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REGISTERED NUMBER: 08793967 (England and Wales)












REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

MUSIC CONCIERGE WORLDWIDE LIMITED

MUSIC CONCIERGE WORLDWIDE LIMITED (REGISTERED NUMBER: 08793967)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3

Notes to the Financial Statements 5


MUSIC CONCIERGE WORLDWIDE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2024







DIRECTORS: A Pitman
R M Wood





REGISTERED OFFICE: Brickendonbury
Brickendon Lane
Hertford
Hertfordshire
SG13 8NP





REGISTERED NUMBER: 08793967 (England and Wales)





ACCOUNTANTS: Cook & Partners Limited
Manufactory House
Bell Lane
Hertford
Hertfordshire
SG14 1BP

MUSIC CONCIERGE WORLDWIDE LIMITED (REGISTERED NUMBER: 08793967)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST DECEMBER 2024

The directors present their report with the financial statements of the company for the year ended 31st December 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st January 2024 to the date of this report.

A Pitman
R M Wood

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:





A Pitman - Director


5th March 2025

MUSIC CONCIERGE WORLDWIDE LIMITED (REGISTERED NUMBER: 08793967)

BALANCE SHEET
31ST DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 911,401 827,542
Tangible assets 5 154,241 163,190
Investments 6 425,169 153,885
1,490,811 1,144,617

CURRENT ASSETS
Stocks 405,171 258,722
Debtors 7 859,692 1,075,803
Cash at bank 210,610 128,642
1,475,473 1,463,167
CREDITORS
Amounts falling due within one year 8 2,522,298 2,237,097
NET CURRENT LIABILITIES (1,046,825 ) (773,930 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

443,986

370,687

PROVISIONS FOR LIABILITIES - 23,940
NET ASSETS 443,986 346,747

CAPITAL AND RESERVES
Called up share capital 111 111
Revaluation reserve 9 37,357 -
Retained earnings 406,518 346,636
SHAREHOLDERS' FUNDS 443,986 346,747

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

MUSIC CONCIERGE WORLDWIDE LIMITED (REGISTERED NUMBER: 08793967)

BALANCE SHEET - continued
31ST DECEMBER 2024


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.

The financial statements were approved by the Board of Directors and authorised for issue on 5th March 2025 and were signed on its behalf by:





A Pitman - Director


MUSIC CONCIERGE WORLDWIDE LIMITED (REGISTERED NUMBER: 08793967)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024

1. STATUTORY INFORMATION

Music Concierge Worldwide 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

Going concern justification
The directors have assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The directors have not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date. Therefore the financial statements for the year ended 31 December 2024 have been prepared using the going concern basis of accounting.

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

Revenue - Described as turnover - is the value of goods (net of VAT) provided to customers during the year, plus the value of work (net of VAT) performed during the year with respect to services.

Revenue is recognised on the sale of goods when the goods are delivered and title has passed. Revenue is recognised on the provision of services once completed.

Goodwill
In 2023, the company acquired both Kaleidovision Limited and Music Concierge Limited.

Goodwill, being the amount paid in connection with these two acquisitions, is being amortised evenly over its estimated useful life of 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% Straight Line

The revaluation method has been adopted in relation to other investment assets.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

MUSIC CONCIERGE WORLDWIDE LIMITED (REGISTERED NUMBER: 08793967)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 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 operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2023 - 43 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1st January 2024 575,000 319,191 894,191
Additions - 176,839 176,839
At 31st December 2024 575,000 496,030 1,071,030
AMORTISATION
At 1st January 2024 57,500 9,149 66,649
Charge for year 57,500 35,480 92,980
At 31st December 2024 115,000 44,629 159,629
NET BOOK VALUE
At 31st December 2024 460,000 451,401 911,401
At 31st December 2023 517,500 310,042 827,542

MUSIC CONCIERGE WORLDWIDE LIMITED (REGISTERED NUMBER: 08793967)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST OR VALUATION
At 1st January 2024 294,909
Additions 41,603
Disposals (62,029 )
Revaluations 37,357
At 31st December 2024 311,840
DEPRECIATION
At 1st January 2024 131,719
Charge for year 65,266
Eliminated on disposal (39,386 )
At 31st December 2024 157,599
NET BOOK VALUE
At 31st December 2024 154,241
At 31st December 2023 163,190


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st January 2024 153,885
Additions 271,284
At 31st December 2024 425,169
NET BOOK VALUE
At 31st December 2024 425,169
At 31st December 2023 153,885

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 573,428 623,445
Amounts owed by group undertakings 28,559 272,483
Other debtors 81,738 59,220
Directors' current accounts 86,692 86,758
Tax - 6,249
VAT 18,756 -
Deferred tax asset 1,499 -
Prepayments 69,020 27,648
859,692 1,075,803

MUSIC CONCIERGE WORLDWIDE LIMITED (REGISTERED NUMBER: 08793967)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 177 -
Trade creditors 452,889 145,391
Amounts owed to group undertakings 164,334 59,267
Social security and other taxes 121,021 52,641
VAT - 18,657
Other creditors 353,935 731,714
Accrued expenses 1,429,942 1,229,427
2,522,298 2,237,097

9. RESERVES
Revaluation
reserve
£   
Asset revaluation 37,357

At 31st December 2024 37,357