CONCORD RECORDED MUSIC UK LIMITED

Company Registration Number:
03194604 (England and Wales)

Unaudited abridged accounts for the year ended 30 December 2022

Period of accounts

Start date: 01 January 2022

End date: 30 December 2022

CONCORD RECORDED MUSIC UK LIMITED

Contents of the Financial Statements

for the Period Ended 30 December 2022

Balance sheet
Notes

CONCORD RECORDED MUSIC UK LIMITED

Balance sheet

As at 30 December 2022


Notes

2022

2021


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 0 413,434
Investments:   0 0
Total fixed assets: 0 413,434
Current assets
Stocks: 86,001 233,915
Debtors:   6,795,388 18,031,422
Cash at bank and in hand: 1,121,428 1,138,107
Investments:   0 0
Total current assets: 8,002,817 19,403,444
Creditors: amounts falling due within one year:   (7,970,778) (18,930,085)
Net current assets (liabilities): 32,039 473,359
Total assets less current liabilities: 32,039 886,793
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Total net assets (liabilities): 32,039 886,793
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: 31,039 885,793
Shareholders funds: 32,039 886,793

The notes form part of these financial statements

CONCORD RECORDED MUSIC UK LIMITED

Balance sheet statements

For the year ending 30 December 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 13 March 2024
and signed on behalf of the board by:

Name: Kent Hoskins
Status: Director

The notes form part of these financial statements

CONCORD RECORDED MUSIC UK LIMITED

Notes to the Financial Statements

for the Period Ended 30 December 2022

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

CONCORD RECORDED MUSIC UK LIMITED

Notes to the Financial Statements

for the Period Ended 30 December 2022

2. Employees

2022 2021
Average number of employees during the period 11 14

CONCORD RECORDED MUSIC UK LIMITED

Notes to the Financial Statements

for the Period Ended 30 December 2022

3. Tangible Assets

Total
Cost £
At 01 January 2022 413,434
Disposals (413,434)
At 30 December 2022 0
Net book value
At 30 December 2022 0
At 31 December 2021 413,434

CONCORD RECORDED MUSIC UK LIMITED

Notes to the Financial Statements

for the Period Ended 30 December 2022

4. Related party transactions

Name of the related party: Kidz Bop Enterprises, LLC
Relationship:
group undertaking
Description of the Transaction: affiliate is a customer of the company
£
Balance at 01 January 2022 1,504,658
Balance at 30 December 2022 3,937,507
Name of the related party: Concord Bicycle Assets, LLC
Relationship:
parent undertaking
Description of the Transaction: arising from funding of investments and working capital
£
Balance at 01 January 2022 11,059,497
Balance at 30 December 2022 2,335,564
Name of the related party: Concord Music Group, Inc
Relationship:
parent undertaking
Description of the Transaction: arising from funding for investment purposes
£
Balance at 01 January 2022 7,047,671
Balance at 30 December 2022 7,141,283
Name of the related party: Concord UK Group Services Ltd
Relationship:
group undertaking
Description of the Transaction: payment for payroll costs processed by the related party
£
Balance at 01 January 2022 29,719
Balance at 30 December 2022 772,335
Name of the related party: Concord RM Assets 1 Ltd
Relationship:
group undertaking
Description of the Transaction: funding for working capital and investment purposes
£
Balance at 01 January 2022 15,964,272
Balance at 30 December 2022 143,831
Name of the related party: Concord Music GmbH
Relationship:
group undertaking
Description of the Transaction: operational European matters
£
Balance at 01 January 2022 0
Balance at 30 December 2022 22,953