2 false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 06362994 2023-01-01 2023-12-31 06362994 2023-12-31 06362994 2022-12-31 06362994 2022-01-01 2022-12-31 06362994 2022-12-31 06362994 2021-12-31 06362994 core:FurnitureFittings 2023-01-01 2023-12-31 06362994 core:MotorVehicles 2023-01-01 2023-12-31 06362994 bus:Director3 2023-01-01 2023-12-31 06362994 core:FurnitureFittings 2022-12-31 06362994 core:MotorVehicles 2022-12-31 06362994 core:FurnitureFittings 2023-12-31 06362994 core:MotorVehicles 2023-12-31 06362994 core:WithinOneYear 2023-12-31 06362994 core:WithinOneYear 2022-12-31 06362994 core:ShareCapital 2023-12-31 06362994 core:ShareCapital 2022-12-31 06362994 core:RetainedEarningsAccumulatedLosses 2023-12-31 06362994 core:RetainedEarningsAccumulatedLosses 2022-12-31 06362994 core:MotorVehicles 2022-12-31 06362994 bus:SmallEntities 2023-01-01 2023-12-31 06362994 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 06362994 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06362994 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06362994 bus:FullAccounts 2023-01-01 2023-12-31 06362994 core:ComputerEquipment 2023-01-01 2023-12-31 06362994 core:ComputerEquipment 2023-12-31 06362994 core:ComputerEquipment 2022-12-31
COMPANY REGISTRATION NUMBER: 06362994
Warner Chappell Music AG Limited
Filleted Unaudited Financial Statements
31 December 2023
Warner Chappell Music AG Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Balance sheet
1
Notes to the financial statements
3
Warner Chappell Music AG Limited
Balance Sheet
31 December 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
43,407
60,009
Current assets
Debtors
6
182,164
268,356
Cash at bank and in hand
1,125,959
1,239,731
------------
------------
1,308,123
1,508,087
Creditors: amounts falling due within one year
7
( 318,255)
( 330,068)
------------
------------
Net current assets
989,868
1,178,019
------------
------------
Total assets less current liabilities
1,033,275
1,238,028
Provisions
Taxation including deferred tax
( 3,337)
( 5,838)
------------
------------
Net assets
1,029,938
1,232,190
------------
------------
Warner Chappell Music AG Limited
Balance Sheet (continued)
31 December 2023
2023
2022
Note
£
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,029,838
1,232,090
------------
------------
Shareholders funds
1,029,938
1,232,190
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 19 September 2024 , and are signed on behalf of the board by:
Ms K E Alderton
Director
Company registration number: 06362994
Warner Chappell Music AG Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Cannon Place, 78 Cannon Street, London, EC4N 6AF.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Deferred tax is recognised in respect of all timing differences at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and Fittings
-
33% straight line
Motor Vehicles
-
25% reducing balance
Equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 1 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 January 2023 and 31 December 2023
51,703
113,426
15,476
180,605
--------
---------
--------
---------
Depreciation
At 1 January 2023
51,703
57,113
11,780
120,596
Charge for the year
14,078
2,524
16,602
--------
---------
--------
---------
At 31 December 2023
51,703
71,191
14,304
137,198
--------
---------
--------
---------
Carrying amount
At 31 December 2023
42,235
1,172
43,407
--------
---------
--------
---------
At 31 December 2022
56,313
3,696
60,009
--------
---------
--------
---------
6. Debtors
2023
2022
£
£
Other debtors
182,164
268,356
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
551
630
Corporation tax
35,843
Social security and other taxes
2,768
2,250
Other creditors
314,936
291,345
---------
---------
318,255
330,068
---------
---------
8. Directors' advances, credits and guarantees
The director had an interest-free, repayable on demand loan with the company during the year. At the beginning of the year the company owed her £335 and at the end of the year the company owed her £662.
9. Related party transactions
The company was owed £114,623 (2022: £123,551) from a company which a director owns 100% of the share capital. The company owed £243,653 (2022: £243,666) to a company which a director owns 100% of the share capital.