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REGISTERED NUMBER: 05916400 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

FIRSTWORKS MUSIC INTERNATIONAL LIMITED

FIRSTWORKS MUSIC INTERNATIONAL LIMITED (REGISTERED NUMBER: 05916400)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FIRSTWORKS MUSIC INTERNATIONAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: E N Cox
T Prior
H Cox





SECRETARY: E M Prior





REGISTERED OFFICE: First Floor, Jebsen House
53-61 High Street
Ruislip
Middlesex
HA4 7BD





REGISTERED NUMBER: 05916400 (England and Wales)





ACCOUNTANTS: Sproull & Co.
Chartered Accountants
First Floor, Jebsen House
53-61 High Street
Ruislip
Middlesex
HA4 7BD

FIRSTWORKS MUSIC INTERNATIONAL LIMITED (REGISTERED NUMBER: 05916400)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 1,575,831 1,034,212
Cash at bank 1,192,116 1,028,808
2,767,947 2,063,020
CREDITORS
Amounts falling due within one year 5 1,814,585 1,106,808
NET CURRENT ASSETS 953,362 956,212
TOTAL ASSETS LESS CURRENT
LIABILITIES

953,362

956,212

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings 953,342 956,192
SHAREHOLDERS' FUNDS 953,362 956,212

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20th September 2024 and were signed on its behalf by:



T Prior - Director


FIRSTWORKS MUSIC INTERNATIONAL LIMITED (REGISTERED NUMBER: 05916400)

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


1. STATUTORY INFORMATION

Firstworks 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.

Related party exemption
The company has taken advantage of the exemption available in accordance with the Financial Reporting Standard 102, Section 33.1A, 'Related Party Disclosures' not to disclose transactions entered and outstanding balances between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Taxation
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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Royalties and productions costs
Production costs are written off in their entirety in the year in which they fall due for payment. Provision is made for royalties payable on all receipts during the year. Credit is taken for royalties received at the date of receipt.

3. EMPLOYEES AND DIRECTORS

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

FIRSTWORKS MUSIC INTERNATIONAL LIMITED (REGISTERED NUMBER: 05916400)

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


4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 73,629 54,277
Amounts owed by group undertakings 1,502,202 979,488
Other debtors - 447
1,575,831 1,034,212

The amounts owed by group undertakings are interest-free, unsecured and repayable on demand.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 6,721 19,648
Amounts owed to group undertakings 755,817 202,391
Taxation and social security 7,361 9,555
Other creditors 1,044,686 875,214
1,814,585 1,106,808

The amounts owed to group undertakings are interest-free, unsecured and repayable on demand.

6. SECURED DEBTS

The Royal Bank of Scotland Plc holds a fixed and floating charge over all the assets of the company.

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is West One Music Group limited.