operative Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03079979

NORTH EAST MUSIC CO-OPERATIVE LIMITED

COMPANY LIMITED BY GUARANTEE

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 August 2025

NORTH EAST MUSIC CO-OPERATIVE LIMITED

COMPANY LIMITED BY GUARANTEE

FINANCIAL STATEMENTS

YEAR ENDED 31st AUGUST 2025

CONTENTS	PAGES

Statement of financial position	1 to 2

Notes to the financial statements	3 to 5

NORTH EAST MUSIC CO-OPERATIVE LIMITED

COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL POSITION

31 August 2025

	2025		2024
Note	£	£	£	£

FIXED ASSETS

Tangible assets	6		1,397		1,907

CURRENT ASSETS

Debtors	7	476	30
Cash at bank and in hand		107,436	108,378
		----------	----------
		107,912	108,408

CREDITORS: amounts falling due within one year	8	2,281		2,528
		----------		----------
NET CURRENT ASSETS			105,631		105,880
			----------		----------
TOTAL ASSETS LESS CURRENT LIABILITIES			107,028		107,787
			----------		----------
NET ASSETS			107,028		107,787
			----------		----------

CAPITAL AND RESERVES

Profit and loss account	107,028	107,787
	----------	----------
MEMBERS FUNDS	107,028	107,787
	----------	----------

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 31st August 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 .

NORTH EAST MUSIC CO-OPERATIVE LIMITED

COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL POSITION (continued)

31 August 2025

These financial statements were approved by the board of directors and authorised for issue on 6 August 2026 , and are signed on behalf of the board by:

D. A. Henderson

Director

Company registration number: 03079979

NORTH EAST MUSIC CO-OPERATIVE LIMITED

COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31st AUGUST 2025

1. GENERAL INFORMATION

The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is McCracken Park, Great North Road, Gosforth, Newcastle, NE3 2DT.

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. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The financial statements have been prepared on the going concern basis. The directors consider that this basis is appropriate following due consideration of the present financial position, the expected prospects of the company during the twelve months from the date of approval of these financial statements and the continued support of the company's directors, bankers and other lending agents during this time.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

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:

Plant and Machinery	-	20% reducing balance
Equipment	-	20% reducing balance

Financial instruments

A financial asset or a financial liability is recognised only when the entity 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 .

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.

4. COMPANY LIMITED BY GUARANTEE

The company is limited by guarantee and as such has no share capital. In the event of the winding up of the company each member's liability will be limited to £1.

5. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 3 (2024: 3 ).

6. TANGIBLE ASSETS

	Plant and machinery	Equipment	Total
	£	£	£
Cost
At 1st September 2024	47,117	17,091	64,208
Disposals	–	( 17,091)	( 17,091)
	---------	---------	---------
At 31st August 2025	47,117	–	47,117
	---------	---------	---------
Depreciation
At 1st September 2024	45,370	16,931	62,301
Charge for the year	350	–	350
Disposals	–	( 16,931)	( 16,931)
	---------	---------	---------
At 31st August 2025	45,720	–	45,720
	---------	---------	---------
Carrying amount
At 31st August 2025	1,397	–	1,397
	---------	---------	---------
At 31st August 2024	1,747	160	1,907
	---------	---------	---------

7. DEBTORS

	2025	2024
	£	£
Trade debtors	257	–
Prepayments	219	30
	----	----
	476	30
	----	----

8. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Accruals	2,281	2,528
	-------	-------

9. RELATED PARTY TRANSACTIONS

No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A small entities.