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REGISTERED NUMBER: 03025707 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

COOL MUSIC LIMITED

COOL MUSIC LIMITED (REGISTERED NUMBER: 03025707)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


COOL MUSIC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: D A Alexander





SECRETARY: D A Alexander





REGISTERED OFFICE: 2 Jardine House
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX





REGISTERED NUMBER: 03025707 (England and Wales)





ACCOUNTANTS: Barber & Company
A trading name of PCM Accounting Limited
2 Jardine House
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX

COOL MUSIC LIMITED (REGISTERED NUMBER: 03025707)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 704,052 764,960
Investments 5 3,481,420 638
4,185,472 765,598

CURRENT ASSETS
Debtors 6 2,049,131 1,520,359
Cash at bank 2,020,605 5,394,221
4,069,736 6,914,580
CREDITORS
Amounts falling due within one year 7 2,461,548 2,829,998
NET CURRENT ASSETS 1,608,188 4,084,582
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,793,660

4,850,180

CREDITORS
Amounts falling due after more than one
year

8

-

(304,043

)

PROVISIONS FOR LIABILITIES (4,682 ) (5,305 )
NET ASSETS 5,788,978 4,540,832

CAPITAL AND RESERVES
Called up share capital 9 400 400
Capital redemption reserve 50 50
Retained earnings 5,788,528 4,540,382
SHAREHOLDERS' FUNDS 5,788,978 4,540,832

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

COOL MUSIC LIMITED (REGISTERED NUMBER: 03025707)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 November 2023 and were signed by:





D A Alexander - Director


COOL MUSIC LIMITED (REGISTERED NUMBER: 03025707)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Cool Music 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 as modified by the revaluation of certain assets.

The financial statements have been prepared in accordance with applicable accounting standards. The particular accounting policies adopted are described below.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.

Revenue earned from representing composers as agent, are recognised net of composer fees paid.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property - 4% on cost
Leasehold Improvements - 10% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

COOL MUSIC LIMITED (REGISTERED NUMBER: 03025707)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Long leasehold property
Long leasehold property is valued using the cost model. It is recognised at cost less any accumulated depreciation and any accumulated impairment losses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Leasehold Leasehold Plant and
property Improvements machinery
£    £    £   
COST
At 1 July 2022 659,290 287,851 9,790
Additions - - -
At 30 June 2023 659,290 287,851 9,790
DEPRECIATION
At 1 July 2022 105,486 115,140 9,287
Charge for year 26,372 28,785 101
At 30 June 2023 131,858 143,925 9,388
NET BOOK VALUE
At 30 June 2023 527,432 143,926 402
At 30 June 2022 553,804 172,711 503

COOL MUSIC LIMITED (REGISTERED NUMBER: 03025707)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

4. PROPERTY, PLANT AND EQUIPMENT - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2022 94,069 22,485 86,069 1,159,554
Additions 800 - 6,246 7,046
At 30 June 2023 94,869 22,485 92,315 1,166,600
DEPRECIATION
At 1 July 2022 73,335 16,690 74,656 394,594
Charge for year 5,383 2,898 4,415 67,954
At 30 June 2023 78,718 19,588 79,071 462,548
NET BOOK VALUE
At 30 June 2023 16,151 2,897 13,244 704,052
At 30 June 2022 20,734 5,795 11,413 764,960

5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 July 2022 638 10,000 10,638
Additions - 3,510,141 3,510,141
Revaluations - (3,567 ) (3,567 )
Exchange differences - (33,120 ) (33,120 )
Dividends received - 7,328 7,328
At 30 June 2023 638 3,490,782 3,491,420
PROVISIONS
At 1 July 2022
and 30 June 2023 - 10,000 10,000
NET BOOK VALUE
At 30 June 2023 638 3,480,782 3,481,420
At 30 June 2022 638 - 638

COOL MUSIC LIMITED (REGISTERED NUMBER: 03025707)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 30 June 2023 is represented by:

Shares in
group Other
undertakings investments Totals
£    £    £   
Valuation in 2023 - (29,359 ) (29,359 )
Cost 638 3,520,141 3,520,779
638 3,490,782 3,491,420

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 1,493,347 1,471,017
Amounts owed by group undertakings 427,927 -
Other debtors 2,272 -
Social security and other tax 78,372 -
Prepayments and accrued income 47,213 49,342
2,049,131 1,520,359

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts - 41,025
Trade creditors 1,928,503 1,329,125
Amounts owed to group undertakings - 67,367
Corporation tax 312,659 398,038
Social security and other taxes 6,402 101,854
Other creditors 1,081 248,081
Directors' current accounts 84,943 526,930
Accruals and deferred income 127,960 117,578
2,461,548 2,829,998

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans - 304,043

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - 304,043

COOL MUSIC LIMITED (REGISTERED NUMBER: 03025707)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

9. CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
100 Ordinary £1 100 100
30,000 "A" Ordinary 1p 300 300
400 400

10. ULTIMATE CONTROLLING PARTY

The controlling party is D A Alexander.