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Registered number: 01180969









AIR RECORDS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
AIR RECORDS LIMITED
 
 
COMPANY INFORMATION


Directors
Thomas Coesfeld (resigned 8 July 2024)
David D'Urbano 
Alistair Norbury 




Registered number
01180969



Registered office
Floors 1-3
20 Vauxhall Bridge Road

London

SW1V 2SA





 
AIR RECORDS LIMITED
REGISTERED NUMBER: 01180969

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

  

  

Total assets less current liabilities
  
 
-
 
-

Creditors: amounts falling due after more than one year
 4 
(1)
(1)

  

Net liabilities
  
(1)
(1)


Capital and reserves
  

Share capital
 5 
201
201

Share premium account
  
489,086
489,086

Revaluation deficit
  
(489,288)
(489,288)

  
(1)
(1)


The accompanying notes are an integral part of the Balance sheet.
The Company did not trade during the current year and has made neither profit nor loss, nor any other recognised gain or loss.
Audit exemption statement
For the year ended 31 December 2024 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

Directors' responsibilities statement
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.

The Company's financial statements have been prepared in accordance with the 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 30 July 2025.


 




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AIR RECORDS LIMITED
REGISTERED NUMBER: 01180969
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

David D'Urbano
Director

The notes on pages 3 to 4 form part of these financial statements.

Floors 1-3
20 Vauxhall Bridge Road
London
United Kingdom
SW1V 2SA

Page 2

 
AIR RECORDS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

The Company is a private Company limited by shares and is incorporated in the United Kingdom. The address of its registered office is Floors 1-3, 20 Vauxhall Bridge Road, London, SW1V 2SA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The Company’s financial statements have been prepared and approved by the directors in accordance with International Financial Reporting Standards as adopted by the United Kingdom (“UK”).
The financial statements are presented in pounds sterling. They are prepared on the historical cost basis.

The Company has taken exemption from preparing consolidated financial statements afforded by section 400 of the Companies Act 2006, because it is a wholly owned subsidiary of Bertelsmann SE & Co. KGaA which prepares consolidated financial statements that are publicly available (refer to note 8).


3.


Employee costs and directors' emoluments

The number of staff employed by the Company is nil (2023: nil), therefore no costs were incurred in either year. The directors did not receive emoluments in respect of their services to the Company (2023: £nil). Their emoluments were borne by affiliate company BMG Rights Management Services (UK) Limited. 


4.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Loans from Group companies
1
1

1
1


There was no interest due on loans from Group companies during the year.


5.


Share capital

2024
2023
£
£
Authorised, allotted, called up and fully paid



101 (2023 - 101) Ordinary shares of £1.00 each
101
101
100 (2023 - 100) deferred shares of £1.00 each
100
100

201

201

Page 3

 
AIR RECORDS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.Share capital (continued)

Share premium of £489,086 (2023: £489,086) has been recognised.
The authorised share capital of the Company is divided into 101 Ordinary £1 shares and 100 Deferred £1 shares.
The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at meetings of the Company. 
The Deferred shares entitle the holders to a fixed non-cumulative dividend of 5% per annum where the net profits of the Company available for dividend exceed £10,000,000. Upon winding up the holders are entitled to a return on capital out of the surplus profits after a total sum of £1,000,000 has been distributed in such winding up to each of the Ordinary shareholders. Holders are not entitled to any further participation in the profits or assets of the Company and are not entitled to attend or vote at any General Meeting of the Company.



6.


Related party transactions

The Company's ultimate parent company and group is the international media company Bertelsmann SE & Co. KGaA.
The Company had a related party relationship in the year with subsidiaries of Bertelsmann SE & Co. KGaA, and with its directors and executive officers.
During the year the Company entered into £nil transactions with related parties (2023: £nil).


7.


Dividends paid

The directors did not recommend a dividend in 2024 (2023: nil).


8.


Controlling party

The Company is a wholly owned subsidiary of Chrysalis Holdings Limited.
The immediate parent company is Chrysalis Holdings Limited, a company incorporated in the United Kingdom. The ultimate parent company is Bertelsmann SE & Co. KGaA.  
The results of the Company are included in the consolidated financial statements of Bertelsmann SE & Co. KGaA which is registered at Carl-Bertelsmann-Strasse 270, 33311 Gütersloh, Germany. These consolidated accounts are publicly available.
No other Group financial statements include the results of the Company. 

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