Company registration number 11014717 (England and Wales)
WILSON PAGE LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022
FILLETED ACCOUNTS
WILSON PAGE LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 6
WILSON PAGE LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2022
31 March 2022
- 1 -
31 March 2022
31 October 2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
567
Current assets
Debtors
4
64,912
1,121
Cash at bank and in hand
-
0
33,644
64,912
34,765
Creditors: amounts falling due within one year
5
(30,513)
(2,269)
Net current assets
34,399
32,496
Net assets
34,399
33,063
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
34,398
33,062
Total equity
34,399
33,063

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 22 November 2024 and are signed on its behalf by:
Mr D Siek
Director
Company Registration No. 11014717
WILSON PAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022
- 2 -
1
Accounting policies
Company information

Wilson Page Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Canal Reach, London, N1C 4DB.

1.1
Reporting period

These accounts are presented for a 17 month period following an extention of the company's year end. Therefore, the comparative amounts presented in the financial statements (and the related notes) are not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

These financial statements for the Period ended 31 March 2022 are the first financial statements of Wilson Page Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 November 2019. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

1.3
Going concern

The company has ceased trading in March 2023 after its assets were transferred and as such the financial statements are no longer prepared on the going concern basis. Rather, the financial statements have been prepared on a basis other than going concern. All assets and liabilities have been classified as current.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for music marketing services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from music marketing services is recognised within the period in which the service takes place. For income relating to the services affiliate links, the income will be recognised when the link is utilised for purchase.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
25% straight line per annum

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

WILSON PAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 3 -
1.6
Cash and cash equivalents

Cash and cash equivalents 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 in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

WILSON PAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the Period was:

2022
2020
Number
Number
Total
2
1
WILSON PAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2020
1,681
Additions
2,557
Disposals
(4,238)
At 31 March 2022
-
0
Depreciation and impairment
At 1 November 2020
1,114
Depreciation charged in the Period
743
Eliminated in respect of disposals
(1,857)
At 31 March 2022
-
0
Carrying amount
At 31 March 2022
-
0
At 31 October 2020
567
4
Debtors
2022
2020
Amounts falling due within one year:
£
£
Trade debtors
-
0
520
Amounts owed by group undertakings
33,945
-
0
Other debtors
30,967
601
64,912
1,121
5
Creditors: amounts falling due within one year
2022
2020
£
£
Trade creditors
36
-
0
Corporation tax
9,438
1,359
Other taxation and social security
-
0
546
Other creditors
21,039
364
30,513
2,269
WILSON PAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
- 6 -
6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Emphasis of matter

We draw your attention to note 1.2 to the financial statements which describes the basis of preparation of the financial statements. As described in note 1.2, the company is not considered to be a going concern and the financial statements have been prepared on a basis other than going concern. Our opinion is not qualified in respect of this matter.

Senior Statutory Auditor:
Sam Thomas
Statutory Auditor:
Azets Audit Services
7
Events after the reporting date

On 29 March 2023, the business assets of the company were transfered to another group entity. As a result, the company no longer has a means of generating income.

8
Related party transactions

The company has taken advantage of the exemption available in accordance with FRS 102, section 33 'Related party disclosures' not to disclose transactions entered into 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.

9
Parent company

The ultimate controlling party is Sony Corporation, registered in Tokyo, Japan.

 

The smallest group in which the results of the company are included is The Orchard, EU Limited, with registered office 2 Canal Street, London, United Kingdom. The largest group in which the results of the company are included is Sony Coporation with registered address 1-71 Konan, Minato-ku, Tokyo, 108-0075 Japan.

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