for the Period Ended 31 May 2023
Directors report | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 May 2023
Directors
The directors shown below have held office during the whole of the period from
30 May 2022 to 31 May 2023
The director shown below has held office during the period of
30 May 2022 to 24 May 2023
The director shown below has held office during the period of
30 May 2022 to 22 September 2022
The directors shown below have held office during the period of
19 May 2023 to 31 May 2023
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Director
As at
Notes | 2023 | ||
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| £ | ||
Fixed assets | |||
Intangible assets: | | ||
Tangible assets: | | ||
Investments: | | ||
Total fixed assets: | | ||
Current assets | |||
Stocks: | | ||
Debtors: | | ||
Cash at bank and in hand: | | ||
Investments: | | ||
Total current assets: | | ||
Prepayments and accrued income: | | ||
Creditors: amounts falling due within one year: | 3 | ( | |
Net current assets (liabilities): | | ||
Total assets less current liabilities: | | ||
Creditors: amounts falling due after more than one year: | | ||
Provision for liabilities: | | ||
Accruals and deferred income: | | ||
Total net assets (liabilities): | | ||
Members' funds | |||
Profit and loss account: | | ||
Total members' funds: | |
The notes form part of these financial statements
The directors have chosen not to file a copy of the company's profit and loss account.
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 May 2023
Basis of measurement and preparation
for the Period Ended 31 May 2023
2023 | ||
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Average number of employees during the period | |
for the Period Ended 31 May 2023
2023 | ||
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£ | ||
Bank loans and overdrafts | | |
Amounts due under finance leases and hire purchase contracts | | |
Trade creditors | | |
Taxation and social security | | |
Accruals and deferred income | | |
Other creditors | | |
Total | |
The company operates Seahouse Records, an independent record label based in Barrow-in-Furness, with a particular emphasis on representing local, original music artists. In the financial year 2022-23 the label’s activities have benefited the community in the following ways: Local music artists have been given a means to have their music distributed worldwide for streaming and download. The company have managed and administrated this process on behalf of the artists. The number of artists represented by the label grew to 16 during this, its first year. 18 releases were made by Seahouse Records during this financial year.More local music is now available to stream on all popular music and social media platforms, which has raised the identity of the artists and the town. Much of this music is now regularly played on local radio alongside nationally and internationally recognised artists.The label and its artists have been promoted by the company on its own website, giving the artists a place to direct followers to online to find out more about them, through web pages, blogs and email newsletters.The label and its artists have been featured on regular social media posts on Facebook, Instagram and Twitter, allowing public interaction as well as publicity for artists and their music and events. Monthly live music events have been put on by the company in a variety of locations to bring original live music to the community. Some of these events have been in family-friendly venues and during daytime hours to encourage more children and young people to attend, to give them experience of live music. The company paid for a label account with Amazing Radio, to allow upload of its artist’s music to their website and for consideration for airplay on UK and US Amazing radio stations. All Seahouse artists received airplay at various times on both US and UK stations.
The company’s stakeholders are the artists, and by extension anyone who supports them in musical, technical, managerial or promotional means. All of the company directors are artists on the label too, and so all processes are designed to be fair and transparent. All artists are added to the Seahouse Records WhatsApp group for communication and updates. They are also on an email distribution list. Regular updates are sent out, first of all on WhatsApp if the nature of the topic is informal, or to gauge opinion. After that, follow-ups are made by email, for more formal topics. This can be as a group or on an individual basis, and can include topics such as live performance bookings, or the arrangements for the sharing of audio and artwork files for release. General music industry links, advice and contacts are also shared with the artists this way. Each artist has been designated a director who is responsible for them and is their first point of contact for any queries relating to any Seahouse matters. We call this ‘Artist Liaison’. Each director therefore has three or four artists under their management, and they will guide them through the release process. Artists are also encouraged to contact any director directly for specialist requests, such as website or social media updates. We send each artist a short questionnaire about how they feel about the label and ask for suggestions on how we could improve. We say we are “run by the artists, for the artists”, and this is true: we listen to suggestions from them either verbally or more formally. Artists have also recommended us to other artists, which is a really good way for us to grow as a label too.
No remuneration was received
No transfer of assets other than for full consideration
This report was approved by the board of directors on
21 February 2024
And signed on behalf of the board by:
Name: Matt Kassell
Status: Director