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Company Registration No. 02470247 (England and Wales)
Berkeley Music Limited Unaudited accounts for the year ended 31 December 2023
Berkeley Music Limited Unaudited accounts Contents
Page
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Berkeley Music Limited Company Information for the year ended 31 December 2023
Director
R M B Portman
Secretary
G P Shadbolt
Company Number
02470247 (England and Wales)
Registered Office
Flat 123 Queen Alexandra Mansions Tonbridge Street London London WC1H 9DW England
Accountants
Bipin Kotecha 123 Queen Alexandra Mansions Tonbridge Street LONDON WC1H 9DW
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Berkeley Music Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Debtors
1,367 
1,574 
Cash at bank and in hand
271,922 
263,464 
273,289 
265,038 
Creditors: amounts falling due within one year
(27,115)
(35,940)
Net current assets
246,174 
229,098 
Net assets
246,174 
229,098 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
246,074 
228,998 
Shareholders' funds
246,174 
229,098 
For the year ending 31 December 2023 the company was entitled to exemption from audit 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 5 September 2024 and were signed on its behalf by
R M B Portman Director Company Registration No. 02470247
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Berkeley Music Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Berkeley Music Limited is a private company, limited by shares, registered in England and Wales, registration number 02470247. The registered office is Flat 123, Queen Alexandra Mansions, Tonbridge Street, London, London, WC1H 9DW, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with the provisions of FRS 102 Section 1A Small Entities.
Turnover and other revenue
Turnover and other revenue is recognised at fair value of the consideration received or receivable. Furthermore, revenue is recognised when it is probable that economic benefits will flow to the company and the amount of the revenue can be reliably measured. Royalty income Royalty income is recognised on a notified earnings basis. Other than where amounts are collected by the company’s overseas sub-publishers, royalties derived from the inclusion of the company’s copyrights on recorded music products or from performance are recognised when they are earned by the company from the relevant collection society or record company. Similarly, except for overseas collected amounts, royalties derived from the synchronisation of the company’s copyrights are recognised as earned. Royalty amounts collected overseas are recognised in the period the amounts are reportable to the company by the sub-publisher. Interest income Interest income is recognised using the effective interest method.
Royalties payable
Royalties payable are charged to the profit and loss account to the extent that amounts are contractually paid or are payable in respect of the year under review.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Presentation currency
The financial statements are presented in sterling and this is also the functional currency of the company.
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Berkeley Music Limited Notes to the Accounts for the year ended 31 December 2023
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Deferred taxation
Deferred tax represents future tax consequences of transactions recognised in the current or past financial years. Deferred tax is recognised in respect of all timing differences except that deferred tax assets are only recognised to the extent that it is probable that they will be recoverable against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax assets and liabilities are not discounted.
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
1,367 
- 
Other debtors
- 
1,574 
1,367 
1,574 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
21,370 
28,163 
Taxes and social security
4,010 
6,251 
Other creditors
135 
26 
Accruals
1,600 
1,500 
27,115 
35,940 
6
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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