ACCOUNTS - Final Accounts preparation

Registered number: 02388043

MACLEN JOINT LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024


MACLEN JOINT LIMITED REGISTERED NUMBER:02388043

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

	2024	2023
Note	£	£


Current assets
Debtors: amounts falling due within one year	4	2,487,212	2,927,368
Cash at bank and in hand		4,207,355	4,452,850
		6,694,567	7,380,218
Current liabilities
Creditors: amounts falling due within one year	5	(2,981,969)	(3,786,351)

Net assets		3,712,598	3,593,867

Capital and reserves
Called up share capital	6	100	100
Profit and loss account		3,712,498	3,593,767
		3,712,598	3,593,867

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with 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 by:

L V Eastman

Director

Date: 10 September 2025

The notes on pages 2 to 4 form part of these financial statements.

Page 1


MACLEN JOINT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Maclen Joint Limited is a private limited liability company incorporated in England and Wales, with its registered office address at 27 Ovington Square, London, SW3 1LJ.
The principal activity of the Company is the exploitation of music rights.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Turnover

Turnover comprises royalty income, exclusive of VAT, which is accounted for on an accruals basis. Royalty audit claims are not booked as income until amounts arising from such claims are received by the company.

2.3

Debtors

Short term debtors are measured at the transaction price, less any impairment.

2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on sufficient notice agreed in advance.

2.5

Creditors

Short term creditors are measured at the transaction price.

2.6

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is £ Sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 2


MACLEN JOINT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.7

Dividends

Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2.8

Taxation

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

3.	Employees
	The Company had no employees during the current and preceding year.

Debtors

					2024	2023
					£	£


Other debtors	310,123	188,970
Prepayments and accrued income	2,177,089	2,738,398
	2,487,212	2,927,368

5.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Amounts owed to group undertakings	53,025	53,025
Corporation tax	310,359	361,419
Accruals and deferred income	2,618,585	3,371,907
	2,981,969	3,786,351

6.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

100 Ordinary shares of £1 each	100	100

Page 3


MACLEN JOINT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

7.	Controlling party

The parent undertaking and controlling party is Maclen (Music) Limited, a company registered in England and Wales.

8.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 10 September 2025 by Stephen Iseman FCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.

Page 4