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Company No: 12302569 (England and Wales)

THE STARWOOD MUSIC GROUP LTD

Unaudited Financial Statements
For the financial year ended 30 August 2024
Pages for filing with the registrar

THE STARWOOD MUSIC GROUP LTD

Unaudited Financial Statements

For the financial year ended 30 August 2024

Contents

THE STARWOOD MUSIC GROUP LTD

STATEMENT OF FINANCIAL POSITION

As at 30 August 2024
THE STARWOOD MUSIC GROUP LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 August 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 437,040 509,880
Tangible assets 4 3,635 2,180
440,675 512,060
Current assets
Debtors 5 309,074 281,407
Cash at bank and in hand 6 54,753 113,764
363,827 395,171
Creditors: amounts falling due within one year 7 ( 294,518) ( 163,768)
Net current assets 69,309 231,403
Total assets less current liabilities 509,984 743,463
Provision for liabilities 8 ( 901) ( 469)
Net assets 509,083 742,994
Capital and reserves
Called-up share capital 9 180 180
Share premium account 469,269 742,419
Profit and loss account 39,634 395
Total shareholders' funds 509,083 742,994

For the financial year ending 30 August 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 The Starwood Music Group Ltd (registered number: 12302569) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Mark Nicholson
Director

28 August 2025

THE STARWOOD MUSIC GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 August 2024
THE STARWOOD MUSIC GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 August 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

The Starwood Music Group Ltd (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 35 Ballards Lane, London, N3 1XW, 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 £.

Going concern
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 is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 4 3

3. Intangible assets

Goodwill Total
£ £
Cost
At 31 August 2023 728,400 728,400
At 30 August 2024 728,400 728,400
Accumulated amortisation
At 31 August 2023 218,520 218,520
Charge for the financial year 72,840 72,840
At 30 August 2024 291,360 291,360
Net book value
At 30 August 2024 437,040 437,040
At 30 August 2023 509,880 509,880

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 31 August 2023 8,255 8,255
Additions 2,821 2,821
At 30 August 2024 11,076 11,076
Accumulated depreciation
At 31 August 2023 6,075 6,075
Charge for the financial year 1,366 1,366
At 30 August 2024 7,441 7,441
Net book value
At 30 August 2024 3,635 3,635
At 30 August 2023 2,180 2,180

5. Debtors

2024 2023
£ £
Trade debtors 70,010 2,190
Amounts owed by associates 0 135,328
Other debtors 239,064 143,889
309,074 281,407

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 54,753 113,764

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 900 0
Taxation and social security 104,094 163,768
Other creditors 189,524 0
294,518 163,768

8. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 469) 0
Charged to the Statement of Income and Retained Earnings ( 432) ( 469)
At the end of financial year ( 901) ( 469)

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
126 Ordinary shares of £ 1.00 each (2023: 180 shares of £ 1.00 each) 126 180
54 Ordinary B shares of £ 1.00 each (2023: nil shares) 54 0
180 180