Cromwell Music Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 00568907

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Investments	4		18,408		18,408

			18,408		18,408
CURRENT ASSETS
Debtors	5	3,102		1,032
Cash at bank and in hand		117,316		163,221

		120,418		164,253
Creditors: Amounts Falling Due Within One Year	6	(65,854 )		(106,403 )

NET CURRENT ASSETS (LIABILITIES)			54,564		57,850

TOTAL ASSETS LESS CURRENT LIABILITIES			72,972		76,258

NET ASSETS			72,972		76,258

CAPITAL AND RESERVES
Called up share capital	7		10,000		10,000
Profit and Loss Account			62,972		66,258

SHAREHOLDERS' FUNDS			72,972		76,258

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Cromwell Music Limited

Balance Sheet (continued)

As At 31 December 2024

For the year ending 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 in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

The financial statements were approved by the board of directors on 4 September 2025 and were signed on its behalf by:

L S Richmond

Director

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Cromwell Music Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00568907 . The registered office is Suite 2.07, Plaza 535, Kings Road, London, SW10 0SZ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from the standard

2.2. Turnover

Turnover and other revenue is recognised at fair value of the consideration received or receivable. Furthermore, revenue is recognised when it is probable that economic benefits will flow to the company and the amount of the revenue can be reliably measured.

Turnover comproses royalty income which is recognised on a notified earnings basis.

Other than where amounts are collected by the company’s overseas sub-publishers, royalties derived from the inclusion of the company’s copyrights on recorded music products or from performance are recognised when they are earned by the company from the relevant collection society or record company. Similarly, except for overseas collected amounts, royalties derived from the synchronisation of the company’s copyrights are recognised as earned. Royalty amounts collected overseas are recognised in the period the amounts are reportable to the company by the sub-publisher.

2.3. Financial Instruments

Basic financial instruments, whether financial assets or financial liabilities, are recognised at amortised cost using the effective interest method.

Debtors and creditors falling due within one year are recognised at undiscounted transaction price. Debtors are reviewed for impairment at the end of the financial year and any impairments are recognised in the profit and loss account.

2.4. Foreign Currencies

The financial statements are presented in sterling and this is also the functional currency of the company.

Transactions in currencies (other than the functional currency) are recorded at the rate of exchange ruling at the date of the transaction. Monetary items denominated in other currencies are translated into sterling at the rates of exchange prevailing at the balance sheet date. All exchange differences arising are dealt with in the profit and loss account.

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Cromwell Music Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.5. Taxation

Taxation comprises current taxation and deferred tax.

Current tax represents the amount of tax payable in respect of taxable profit for the current or past financial years. The company’s liability to current tax is measured using tax rates that have been enacted by the balance sheet date.

Deferred tax represents future tax consequences of transactions recognised in the current or past financial years. Deferred tax is recognised in respect of all timing differences except that deferred tax assets are only recognised to the extent that it is probable that they will be recoverable against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

2.6. Investments – shares in group undertakings and participating interests

The company’s investments are carried at cost, adjusted for impairment.

At the end of each financial year, the investments are reviewed for any indication of impairment loss. If there is any loss then the carrying amount of the investments is reduced to estimated recoverable amount and the impairment loss is recognised in the profit and loss account. If the impairment losses reverse, the carrying amount is increased and the reversal is recognised in the profit and loss account.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 4 (2023: 4)

4. Investments

	Associates
	£
Cost
As at 1 January 2024	18,408

As at 31 December 2024	18,408

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	18,408

As at 1 January 2024	18,408

The investmemnt in associates comprises a 25% unquoted equity holdings in Lakeview Music Publishing Company Limited, a fellow subsidiary undertaking registered in England and Wales.

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Cromwell Music Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	2,553	887
Amounts owed by group undertakings	549	145

	3,102	1,032

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	43,600	50,811
Other creditors	19,561	51,913
Taxation and social security	2,693	3,679

	65,854	106,403

7. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	10,000	10,000

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