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Registered number: 03421654














SUCCUBUS MUSIC LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
SUCCUBUS MUSIC LIMITED
REGISTERED NUMBER:03421654

BALANCE SHEET
AS AT 31 MARCH 2024

2024
As restated
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
5
5

  
5
5

Current assets
  

Debtors: amounts falling due within one year
 5 
737,728
468,959

Cash at bank
 6 
14,558,827
13,790,920

  
15,296,555
14,259,879

Creditors: amounts falling due within one year
 7 
(92,576)
(523,468)

Net current assets
  
 
 
15,203,979
 
 
13,736,411

Total assets less current liabilities
  
15,203,984
13,736,416

  

Net assets
  
15,203,984
13,736,416


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
15,203,884
13,736,316

  
15,203,984
13,736,416


Page 1

 
SUCCUBUS MUSIC LIMITED
REGISTERED NUMBER:03421654
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J P Page
Director

Date: 20 March 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
SUCCUBUS MUSIC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Succubus Music Limited is a private company, limited by shares, registered in England and Wales, registration number 03421654. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.

The principal activity of the company continued to be that of sound recording and music publishing activities.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of  the Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each year end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash are presented in the profit and loss account within 'administrative expenses'. All other foreign exchange gains and losses are presented in profit or loss.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from sound recording and music publishing activities is recognised when it is probable the company will receive the rights to the consideration due under the contract.
Royalties receivable are recognised at the year end date by the company.
Royalties payable are calculated by reference to statements of accounts used for determining royalties receivable.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
SUCCUBUS MUSIC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

 Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors, trade and other creditors, and loans with related parties.


3.


Employees

The average monthly number of employees, including the director, during the year was 2 (2023 - 2).

Page 4

 
SUCCUBUS MUSIC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets




As restated
Copyrights

£



Cost


At 1 April 2023
5



At 31 March 2024

5






Net book value



At 31 March 2024
5



At 31 March 2023
5
In the prior year, an amount of £5 was classified as unlisted investments, this has been re-classified as intangible assets. This is now shown as a prior year adjustment. As a result, unlisted investments have reduced by £5 and intangible assets have increased by £5. These adjustments have no impact on retained earnings.



5.


Debtors

2024
As restated
2023
£
£


Trade debtors
669,091
456,609

Other debtors
68,637
12,350

737,728
468,959

In the prior year, an amount of £456,609 was classified as other debtors, this has been re-classified as trade debtors. This is now shown as a prior year adjustment. As a result, trade debtors have increased by £456,609 and other debtors have reduced by £456,609.
Further, an amount of £11,450 was classified as tax payable, this has been re-classified as other debtors. This is now shown as a prior year adjustment. As a result, other debtors have increased by £11,450. These adjustments have no impact on retained earnings.


6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank
14,558,827
13,790,920


Page 5

 
SUCCUBUS MUSIC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: amounts falling due within one year

2024
As restated
2023
£
£

Trade creditors
39,253
12,482

Tax payable
-
465,629

Other creditors
53,323
45,357

92,576
523,468

In the prior year, an amount of £11,450 was classified as tax payable, this has been re-classified as other debtors. This is now shown as a prior year adjustment. As a result, tax payable have increased by £11,450. These adjustments have no impact on retained earnings.


8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



9 (2023 - 9) Preference A shares of £1.00 each
9
9
9 (2023 - 9) Preference B shares of £1.00 each
9
9
9 (2023 - 9) Preference C shares of £1.00 each
9
9
9 (2023 - 9) Preference D shares of £1.00 each
9
9
9 (2023 - 9) Preference E shares of £1.00 each
9
9
55 (2023 - 55) Special shares of £1.00 each
55
55

100

100

 
Page 6