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REGISTERED NUMBER: 01296905 (England and Wales)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 29 February 2024

for

Focus Business Management Limited

Focus Business Management Limited (Registered number: 01296905)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3

Notes to the Financial Statements 5


Focus Business Management Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mr A J Taylor
Mr D Shackleton
Mr G J Podemsky





REGISTERED OFFICE: Matrix Studio Complex
91 Peterborough Road
London
SW6 3BU





REGISTERED NUMBER: 01296905 (England and Wales)

Focus Business Management Limited (Registered number: 01296905)

Report of the Directors
for the Year Ended 29 February 2024

The directors present their report with the financial statements of the company for the year ended 29 February 2024.

DIRECTORS
Mr A J Taylor has held office during the whole of the period from 1 March 2023 to the date of this report.

Other changes in directors holding office are as follows:

Mr R C Smallwood - resigned 23 July 2023
Mr D Shackleton - appointed 21 July 2023
Mr G J Podemsky - appointed 21 July 2023

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr A J Taylor - Director


27 November 2024

Focus Business Management Limited (Registered number: 01296905)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £   
CURRENT ASSETS
Debtors 4 500,735 514,958
Cash at bank 5 46,306 65,983
547,041 580,941
CREDITORS
Amounts falling due within one year 6 253,259 288,435
NET CURRENT ASSETS 293,782 292,506
TOTAL ASSETS LESS CURRENT
LIABILITIES

293,782

292,506

CAPITAL AND RESERVES
Called up share capital 101 101
Share premium 1,093,739 1,093,739
Retained earnings (800,058 ) (801,334 )
SHAREHOLDERS' FUNDS 293,782 292,506

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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 Statement of Income and Retained Earnings has not been delivered.

Focus Business Management Limited (Registered number: 01296905)

Balance Sheet - continued
29 February 2024



The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:





Mr A J Taylor - Director


Focus Business Management Limited (Registered number: 01296905)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Focus Business Management 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.

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

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the normal amount received is recognised as interest income.

Focus Business Management Limited (Registered number: 01296905)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Where investments in a non-derivative financial instrument that is equity of the issuer is publicly traded or the fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.


Focus Business Management Limited (Registered number: 01296905)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Pension costs and other post-retirement benefits
The company is a member of The Phantom Music Management Limited group defined contribution pension scheme. Contributions to the defined contribution pension scheme are expensed in the period which they relate.

Debtors and creditors
Short term debtors, classified as receivable in one year, 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.

Short term creditors, classified as payable in one year, are measured at the transaction price. Other financial liabilities including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 158,489 98,157
Amounts owed by group undertakings - 210,155
Other debtors 342,246 206,646
500,735 514,958

Focus Business Management Limited (Registered number: 01296905)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. CASH AT BANK

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 under current liabilities.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 158,386 256,016
Amounts owed to group undertakings 73,511 -
Taxation and social security 20,162 27,471
Other creditors 1,200 4,948
253,259 288,435

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
29.2.24 28.2.23
£    £   
Within one year 25,375 43,500
Between one and five years - 25,375
25,375 68,875

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9. ULTIMATE CONTROLLING PARTY

RESTATED: For past accounts the ultimate parent company is 'Phantom Music Management Ltd' (Co No: 05919540. Registered office address: Matrix Studios, 91 Peterborough Road, London, England, SW6 3BU. A company register in England and Wales). Incorrect disclosure had been made to the ultimate controlling parties of the parent company (Phantom Music Management Ltd) in past accounts. There is no ultimate controlling party of the parent company (Phantom Music Management Ltd) due to the nature of the share ownership nor through any other powers.