Company registration number 15271301 (England and Wales)
ARTIST THEORY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
ARTIST THEORY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ARTIST THEORY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
Notes
£
£
Current assets
Debtors
3
33
Cash at bank and in hand
146,971
147,004
Creditors: amounts falling due within one year
4
(231,854)
Net current liabilities
(84,850)
Capital and reserves
Called up share capital
100
Profit and loss reserves
(84,950)
Total equity
(84,850)
For the financial period 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 period in question in accordance with section 476.
The directors acknowledge their 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 directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 7 August 2025 and are signed on its behalf by:
M Lewis
M Toher
Director
Director
Mr J Melhuish
Mr N Burgess
Director
Director
Company registration number 15271301 (England and Wales)
ARTIST THEORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
Artist Theory Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, The Bloomsbury Building, 10 Bloomsbury Way, Holborn, WC1A 2SL.
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 goods and services
provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair
value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover represents amounts receivable for services net of VAT.
Credit is taken for royalty income that has been received from or declared by licensees and other parties.
United Kingdom royalty income is credited to the profit and loss account in the period to which it relates, or if it
cannot be reliably estimated, on a receipt basis. Overseas royalty income, which is all collected on behalf of
the company by other undertakings, is credited to the profit and loss account in the period overseas sales are
reported to the company. Royalties payable are charged against the relevant income of the same period.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company only has financial instruments which are classified as basic financial instruments.
Short-term debtors and creditors are measured at the settlement value. Any losses from impairment are recognised in profit and loss.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
ARTIST THEORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
Number
Total
4
3
Debtors
2024
Amounts falling due within one year:
£
Other debtors
33
4
Creditors: amounts falling due within one year
2024
£
Trade creditors
7,949
Taxation and social security
14,254
Other creditors
209,651
231,854
ARTIST THEORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 4 -
5
Related Party Transactions
During the period, B Unique Music Limited, a connected company, incurred expenses on behalf of Artist Theory Ltd, totalling £204,665 and received funds on behalf of Artist Theory Ltd totalling £48,000. At the Balance Sheet date, Artist Theory Ltd owed £156,665 to B Unique Music Ltd.
During the period, B-Unique Recordings Limited, a connected company, incurred expenses on behalf of Artist Theory Ltd, totalling £8,591. B-Unique Recordings was issued 3,334 shares for £33. At the Balance Sheet date, Artist Theory Ltd owed £8,558 to B-Unique Recordings Ltd.
During the period, Nick Burgess, a director incurred expenses on behalf of Artist Theory Ltd totalling £718. Nick Burgess was issued 3,333 shares for £33. At the Balance Sheet date the company owed the director £685.
During the period, Jack Melhuish, a director was issued 3,333 shares for £33. At the Balance Sheet date the director owed the company £33.
All loans are interest free and repayable on demand.