Songways Service Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 00885677

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		19,029		21,407
Tangible Assets	5		3,684		3,673

			22,713		25,080
CURRENT ASSETS
Debtors	6	550,144		361,085
Cash at bank and in hand		145,893		84,452

		696,037		445,537
Creditors: Amounts Falling Due Within One Year	7	(608,254 )		(364,041 )

NET CURRENT ASSETS (LIABILITIES)			87,783		81,496

TOTAL ASSETS LESS CURRENT LIABILITIES			110,496		106,576

NET ASSETS			110,496		106,576

CAPITAL AND RESERVES
Called up share capital	8		100		100
Profit and Loss Account			110,396		106,476

SHAREHOLDERS' FUNDS			110,496		106,576

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Songways Service 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 9 September 2025 and were signed on its behalf by:

L S Richmond

Director

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

Songways Service Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00885677 . 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

FRS 102 is the Financial Reporting Standard applicable in the UK and Republic of Ireland. The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from the standard.

2.2. Turnover

Turnover 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.

Fees for provision of management services

Fees for the provision of management services are recognised on a straight-line basis over the period to which they accrue.

2.3. Intangible Fixed Assets and Amortisation - Intellectual Property

Intellectual property assets comprise software licence costs.

Software licence costs are recognised as intangible fixed assets and measured at cost less amortisation and impairment losses. The cost is amortised evenly over the useful economic life or, if shorter, the licence term. The economic life is considered to be 10 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25%
Fixtures & Fittings	15%
Computer Equipment	33.33%

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

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Songways Service Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.5. Leasing and Hire Purchase Contracts

Assets held under finance leases (being rental agreements under which the company has assumed substantially all the risks and rewards of ownership) are capitalised as tangible fixed assets. The corresponding lease obligations (net of the interest charge) are included as liabilities. The interest element of rental obligations is charged to the profit and loss account over the period of the relevant lease so as to produce a constant periodic rate of charge on the net obligations outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits of ownership remain with the lessor are charged to the profit and loss account on a straight-line basis over the lease term.

2.6. 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.

2.7. Taxation

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.

2.8. Pensions

The company operates a contributory defined contribution pension scheme for the benefit of its employees. The assets of the scheme are held separately from those of the company. Pension contributions are charged to the profit and loss account in the period in which they are incurred.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 9 (2023: 9)

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Songways Service Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Intangible Assets

	Software
	£
Cost
As at 1 January 2024	23,786

As at 31 December 2024	23,786

Amortisation
As at 1 January 2024	2,379
Provided during the period	2,378

As at 31 December 2024	4,757

Net Book Value
As at 31 December 2024	19,029

As at 1 January 2024	21,407

5. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2024	52,027	101,133	96,969	250,129
Additions	-	-	1,808	1,808

As at 31 December 2024	52,027	101,133	98,777	251,937

Depreciation
As at 1 January 2024	52,027	101,133	93,296	246,456
Provided during the period	-	-	1,797	1,797

As at 31 December 2024	52,027	101,133	95,093	248,253

Net Book Value
As at 31 December 2024	-	-	3,684	3,684

As at 1 January 2024	-	-	3,673	3,673

Fixtures and fittings comprises costs related to the group's long leasehold property.

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Songways Service Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	364,737	281,281
Amounts owed by group undertakings	115,277	38,000
Other debtors	70,130	41,804

	550,144	361,085

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	293,259	299,538
Amounts owed to group undertakings	256,389	500
Other creditors	37,645	43,505
Taxation and social security	20,961	20,498

	608,254	364,041

8. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

9. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2024	2023
	£	£
Not later than one year	4,088	4,088
Later than one year and not later than five years	1,022	5,110

	5,110	9,198

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