Company registration number 11136875 (England and Wales)
ARMADA MUSIC UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
ARMADA MUSIC UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
ARMADA MUSIC UK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
59,735
70,065
Current assets
Debtors
4
76,508
65,046
Cash at bank and in hand
133,722
167,366
210,230
232,412
Creditors: amounts falling due within one year
5
(64,281)
(91,616)
Net current assets
145,949
140,796
Total assets less current liabilities
205,684
210,861
Provisions for liabilities
6
(14,934)
(11,389)
Net assets
190,750
199,472
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
190,749
199,471
Total equity
190,750
199,472

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 4 August 2025
Mr Maykel Piron
Director
Company registration number 11136875 (England and Wales)
ARMADA MUSIC UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Armada Music UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 Bath Place, Ground Floor, Shoreditch, London, EC2A 3DR.

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.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Armada Holding B.V. These consolidated financial statements are available from its registered office, Unit K, 6 Pilotenstraat, Amsterdam, Netherlands, 1059 CJ.

1.2
Turnover

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

Royalty income is accounted for on a receivable basis to the extent that it can be quantified from amounts paid or declared by licensees and other parties.

Revenue from contracts for consultancy fee recharges recognised by reference to expenses incurred and only to the extent of the expenses recognised that are recoverable.

1.3
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.

ARMADA MUSIC UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -

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
IT Equipment
20% Straight Line
Artwork
No Depreciation

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

An impairment loss is recognised immediately in profit or loss.

1.5
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.

1.6
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.

1.7
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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

ARMADA MUSIC UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.8
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.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.11
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
Employees

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

2024
2023
Number
Number
Total
15
12
ARMADA MUSIC UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
3
Tangible fixed assets
Fixtures and fittings
Artwork
Total
£
£
£
Cost
At 1 January 2024
79,135
24,509
103,644
Additions
26,114
-
0
26,114
Disposals
(33,299)
-
0
(33,299)
At 31 December 2024
71,950
24,509
96,459
Depreciation and impairment
At 1 January 2024
33,579
-
0
33,579
Depreciation charged in the year
15,368
-
0
15,368
Eliminated in respect of disposals
(12,223)
-
0
(12,223)
At 31 December 2024
36,724
-
0
36,724
Carrying amount
At 31 December 2024
35,226
24,509
59,735
At 31 December 2023
45,556
24,509
70,065
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3,111
-
0
Corporation tax recoverable
11,016
-
0
Amounts owed by group undertakings
7,955
12,074
VAT recoverable
20,295
11,578
Other debtors
34,131
41,394
76,508
65,046
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
0
21,235
Amounts owed to group undertakings and undertakings in which the company has a participating interest
28,300
195
Corporation tax
-
0
27,129
Other taxation and social security
3,747
3,562
Other creditors
32,234
39,495
64,281
91,616
ARMADA MUSIC UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
6
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
14,934
11,389
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

Senior Statutory Auditor:
Colin Young
Statutory Auditor:
CC Young & Co Limited
Date of audit report:
4 August 2025
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
18,957
42,338
9
Parent company

Armada Music UK Limited is a wholly owned subsidiary of Armada Holding B.V. (Registered Office - Unit K, 6 Pilotenstraat, Amsterdam, Netherlands, 1059 CJ) and the results of the company are included in the consolidated financial statements of Armada Holding B.V.

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