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REGISTERED NUMBER: 09566832 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

ABKCO Music International Limited

ABKCO Music International Limited (Registered number: 09566832)






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


ABKCO Music International Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: JH Klein
R Janairo
A Coleman





REGISTERED OFFICE: Delamere House
Bakers Lane
Stoke Bruerne
Northamptonshire
NN12 7SF





REGISTERED NUMBER: 09566832 (England and Wales)





AUDITORS: MHA
Statutory Auditor
Milton Keynes, UK

ABKCO Music International Limited (Registered number: 09566832)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
CURRENT ASSETS
Cash at bank 1,654,494 2,478,550

CREDITORS
Amounts falling due within one year 5 908,251 1,869,031
NET CURRENT ASSETS 746,243 609,519
TOTAL ASSETS LESS CURRENT
LIABILITIES

746,243

609,519

CAPITAL AND RESERVES
Called up share capital 6 1 1
Retained earnings 746,242 609,518
SHAREHOLDERS' FUNDS 746,243 609,519

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 11 September 2024 and were signed on its behalf by:





JH Klein - Director


ABKCO Music International Limited (Registered number: 09566832)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

ABKCO Music International 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.

2. ACCOUNTING POLICIES

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

The financial statements are presented in British pounds and amounts are rounded to the nearest whole currency unit.

Critical accounting judgements and key sources of estimation uncertainty
Royalty income is recognised on a notified earnings basis.

Other than amounts collected by the company's overseas sub-publishers, royalties derived from the inclusion of the company's rights on recorded music or from performance are recognised when they are earned by the company from the relevant collection society or record company. Similarly, except for overseas amounts, royalties derived from the synchronization of the company's rights are recognised as earned. Royalty amounts collected overseas are recognised in the periods the amounts are reportable to the company by the sub-publisher.

Turnover
Turnover represents royalties and performance fees which are credited to the income statement when invoiced.

ABKCO Music International Limited (Registered number: 09566832)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.


Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Foreign currencies
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

ABKCO Music International Limited (Registered number: 09566832)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Taxation
Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign tax withheld from royalties received is treated as part of the current year tax charge. Refunds of overseas withholding tax received during the year, are treated as credits to the current year tax charge.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. AUDITORS' REMUNERATION
31.12.23 31.12.22
£    £   
Fees payable to the company's auditors for the audit of the
company's financial statements

3,000

3,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed to group undertakings 294,441 1,001,345
Taxation and social security 48,698 52,654
Other creditors 565,112 815,032
908,251 1,869,031

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1 ordinary £1 1 1

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Victoria Brown FCA (Senior Statutory Auditor)
for and on behalf of MHA


MHA is the trading name of MacIntyre Hudson LLP, a limited liability
partnership in England and Wales (registered number OC312313)

ABKCO Music International Limited (Registered number: 09566832)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. ULTIMATE CONTROLLING PARTY

The controlling party is ABKCO Music & Records Inc. a company incorporated in the United States of America which indirectly owns 100% of the issued share capital. The company's results are included in the consolidated accounts of ABKCO Music & Records, Inc which are publicly available from 85, Fifth Avenue, New York, NY, USA.