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Registered number: 09915929









LASSO RIGHTS LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
LASSO RIGHTS LIMITED
REGISTERED NUMBER: 09915929

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Intangible fixed assets
  
694,444
692,722

Tangible fixed assets
  
5,459
5,323

Investments
 6 
191
191

  
700,094
698,236

Current assets
  

Debtors: amounts falling due within one year
 7 
547,619
537,389

Cash at bank and in hand
 8 
701,460
492,963

  
1,249,079
1,030,352

Creditors: amounts falling due within one year
 9 
(1,719,517)
(1,188,252)

Net current liabilities
  
 
 
(470,438)
 
 
(157,900)

  

Net assets
  
229,656
540,336


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
229,655
540,335

  
229,656
540,336


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 statement of income and retained earnings 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 on 3 June 2025.




M Hoogenberk
S C Teves
Director
Director

The notes on pages 2 to 10 form part of these financial statements.

Page 1

 
LASSO RIGHTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Lasso Rights Limited is a private company limited by shares and incorporated in England and Wales. The address of its registered office is 124 Finchley Road, London, NW3 5JS, United Kingdom.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

The Company meets its day to day working capital requirements through its own funds, and loans from within the group.
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. If required, the Company has access to financial support within the group to provide any funding required to support its operations and the Company has received confirmation that amounts due to group undertakings will not be sought for repayment prior to the Company generating sufficient cash flows.
On this basis, the directors consider that the Company has adequate financial resources in place in order to meet its liabilities as they fall due and consider it appropriate to prepare the financial statements on a going concern basis.

Page 2

 
LASSO RIGHTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP, rounded to the nearest £1.

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 period 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.

 
2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Monetisation and protection of client content on social media
Revenue generated via third parties is recognised in line with the revenues reported as received by the external party. 
Revenue recognised on a fixed fee basis is recognised in line with the terms of the underlying agreement.

 
2.6

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.7

Interest income

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

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
LASSO RIGHTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.9

Taxation

Tax is recognised in profit or loss and the current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

 
2.10

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the statement of income and retained earnings over its useful economic life.

Other 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.

Trademarks, patents and licences
Separately acquired patents and trademarks are amortised in equal annual instalments over a period of eight years which is their estimated useful economic life. Provision is made for any impairment.
Computer software
Computer software costs are amortised in equal annual instalments over a period of ten years which is their estimated useful economic life. Provision is made for any impairment.
Goodwill
Goodwill is amortised in equal annual instalments over a period of ten years which is its estimated useful economic life. Provision is made for any impairment.

Page 4

 
LASSO RIGHTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Office equipment
-
over 3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.13

Debtors

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

 
2.14

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. 

 
2.15

Creditors

Short-term creditors are measured at the transaction price. 

Page 5

 
LASSO RIGHTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.16

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

 
LASSO RIGHTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 7).


4.


Intangible assets




Trademarks, patents and licenses
Computer software
Goodwill
Total

£
£
£
£



Cost


At 1 January 2024
419,510
155,854
199,289
774,653


Additions
7,147
91,678
-
98,825



At 31 December 2024

426,657
247,532
199,289
873,478



Amortisation


At 1 January 2024
49,134
12,868
19,929
81,931


Charge for the year on owned assets
57,529
19,645
19,929
97,103



At 31 December 2024

106,663
32,513
39,858
179,034



Net book value



At 31 December 2024
319,994
215,019
159,431
694,444



At 31 December 2023
370,376
142,986
179,360
692,722

 



Page 7

 
LASSO RIGHTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 January 2024
17,421


Additions
4,519



At 31 December 2024

21,940



Depreciation


At 1 January 2024
12,098


Charge for the year on owned assets
4,383



At 31 December 2024

16,481



Net book value



At 31 December 2024
5,459



At 31 December 2023
5,323


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2024
191



At 31 December 2024
191




Page 8

 
LASSO RIGHTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Debtors

2024
2023
£
£


Trade debtors
502,614
419,578

Amounts owed by group undertakings
149
-

Other debtors
19,385
88,325

Prepayments and accrued income
25,471
29,486

547,619
537,389



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
701,460
492,963

701,460
492,963



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
978,257
845,048

Amounts owed to group undertakings
575,654
204,423

Corporation tax
9,838
-

Other taxation and social security
-
30

Other creditors
20,659
883

Accruals and deferred income
135,109
137,868

1,719,517
1,188,252



10.


Pension commitments

At the reporting date, contributions totalling £0 (2023: £6) were payable to the fund by the company and are included in other creditors.
Contributions payable by the company during the year were £4,070 (2023: £2,571). 

Page 9

 
LASSO RIGHTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
16,405
15,767

Later than 1 year and not later than 5 years
13,670
30,075

30,075
45,842


12.


Related party transactions

The Company is a wholly owned subsidiary within a group and accordingly has taken advantage of the exemptions provided by "Financial Reporting Standard 102" not to disclose transactions with the other wholly owned entities within the group, such as  its immediate parent and fellow subsidiary undertakings.
The Company has not entered into any material transactions with group undertakings that have not been conducted under normal market conditions.
During the year, Maria Forte Music Services Limited, a company controlled by M Forte, provided consultancy services to the Company amounting to £10,200 (2023: £10,200). At the reporting date, the company owed £1,020 (2023: £1,020) to Maria Forte Music Services Limited.


13.


Controlling party

The immediate parent company is Rights Farm B.V. a company incorporated in the Netherlands. The address of its registered office is Zuid Hollandlaan 7, 2596 AL, The Hague, The Netherlands.
The ultimate parent company is Naardenhout Investments B.V., a company incorporated in the Netherlands, for which consolidated financial statements are drawn up, including the results of this Company. The address of its registered office is Zuid Hollandlaan 7, 2596 AL, The Hague, The Netherlands.
There is no overall controlling party.


14.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 10 June 2025 by Alexander Morris (senior statutory auditor) on behalf of Nyman Libson Paul LLP.

 
Page 10