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REGISTERED NUMBER: 12411859 (England and Wales)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 January 2023

for

CHROMIUM MUSIC GROUP (UK) LIMITED

CHROMIUM MUSIC GROUP (UK) LIMITED (REGISTERED NUMBER: 12411859)

Contents of the Financial Statements
for the Year Ended 31 January 2023










Page

Company Information 1

Report of the Directors 2

Chartered Accountants' Report 3

Income Statement 4

Statement of Financial Position 5

Statement of Changes in Equity 6

Notes to the Financial Statements 7


CHROMIUM MUSIC GROUP (UK) LIMITED

Company Information
for the Year Ended 31 January 2023







DIRECTORS: Mr T Farnon
Mr G D Farnon





REGISTERED OFFICE: 71-75 Shelton Street
London
WC2H 9JQ





REGISTERED NUMBER: 12411859 (England and Wales)





ACCOUNTANTS: Offshore Private Client Limited
Fairbairn House
Rohais
St Peter Port
Guernsey
GY1 1FE

CHROMIUM MUSIC GROUP (UK) LIMITED (REGISTERED NUMBER: 12411859)

Report of the Directors
for the Year Ended 31 January 2023


The directors present their report with the financial statements of the company for the year ended 31 January 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of sound recording and music publishing.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 February 2022 to the date of this report.

Mr T Farnon
Mr G D Farnon

GOING CONCERN
After making enquiries and bearing in mind the nature of the company’s business and assets, the directors consider that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

DIRECTORS' RESPONSIBILITIES STATEMENT
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr T Farnon - Director


18 October 2023

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Chromium Music Group (UK) Limited



In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Chromium Music Group (UK) Limited for the year ended 31 January 2023 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Chromium Music Group (UK) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Chromium Music Group (UK) Limited and state those matters that we have agreed to state to the Board of Directors of Chromium Music Group (UK) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Chromium Music Group (UK) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Chromium Music Group (UK) Limited 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 Chromium Music Group (UK) Limited. You consider that Chromium Music Group (UK) Limited 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 Chromium Music Group (UK) Limited. 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.






Offshore Private Client Limited
Fairbairn House
Rohais
St Peter Port
Guernsey
GY1 1FE


19 October 2023

CHROMIUM MUSIC GROUP (UK) LIMITED (REGISTERED NUMBER: 12411859)

Income Statement
for the Year Ended 31 January 2023

2023 2022
Notes £    £   

TURNOVER 259,950 76,383

Cost of sales (133,374 ) (101,030 )
GROSS PROFIT/(LOSS) 126,576 (24,647 )

Administrative expenses (138,644 ) (43,827 )
OPERATING LOSS (12,068 ) (68,474 )

Interest receivable and similar income 9 -
(12,059 ) (68,474 )

Interest payable and similar expenses - (801 )
LOSS BEFORE TAXATION (12,059 ) (69,275 )

Tax on loss 4 - -
LOSS FOR THE FINANCIAL YEAR (12,059 ) (69,275 )

CHROMIUM MUSIC GROUP (UK) LIMITED (REGISTERED NUMBER: 12411859)

Statement of Financial Position
31 January 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 5 19,495 10,895
Cash at bank 23,537 689
43,032 11,584
CREDITORS
Amounts falling due within one year 6 (140,121 ) (96,614 )
NET CURRENT LIABILITIES (97,089 ) (85,030 )
TOTAL ASSETS LESS CURRENT LIABILITIES (97,089 ) (85,030 )

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings (97,189 ) (85,130 )
SHAREHOLDERS' FUNDS (97,089 ) (85,030 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2023 and were signed on its behalf by:





Mr T Farnon - Director


CHROMIUM MUSIC GROUP (UK) LIMITED (REGISTERED NUMBER: 12411859)

Statement of Changes in Equity
for the Year Ended 31 January 2023

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 1 February 2021 100 (15,855 ) (15,755 )

Changes in equity
Total comprehensive income - (69,275 ) (69,275 )
Balance at 31 January 2022 100 (85,130 ) (85,030 )

Changes in equity
Total comprehensive income - (12,059 ) (12,059 )
Balance at 31 January 2023 100 (97,189 ) (97,089 )

CHROMIUM MUSIC GROUP (UK) LIMITED (REGISTERED NUMBER: 12411859)

Notes to the Financial Statements
for the Year Ended 31 January 2023


1. STATUTORY INFORMATION

Chromium Music Group (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Significant judgements and estimates
The preparation of these financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies.

The following principal accounting policies have been applied:

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the Company.

The Company recognises revenue when (a) the significant risks and rewards of ownership have been transferred to the buyer; (b) the Company retains no continuing involvement or control over the goods; (c) the amount of revenue can be measured reliably; (d) it is probable that future economic benefits will flow to the entity and (e) when the specific criteria relating to each of the Company’s sales channels have been met, as described below.

Turnover consists principally from the provision of sound recording and music publishing, and is recognised in the Income Statement on an accruals basis.

Expenses recognition
Administration expenses are recognised in the Income Statement on an accruals basis.

CHROMIUM MUSIC GROUP (UK) LIMITED (REGISTERED NUMBER: 12411859)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transaction that result in the recognition of financial
assets and liabilities like trade creditors and loans from related parties.

Debt instruments that are payable within one year, typically trade creditors, are measured initially and
subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference
between as asset's carrying amount and best estimate of the recoverable amount, which is an approximation
of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Taxation
The company is liable to UK income tax of 19%. No provision has been made for tax due to the company being in a loss position.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held on call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within Creditors - amounts falling due within one year.

Going concern
These financial statements have been prepared on a going concern basis. The Company is currently in a net
liabilities position, but the shareholders have indicated their willingness to support the company, to enable it to pay its debts as they fall due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 31 January 2023 nor for the year ended 31 January 2022.

The company is liable to UK income tax of 19% (2022: 19%). No provision has been made for tax due to the company being in a loss position.

CHROMIUM MUSIC GROUP (UK) LIMITED (REGISTERED NUMBER: 12411859)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 12,453 10,895
Other debtors 7,042 -
19,495 10,895

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 20,446 15,463
Amounts owed to group undertakings 74,459 39,819
VAT payable 11,638 739
Other creditors 3,123 4,205
Director's loan account 30,455 36,388
140,121 96,614

The group undertaking loan owed to parent company, Chromium Music Group Limited, is unsecured, interest free and repayable on demand.

The director's loan owed to Mr T Farnon, is unsecured, interest free and repayable on demand.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100