Company Registration No. 06755125 (England and Wales)
Cinemanx Music Limited
Unaudited accounts
for the period from 1 July 2023 to 31 March 2024
Cinemanx Music Limited
Unaudited accounts
Contents
Cinemanx Music Limited
Statement of financial position
as at 31 March 2024
Cash at bank and in hand
4,469
6,448
Creditors: amounts falling due within one year
(30,660)
(17,308)
Net current (liabilities)/assets
(10,860)
2,550
Net (liabilities)/assets
(10,860)
2,550
Called up share capital
2
2
Profit and loss account
(10,862)
2,548
Shareholders' funds
(10,860)
2,550
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 March 2025 and were signed on its behalf by
K S Ellis
Director
Company Registration No. 06755125
Cinemanx Music Limited
Notes to the Accounts
for the period from 1 July 2023 to 31 March 2024
Cinemanx Music Limited is a private company, limited by shares, registered in England and Wales, registration number 06755125. The registered office is CANNON PLACE, 78 CANNON STREET, LONDON, EC4N 6AF, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Repayments of the amounts due from Cinemanx Limited and its subsidiary entities (the "Cinemanx Group") to the Isle of Man Treasury (see note 8) will not be called for repayment until a full review of the financial position of the Cinemanx Group has been completed and the Isle of Man Treasury has confirmed that they will not enforce repayment where the company has insufficient liquid assets to satisfy any demand for repayment, thus allowing the company to continue as a going concern.
Turnover represents the amounts derived from royalties received, stated net of value added tax.
Income and expenditure is recognised on an accruals basis.
Cash and cash equivalents
Cash and cash equivalents in the statement of financial position comprise cash at bank and in hand.
Short-term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit or loss in other operating expenses.
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Under FRS102, the company is exempt from the requirement to prepare a statement of cash flows on the grounds that it qualifies as a small entity.
The company owns and controls the entire copyright and all other rights in and to the Cinemanx Group theatrical feature films music and the master copies.
Amounts falling due within one year
Amounts due from group undertakings etc.
12,392
10,654
Cinemanx Music Limited
Notes to the Accounts
for the period from 1 July 2023 to 31 March 2024
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
1,577
6,063
Amounts owed to group undertakings and other participating interests
18,547
-
7
Transactions with related parties
As at the reporting date, two of the directors of the company were also directors of Boston Limited (“Boston”). During the period, an amount of GBP23,426 (2023: GBP12,590) was paid to Boston in their capacity as administrators of the company, an amount of GBP10,521 (2023: GBP8,770) was accrued, an amount of GBP2,100 (2023: GBP1,258) was prepaid and an amount of GBP1,577 (2023: GBP6,064) was owed as at the reporting date. All services have been provided on an arm’s length basis at the standard commercial terms of Boston.
As at the reporting date, the entire issued share capital of the company was held by Cinemanx Limited and is considered part of the Cinemanx Group. The ultimate beneficial owner is the Isle of Man Treasury, a department of the Isle of Man Government.
9
Average number of employees
During the period the average number of employees was 0 (2023: 0).