Silverfin false false 30/06/2024 01/07/2023 30/06/2024 J Benedict 15/02/2017 S Benedict 15/02/2017 13 March 2025 The principal activity of the company is that of sound recording and music publishing activities. 10620426 2024-06-30 10620426 bus:Director1 2024-06-30 10620426 bus:Director2 2024-06-30 10620426 2023-06-30 10620426 core:CurrentFinancialInstruments 2024-06-30 10620426 core:CurrentFinancialInstruments 2023-06-30 10620426 core:ShareCapital 2024-06-30 10620426 core:ShareCapital 2023-06-30 10620426 core:RetainedEarningsAccumulatedLosses 2024-06-30 10620426 core:RetainedEarningsAccumulatedLosses 2023-06-30 10620426 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-06-30 10620426 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-06-30 10620426 bus:OrdinaryShareClass1 2024-06-30 10620426 2023-07-01 2024-06-30 10620426 bus:FilletedAccounts 2023-07-01 2024-06-30 10620426 bus:SmallEntities 2023-07-01 2024-06-30 10620426 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 10620426 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10620426 bus:Director1 2023-07-01 2024-06-30 10620426 bus:Director2 2023-07-01 2024-06-30 10620426 2022-07-01 2023-06-30 10620426 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 10620426 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 10620426 1 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10620426 (England and Wales)

THE AMBIENT ZONE LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

THE AMBIENT ZONE LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

THE AMBIENT ZONE LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 June 2024
THE AMBIENT ZONE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2024
Note 2024 2023
£ £
Current assets
Stocks 1,045 1,045
Debtors 3 38,219 21,605
Cash at bank and in hand 26,454 41,635
65,718 64,285
Creditors: amounts falling due within one year 4 ( 32,394) ( 20,765)
Net current assets 33,324 43,520
Total assets less current liabilities 33,324 43,520
Net assets 33,324 43,520
Capital and reserves
Called-up share capital 5 2 2
Profit and loss account 33,322 43,518
Total shareholders' funds 33,324 43,520

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of The Ambient Zone Limited (registered number: 10620426) were approved and authorised for issue by the Board of Directors on 13 March 2025. They were signed on its behalf by:

J Benedict
Director
S Benedict
Director
THE AMBIENT ZONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
THE AMBIENT ZONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Ambient Zone Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Leman Street, London, E1W 9US, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

The primary source of revenue of the company is music publishing revenues. Consistent with industry practice, music publishing revenues are generally recognised when received. All other revenues and expenses of the company are recorded using the accruals basis of accounting.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, 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.

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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Debtors

2024 2023
£ £
Amounts owed by related parties 33,151 16,351
Other debtors 5,068 5,254
38,219 21,605

4. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 0 8
Taxation and social security 2,488 7,783
Other creditors 29,906 12,974
32,394 20,765

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

6. Ultimate controlling party

The company was under the control of its directors who own 100% of the issued share capital.