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Registered number: 08148139














LA CLIQUE MUSIC INTERNATIONAL LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

 
LA CLIQUE MUSIC INTERNATIONAL LIMITED
REGISTERED NUMBER:08148139

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
7,258
7,371

  
7,258
7,371

Current assets
  

Debtors: amounts falling due within one year
 5 
196,668
199,651

Cash at bank
 6 
56,731
8,027

  
253,399
207,678

Creditors: amounts falling due within one year
 7 
(375,978)
(327,646)

Net current liabilities
  
 
 
(122,579)
 
 
(119,968)

Total assets less current liabilities
  
(115,321)
(112,597)

Provisions for liabilities
  

Deferred tax
  
-
(1,843)

  
 
 
-
 
 
(1,843)

Net liabilities
  
(115,321)
(114,440)


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
(115,421)
(114,540)

  
(115,321)
(114,440)


Page 1

 
LA CLIQUE MUSIC INTERNATIONAL LIMITED
REGISTERED NUMBER:08148139
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

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: 




F D Moupondo
Director

Date: 30 October 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
LA CLIQUE MUSIC INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

La Clique Music International Limited is a private company, limited by shares, registered in England and Wales, registration number 08148139. 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, music production and music event management

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

Going concern

On the basis of information and enquiries that are pertinent to the company’s circumstances and which the directors believe to be adequate, it is appropriate to continue to treat the company as a going concern. In particular, the directors believe that adequate cash resources will be available to cover the company’s requirements for working capital for at least twelve months from the date of signing the financial statements and confirms that it continued to receive support from its directors.

 
2.3

Foreign currency translation

Functional and presentation currency

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

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each year end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within 'administrative expenses'. All other foreign exchange gains and losses are presented in profit or loss.

Page 3

 
LA CLIQUE MUSIC INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
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 the music publishing, music production and music event management is recognised when it is probable the company will receive the rights to the consideration due under the contract.

Royalties receivable are recognised at the year end date by the company.

Advances received 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.

 
2.5

Interest income

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

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25% reducing balance
Studio equipment
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
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.

Page 4

 
LA CLIQUE MUSIC INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
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 trade and other debtors, trade and other creditors and loans with related parties.

 
2.11

 Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).


4.


Tangible fixed assets





Office equipment
Other fixed assets
Total

£
£
£



Cost 


At 1 July 2022
8,953
22,838
31,791


Additions
2,307
-
2,307



At 30 June 2023

11,260
22,838
34,098



Depreciation


At 1 July 2022
6,700
17,720
24,420


Charge for the year
1,140
1,280
2,420



At 30 June 2023

7,840
19,000
26,840



Net book value



At 30 June 2023
3,420
3,838
7,258



At 30 June 2022
2,253
5,118
7,371

Page 5

 
LA CLIQUE MUSIC INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Debtors

2023
2022
£
£


Trade debtors
11,082
40,903

Amounts owed by connected companies
132,275
105,474

Other debtors
52,437
53,067

Prepayments
874
207

196,668
199,651



6.


Cash

2023
2022
£
£

Cash at bank
56,731
8,027



7.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
74,662
30,602

Amounts owed to connected companies
-
31,033

Other taxation and social security
8,466
-

Other creditors
288,350
259,511

Accruals
4,500
6,500

375,978
327,646



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) ordinary shares of £1.00 each
100
100



9.


Transactions with directors

At the year end the company owed £262,798 (2022 - £259,511) to the directors. The loans are unsecured, interest free and repayable on demand. 

Page 6

 
LA CLIQUE MUSIC INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

10.


Related party transactions

As at the year end, the connected companies owed £132,275 (2022 - £105,474). The loans are interest free and repayable on demand.
As at the year end the connected companies were owed £NIL (2022 - £31,033). The loans are interest free and repayable on demand.  

 
Page 7