REGISTERED NUMBER: 09813478 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Lime Blue Music Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

W T R Holland

M Abbott

S M J Squires

C P Chambers

REGISTERED OFFICE:

Ground Floor

161 Roseberry Avenue

London

EC1R 4QX

REGISTERED NUMBER:

09813478 (England and Wales)

ACCOUNTANTS:

Richard Smedley Limited

Chartered Accountants & Registered Auditors

Richmond House

Lawnswood Business Park

Redvers Close

Leeds

West Yorkshire

LS16 6QY

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

7,359

6,496

7,359

6,496

CURRENT ASSETS

Debtors

6

750,196

898,398

Cash at bank

2,405,353

1,268,035

3,155,549

2,166,433

CREDITORS

Amounts falling due within one year

7

3,439,947

2,517,480

NET CURRENT LIABILITIES

(284,398

)

(351,047

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(277,039

)

(344,551

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(277,139

)

(344,651

)

SHAREHOLDERS' FUNDS

(277,039

)

(344,551

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 September 2025 and were signed on its behalf by:

S M J Squires - Director

1.	STATUTORY INFORMATION

Lime Blue Music Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company is considered a going concern due to the ongoing support of the directors and shareholders.

Turnover

Turnover represents the net sales of commissions due to the artists, excluding value added tax. The right to the consideration becomes due once the artists song has been played on mainstream media.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Financial instruments

Basic financial instruments are recognised at amortised costs. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 18 ) .

4.	INTANGIBLE FIXED ASSETS

Website

£

COST

At 1 January 2024

and 31 December 2024

33,578

AMORTISATION

At 1 January 2024

and 31 December 2024

33,578

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

5,633

22,398

28,031

Additions

-

4,658

4,658

At 31 December 2024

5,633

27,056

32,689

DEPRECIATION

At 1 January 2024

2,200

19,335

21,535

Charge for year

515

3,280

3,795

At 31 December 2024

2,715

22,615

25,330

NET BOOK VALUE

At 31 December 2024

2,918

4,441

7,359

At 31 December 2023

3,433

3,063

6,496

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

186,630

124,071

Other debtors

563,566

774,327

750,196

898,398

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

31,326

63,075

Taxation and social security

(7,481

)

-

Other creditors

3,416,102

2,454,405

3,439,947

2,517,480

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

55,650

55,650

Between one and five years

37,100

92,750

92,750

148,400