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REGISTERED NUMBER: 09695333 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ASM ONE LIMITED

ASM ONE LIMITED (REGISTERED NUMBER: 09695333)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ASM ONE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: S P Fawcett





REGISTERED OFFICE: 23 High Street
Pewsey
Wiltshire
SN9 5AF





REGISTERED NUMBER: 09695333 (England and Wales)





ACCOUNTANTS: Macalvins Limited
Chartered Accountants
7 St John's Road
Harrow
Middlesex
HA1 2EY

ASM ONE LIMITED (REGISTERED NUMBER: 09695333)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 444,844 473,522

CURRENT ASSETS
Debtors 5 70,538 140,673
Cash at bank 94 18,503
70,632 159,176
CREDITORS
Amounts falling due within one year 6 243,823 279,853
NET CURRENT LIABILITIES (173,191 ) (120,677 )
TOTAL ASSETS LESS CURRENT LIABILITIES 271,653 352,845

CREDITORS
Amounts falling due after more than one year 7 58,788 150,403
NET ASSETS 212,865 202,442

CAPITAL AND RESERVES
Called up share capital 2,850 2,850
Share premium Account 133,650 133,650
Retained earnings 76,365 65,942
SHAREHOLDERS' FUNDS 212,865 202,442

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 August 2024 and were signed by:





S P Fawcett - Director


ASM ONE LIMITED (REGISTERED NUMBER: 09695333)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

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

Going Concern:
The financial statements have been prepared on a going concern basis not withstanding the company's net current liabilities position as at the year end. The connected company has provided with an undertaking that they will continue to support financially for the foreseeable future and that they will not seek repayment of the amounts currently owing to them in the twelve months from the date of signing the financial statements.

Turnover
Turnover represents royalties received from music copyrights during the year.

Revenue recognition
Royalties from music copyrights is recognised by the company in the accounting period in which they relate to.

Financial instruments
Financial assets and liabilities are recognized in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument.

Loans and Borrowings
Loans and borrowings are measured initially at fair value, net of transactions costs and are measured subsequently at amortised cost using the effective interest method.

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 balance sheet date.

Music copyrights
Music Copyrights are valued at cost less accumulated amortisation.
Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 20 years.

Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All differences are taken to the Profit and Loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

ASM ONE LIMITED (REGISTERED NUMBER: 09695333)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. INTANGIBLE FIXED ASSETS
Music
Copyright
£   
COST
At 1 January 2023
and 31 December 2023 573,554
AMORTISATION
At 1 January 2023 100,032
Amortisation for year 28,678
At 31 December 2023 128,710
NET BOOK VALUE
At 31 December 2023 444,844
At 31 December 2022 473,522

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 70,538 140,673

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts (see note 8) 91,615 84,797
Amounts owed to related company 140,533 184,043
Taxation and social security 8,004 5,800
Other creditors 3,671 5,213
243,823 279,853

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans (see note 8) 58,788 150,403

Amounts falling due in more than five years:

Repayable by instalments
Bank Loans due after more than
5 years 2,953 5,038
2,953 5,038

8. LOANS

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
£    £   
Amounts falling due within one year or on demand:
Bank loans within 1 year 91,615 84,797

ASM ONE LIMITED (REGISTERED NUMBER: 09695333)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. LOANS - continued
31.12.23 31.12.22
£    £   
Amounts falling due between one and two years:
Bank loans - 1 - 2 years 49,581 91,615

Amounts falling due between two and five years:
Bank loans - 2 - 5 years 6,254 53,750

Amounts falling due in more than five years:

Repayable by instalments
Bank Loans due after more than
5 years 2,953 5,038
2,953 5,038

9. SECURED DEBTS

The bank loans are secured by a fixed and floating charge over the assets of the company. Interest is charged at 8% and loans are due for repayment in March 2025.

10. RELATED PARTY DISCLOSURES

Included within creditors as at the year end is £140,533 (2022: £184,043), an amount owed to Copyright Administration Services Limited, a company where Mr. Simon Fawcett is also the director. The amount owed is unsecured and there are no specific terms to the repayment of this amount.