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Registered number: 03914397














4AD MUSIC LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
4AD MUSIC LIMITED
REGISTERED NUMBER:03914397

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
3,751
4,288

Cash at bank
 5 
1,463
2,446

  
5,214
6,734

Creditors: amounts falling due within one year
 6 
(179,631)
(171,433)

Net current liabilities
  
 
 
(174,417)
 
 
(164,699)

Total assets less current liabilities
  
(174,417)
(164,699)

  

Net liabilities
  
(174,417)
(164,699)


Capital and reserves
  

Called up share capital 
 7 
2
2

Profit and loss account
  
(174,419)
(164,701)

  
(174,417)
(164,699)


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A Heath
Director

Date: 13 September 2024

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
4AD MUSIC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

4AD Music Limited is a private company, limited by shares, registered in England and Wales, registration number 03914397. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE. 

The principal activity of the company continued to be that of music publishing. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of the Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

  
2.2

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

 
2.3

Going concern

The financial statements have been prepared on the going concern basis as the shareholders have confirmed to continue to provide necessary funding in order for the company to maintain operations and meet liabilities in full for at least the next 12 months. On this basis, the directors are satisfied that the financial statements should be prepared on a going concern basis.

  
2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from music publishing is recognised when it is probable the company will receive the rights to the consideration due under the contract.

  
2.5

Royalties

Royalties receivable are recognised at the year end date by the company.
Royalties payable are calculated by reference to statements of account used for determining royalties receivable.

  
2.6

Advances

(i) Advances from licences are carried forward as deferred income until the earlier of recoupment
against contractual royalties due, agreement expiry or recognition that recoupment is unlikely to
take place.

(ii) Advances made to artists in respect of future royalties are treated as current assets and written off to the profit and loss account when the royalties are recognised. Provision is made against an advance where it is considered that recoupment is unlikely to take place.

Page 2

 
4AD MUSIC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

 Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

 Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as other debtors, trade and other creditors, and loans with related parties.

 
2.11

 Interest income

Interest income is recognised in profit or loss using the effective interest method.


3.


Employees

The average monthly number of employees, including the directors, during the year was 2 (2022 - 2).


4.


Debtors

2023
2022
£
£


Other debtors
3,751
4,288



5.


Cash

2023
2022
£
£

Cash at bank
1,463
2,446


Page 3

 
4AD MUSIC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
4,036
3,855

Other creditors
173,315
165,578

Accruals
2,280
2,000

179,631
171,433



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2 (2022 - 2) A Ordinary shares of £1.00 each
2
2


 
Page 4