Company registration number 07536715 (England and Wales)
SOHO PRODUCTION MUSIC LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SOHO PRODUCTION MUSIC LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SOHO PRODUCTION MUSIC LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
78,348
118,142
Tangible assets
5
707
453
79,055
118,595
Current assets
Debtors
6
290,834
16,166
Cash at bank and in hand
1,152,338
1,127,799
1,443,172
1,143,965
Creditors: amounts falling due within one year
7
(483,005)
(406,148)
Net current assets
960,167
737,817
Net assets
1,039,222
856,412
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
1,039,122
856,312
Total equity
1,039,222
856,412

For the financial year ended 31 December 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 of its financial statements for the year in question in accordance with section 476.

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

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 23 June 2025
Joanna Christine Farries
Director
Company registration number 07536715 (England and Wales)
SOHO PRODUCTION MUSIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Soho Production Music Limited is a private company limited by shares incorporated in England and Wales. The registered office is 151 Wardour Street, London, United Kingdom, W1F 8WE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for royalties received provided in the normal course of business, and is shown net of VAT.

1.3
Intangible fixed assets other than goodwill

Intangible assets are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Copyrights
25% straight line
Music library mastering
25% straight line
Music development
25% straight line
Studio hire
25% straight line
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% straight line
Computer equipment
33% straight line
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable 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.

SOHO PRODUCTION MUSIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
4
Intangible fixed assets
Copyrights
Music library mastering
Music development
Studio hire
Total
£
£
£
£
£
Cost
At 1 January 2024
167,606
45,447
53,333
3,293
269,679
Additions
-
0
12,716
12,486
2,800
28,002
At 31 December 2024
167,606
58,163
65,819
6,093
297,681
Amortisation and impairment
At 1 January 2024
108,850
23,294
18,886
507
151,537
Amortisation charged for the year
41,902
9,940
14,898
1,056
67,796
At 31 December 2024
150,752
33,234
33,784
1,563
219,333
Carrying amount
At 31 December 2024
16,854
24,929
32,035
4,530
78,348
At 31 December 2023
58,756
22,153
34,447
2,786
118,142
SOHO PRODUCTION MUSIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024
37,413
Additions
666
At 31 December 2024
38,079
Depreciation and impairment
At 1 January 2024
36,960
Depreciation charged in the year
412
At 31 December 2024
37,372
Carrying amount
At 31 December 2024
707
At 31 December 2023
453
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,201
150
Other debtors
289,633
16,016
290,834
16,166
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
264,451
329,675
Corporation tax
56,779
56,961
Other taxation and social security
13,003
16,762
Other creditors
148,772
2,750
483,005
406,148
SOHO PRODUCTION MUSIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Class A of £1 each
75
75
75
75
Ordinary Class B of £1 each
25
25
25
25
100
100
100
100
9
Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions between group companies where the subsidiary is wholly owned within the group.

10
Parent company

The parent company is Soho Sound House Ltd and its registered office is 151 Wardour Street, London, England, W1F 8WE.

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