Company registration number 13534426 (England and Wales)
BETTY BOO RECORDS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
BETTY BOO RECORDS LTD
CONTENTS
Page
Balance sheet
3
Statement of changes in equity
4
Notes to the financial statements
5 - 6
BETTY BOO RECORDS LTD
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF BETTY BOO RECORDS LTD
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Betty Boo Records Ltd for the year ended 31 July 2023 which comprise the profit and loss account, the balance sheet, the statement of changes in equity and the related notes from the company’s accounting records and from information and explanations you have given us.
This report is made solely to the board of directors of Betty Boo Records Ltd, as a body, in accordance with the terms of our engagement letter dated 26 July 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Betty Boo Records Ltd . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Betty Boo Records Ltd and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Betty Boo Records Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Betty Boo Records Ltd. You consider that Betty Boo Records Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Betty Boo Records Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
YMU Business Management Limited
10 April 2024
Accountants
180 Great Portland Street
London
W1W 5QZ
BETTY BOO RECORDS LTD
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 JULY 2023
- 2 -
Year
Period
ended
ended
31 July
31 July
2023
2022
£
£
Turnover
10,412
-
Cost of sales
(13,128)
(12,458)
Gross loss
(2,716)
(12,458)
Administrative expenses
(4,906)
(2,454)
Loss before taxation
(7,622)
(14,912)
Tax on loss
Loss for the financial year
(7,622)
(14,912)
The profit and loss account has been prepared on the basis that all operations are continuing operations.
BETTY BOO RECORDS LTD
BALANCE SHEET
- 3 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
2,832
Cash at bank and in hand
169
50
169
2,882
Creditors: amounts falling due within one year
4
(22,702)
(17,793)
Net current liabilities
(22,533)
(14,911)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(22,534)
(14,912)
Total equity
(22,533)
(14,911)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 10 April 2024
Ms A Clarkson
Director
Company registration number 13534426 (England and Wales)
BETTY BOO RECORDS LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2023
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Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 28 July 2021
-
Period ended 31 July 2022:
Loss and total comprehensive income
-
(14,912)
(14,912)
Issue of share capital
1
-
1
Balance at 31 July 2022
1
(14,912)
(14,911)
Year ended 31 July 2023:
Loss and total comprehensive income
-
(7,622)
(7,622)
Balance at 31 July 2023
1
(22,534)
(22,533)
BETTY BOO RECORDS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 5 -
1
Accounting policies
Company information
Betty Boo Records Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 180 Great Portland Street, London, W1W 5QZ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable of sound recording and music publishing activities and is shown net of VAT.
1.3
Financial instruments
The company has only basic financial instruments.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
2,832
BETTY BOO RECORDS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 6 -
4
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
791
Other creditors
21,911
17,793
22,702
17,793