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Company No: 00904577 (England and Wales)

BONNEY MUSIC LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

BONNEY MUSIC LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

BONNEY MUSIC LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2024
BONNEY MUSIC LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024
DIRECTORS Ms A R Bradly
Ms V S Haslam
Mr A L Kassner
Mr D Kassner
Ms N O Kassner
SECRETARY Ms N O Kassner
REGISTERED OFFICE Units 6 & 7
11 Wyfold Road
Fulham
London
SW6 6SE
United Kingdom
COMPANY NUMBER 00904577 (England and Wales)
ACCOUNTANT GRAVITA III LLP
Aldgate Tower
2 Leman Street
London
E1 8FA
United Kingdom
BONNEY MUSIC LIMITED

BALANCE SHEET

As at 31 December 2024
BONNEY MUSIC LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Current assets
Debtors 3 29,654 28,884
29,654 28,884
Creditors: amounts falling due within one year 4 ( 565) ( 525)
Net current assets 29,089 28,359
Total assets less current liabilities 29,089 28,359
Net assets 29,089 28,359
Capital and reserves
Called-up share capital 100 100
Profit and loss account 28,989 28,259
Total shareholder's funds 29,089 28,359

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Bonney Music Limited (registered number: 00904577) were approved and authorised for issue by the Board of Directors on 10 July 2025. They were signed on its behalf by:

Mr D Kassner
Director
BONNEY MUSIC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
BONNEY MUSIC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 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

Bonney Music 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 Units 6 & 7, 11 Wyfold Road, Fulham, London, SW6 6SE, 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 £.

Turnover

Turnover represents royalties received during the financial year, net of turnover taxes. Advances in respect of future revenue are treated as deferred revenue and recognised as revenue when earned. Cost of sales consists of the share of royalties due to the original rights holder of the copyrights administered by the company in respect of the royalties earned in the year.

Taxation

Current tax
Current taxation is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

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, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

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

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year 0 0

3. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 29,654 28,884

4. Creditors: amounts falling due within one year

2024 2023
£ £
Other taxation and social security 170 195
Other creditors 395 330
565 525

5. Related party transactions

Other related party transactions

2024 2023
£ £
Entities with control, joint control or significant influence over the company 29,654 28,884