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
Berkeley Music Limited
Company Information
for the year ended 31 December 2023
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
Berkeley Music Limited
Statement of financial position
as at 31 December 2023
Cash at bank and in hand
271,922
263,464
Creditors: amounts falling due within one year
(27,115)
(35,940)
Net current assets
246,174
229,098
Net assets
246,174
229,098
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
Berkeley Music Limited
Notes to the Accounts
for the year ended 31 December 2023
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.
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.
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 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.
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.
The financial statements are presented in sterling and this is also the functional currency of the company.
Berkeley Music Limited
Notes to the Accounts
for the year ended 31 December 2023
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 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.
Amounts falling due within one year
5
Creditors: amounts falling due within one year
2023
2022
Trade creditors
21,370
28,163
Taxes and social security
4,010
6,251
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Average number of employees
During the year the average number of employees was 1 (2022: 1).