Silverfin false false 30/06/2024 01/07/2023 30/06/2024 J Benedict 26/05/1991 S Benedict 26/05/1991 13 March 2025 The principal activity of the company during the year was managing and promoting recording artists, songwriters and producers. In addition, the company continues to supply consultancy services. 01680888 2024-06-30 01680888 bus:Director1 2024-06-30 01680888 bus:Director2 2024-06-30 01680888 2023-06-30 01680888 core:CurrentFinancialInstruments 2024-06-30 01680888 core:CurrentFinancialInstruments 2023-06-30 01680888 core:ShareCapital 2024-06-30 01680888 core:ShareCapital 2023-06-30 01680888 core:RetainedEarningsAccumulatedLosses 2024-06-30 01680888 core:RetainedEarningsAccumulatedLosses 2023-06-30 01680888 core:OtherPropertyPlantEquipment 2023-06-30 01680888 core:OtherPropertyPlantEquipment 2024-06-30 01680888 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2024-06-30 01680888 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2023-06-30 01680888 bus:OrdinaryShareClass1 2024-06-30 01680888 bus:OrdinaryShareClass2 2024-06-30 01680888 2023-07-01 2024-06-30 01680888 bus:FilletedAccounts 2023-07-01 2024-06-30 01680888 bus:SmallEntities 2023-07-01 2024-06-30 01680888 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 01680888 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 01680888 bus:Director1 2023-07-01 2024-06-30 01680888 bus:Director2 2023-07-01 2024-06-30 01680888 core:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 01680888 2022-07-01 2023-06-30 01680888 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 01680888 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 01680888 bus:OrdinaryShareClass2 2023-07-01 2024-06-30 01680888 bus:OrdinaryShareClass2 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 01680888 (England and Wales)

JUST ANOTHER COMPANY LTD

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

JUST ANOTHER COMPANY LTD

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

JUST ANOTHER COMPANY LTD

STATEMENT OF FINANCIAL POSITION

As at 30 June 2024
JUST ANOTHER COMPANY LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 15,145 17,817
15,145 17,817
Current assets
Stocks 38,337 29,518
Debtors 4 ( 51,819) ( 20,211)
Cash at bank and in hand 1,436,597 1,115,090
1,423,115 1,124,397
Creditors: amounts falling due within one year 5 ( 414,710) ( 278,985)
Net current assets 1,008,405 845,412
Total assets less current liabilities 1,023,550 863,229
Net assets 1,023,550 863,229
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 1,023,450 863,129
Total shareholders' funds 1,023,550 863,229

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 Just Another Company Ltd (registered number: 01680888) 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
JUST ANOTHER COMPANY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
JUST ANOTHER COMPANY LTD

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

Just Another Company Ltd (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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Employee benefits

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

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Comprehensive Income in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

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.

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 creditors: amounts falling due within one year.

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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Advances to artists

Advances to artists are assessed and the value of the unrecouped portion to be included in debtors is determined by the prospects of future recoupment, based on past sales performances, current popularity and projected sales.

2. Employees

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

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 July 2023 55,428 55,428
At 30 June 2024 55,428 55,428
Accumulated depreciation
At 01 July 2023 37,611 37,611
Charge for the financial year 2,672 2,672
At 30 June 2024 40,283 40,283
Net book value
At 30 June 2024 15,145 15,145
At 30 June 2023 17,817 17,817

4. Debtors

2024 2023
£ £
Trade debtors 18,975 13,521
Amounts owed by connected companies 7,401 12,401
Corporation tax 1,702 1,702
Other debtors ( 79,897) ( 47,835)
( 51,819) ( 20,211)

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 2,006 2,240
Taxation and social security 114,147 90,202
Other creditors 298,557 186,543
414,710 278,985

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
50 Ordinary A shares of £ 1.00 each 50 50
50 Ordinary shares of £ 1.00 each 50 50
100 100

7. Related party transactions

Other related party transactions

2024 2023
£ £
Other related parties (33,093) (16,293)
Other related parties 7,401 12,401
Key management personnel 73,177 36,807

8. Ultimate controlling party

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