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OPAL MUSIC HOLDINGS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Opal Music Holdings Limited is a private company, limited by shares, registered in England and Wales, registration number 07192101. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
The principal place of business is 4 Pembridge Mews, London, W11 3EQ.
The principal activity of the company continued to be that of an investment holding company.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of the Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
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Functional and presentation currency
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The company's functional and presentational currency is pound sterling.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates and other sales taxes.
Dividend income is recognised in the year in which the related dividends from investments are actually received.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short-term creditors are measured at the transaction price.
The company enters into basic financial instrument transactions that result in the recognition of financial liabilities such as loans with related parties.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholder at an annual general meeting.
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The average monthly number of employees, including a director, during the year was 1 (2022 - 1).
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