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REGISTERED NUMBER: 06463279















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

COPYRIGHT ADMINISTRATION SERVICES
LIMITED

COPYRIGHT ADMINISTRATION SERVICES
LIMITED (REGISTERED NUMBER: 06463279)






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


COPYRIGHT ADMINISTRATION SERVICES
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: S P Fawcett
Mrs T J Orchard





REGISTERED OFFICE: 23 High Street
Pewsey
Wiltshire
SN9 5AF





REGISTERED NUMBER: 06463279





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

COPYRIGHT ADMINISTRATION SERVICES
LIMITED (REGISTERED NUMBER: 06463279)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,433,331 1,950,619
Tangible assets 5 14,927 18,948
Investments 6 5,740,826 4,555,744
9,189,084 6,525,311

CURRENT ASSETS
Debtors 7 3,745,501 3,236,838
Cash at bank and in hand 464,257 710,952
4,209,758 3,947,790
CREDITORS
Amounts falling due within one year 8 9,882,800 10,100,217
NET CURRENT LIABILITIES (5,673,042 ) (6,152,427 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,516,042 372,884

CREDITORS
Amounts falling due after more than one year 9 3,133,256 39,213
NET ASSETS 382,786 333,671

CAPITAL AND RESERVES
Called up share capital 85,200 85,200
Retained earnings 297,586 248,471
SHAREHOLDERS' FUNDS 382,786 333,671

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 directors acknowledge their 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 Board of Directors and authorised for issue on 8 August 2024 and were signed on its behalf by:




S P Fawcett - Director


COPYRIGHT ADMINISTRATION SERVICES
LIMITED (REGISTERED NUMBER: 06463279)

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

1. STATUTORY INFORMATION

Copyright Administration Services 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 directors of the company and the connected companies have 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.

Preparation of consolidated financial statements
The financial statements contain information about Copyright Administration Services Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents royalties receivable during the year from music copyrights owned by the company.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Music copyrights are being amortised evenly over their estimated useful life of 20 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
Financial assets and financial liabilities are recognised 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 transaction costs, and are measured subsequently at amortised cost using the effective interest method


COPYRIGHT ADMINISTRATION SERVICES
LIMITED (REGISTERED NUMBER: 06463279)

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

2. ACCOUNTING POLICIES - continued
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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Music
copyrights
£   
COST
At 1 January 2023 2,385,732
Additions 1,612,464
At 31 December 2023 3,998,196
AMORTISATION
At 1 January 2023 435,113
Amortisation for year 129,752
At 31 December 2023 564,865
NET BOOK VALUE
At 31 December 2023 3,433,331
At 31 December 2022 1,950,619

COPYRIGHT ADMINISTRATION SERVICES
LIMITED (REGISTERED NUMBER: 06463279)

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

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 24,368 19,851 5,006 49,225
Additions 3,803 - - 3,803
Disposals (2,740 ) (3,505 ) - (6,245 )
At 31 December 2023 25,431 16,346 5,006 46,783
DEPRECIATION
At 1 January 2023 17,783 7,592 4,902 30,277
Charge for year 3,687 4,086 52 7,825
Eliminated on disposal (2,740 ) (3,506 ) - (6,246 )
At 31 December 2023 18,730 8,172 4,954 31,856
NET BOOK VALUE
At 31 December 2023 6,701 8,174 52 14,927
At 31 December 2022 6,585 12,259 104 18,948

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023 4,555,744
Additions 1,185,082
At 31 December 2023 5,740,826
NET BOOK VALUE
At 31 December 2023 5,740,826
At 31 December 2022 4,555,744

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Atlantic Screen Composers Limited
Registered office: United Kingdom
Nature of business: Publishing of music copyrights
%
Class of shares: holding
Ordinary 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 2,277,578 2,188,292
Profit for the year 89,286 533,870

COPYRIGHT ADMINISTRATION SERVICES
LIMITED (REGISTERED NUMBER: 06463279)

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

6. FIXED ASSET INVESTMENTS - continued

Atlantic Screen International Limited
Registered office: United Kingdom
Nature of business: Publishing of music copyrights
%
Class of shares: holding
Ordinary 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 2,568,150 2,555,773
Profit for the year 12,377 1,082,660

Poetic Soup Limited
Registered office: United Kingdom
Nature of business: Publishing of music copyrights
%
Class of shares: holding
Ordinary 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 174,545 173,508
Profit for the year 1,037 3,925

School House Music Limited
Registered office: United Kingdom
Nature of business: Publishing of music copyrights
%
Class of shares: holding
Ordinary 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 201,475 201,474
Profit for the year 8,001 12,366

VA Music Limited
Registered office: United Kingdom
Nature of business: Publishing of music copyrights
%
Class of shares: holding
Ordinary 63.33
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 152,381 148,916
Profit for the year 3,465 871

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 29,320 38,609
Amounts owed by connected companies 1,325,400 1,035,346
Other debtors 2,390,781 2,162,883
3,745,501 3,236,838

COPYRIGHT ADMINISTRATION SERVICES
LIMITED (REGISTERED NUMBER: 06463279)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 5,956 5,956
Trade creditors 2,470,874 2,310,516
Amounts owed to group undertakings 5,695,395 5,024,076
Amounts owed to connected companies 104,992 2,061,716
Taxation and social security 106,464 72,160
Other creditors 1,499,119 625,793
9,882,800 10,100,217

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 33,256 39,213
Other creditors 3,100,000 -
3,133,256 39,213

Amounts falling due in more than five years:

Repayable by instalments
Bank Loans due after more than
5 years 9,431 15,388
Other loans - long term 3,100,000 -
3,109,431 15,388

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

At the balance sheet date, the following balances were outstanding in respect of connected companies:

Details Relation 2023 2022
£    £   
Debtors:
Filmtrax Ltd Common director 261,494 208,932
ASM One Ltd Common director 140,533 184,043
Atlantic Screen Scores Ltd Common director 517,866 163,906
Atlantic Screen Media Ltd Common director 185,889 185,976
AS Comics Limited Common director 33,241 2,751
Raven Scores Limited 186,377 289,738
1,325,400 1,035,346

Creditors:
Atlantic Screen Holdings Ltd Associated company 100,596 2,054,242
CAS Music Australia Pty Ltd Common director 4,396 7,474
104,992 2,061,716




COPYRIGHT ADMINISTRATION SERVICES
LIMITED (REGISTERED NUMBER: 06463279)

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

11. ULTIMATE PARENT AND CONTROLLING PARTY

The company is a subsidiary of Atlantic Screen Music Ltd, a company registered in Ireland. The directors consider Atlantic Screen Music Ltd to be the ultimate controlling party.