ACCOUNTS - Final Accounts preparation

Registered number: 09828085

TMCF MUSIC LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024


TMCF MUSIC LIMITED

COMPANY INFORMATION

Director	Thomas McFarland (appointed 16 October 2015)


Registered number	09828085


Registered office	2nd Floor
	Connaught House
	1-3 Mount Street (Entrance Via Davies Street)
	London
	United Kingdom
	W1K 3NB


Accountants	Sopher + Co LLP
	Chartered Accountants
	5 Elstree Gate
	Elstree Way
	Borehamwood
	Hertfordshire
	WD6 1JD


TMCF MUSIC LIMITED REGISTERED NUMBER:09828085

STATEMENT OF FINANCIAL POSITION

AS AT 31 OCTOBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	4		605		910
Investments			212,962		196,728
			213,567		197,638
Current assets
Debtors: amounts falling due within one year	6	68,220		46,500
Bank and cash balances		909,883		189,857
		978,103		236,357
Current liabilities
Creditors: amounts falling due within one year	7	(267,187)		(69,208)
Net current assets			710,916		167,149
Total assets less current liabilities			924,483		364,787

Net assets			924,483		364,787

Capital and reserves
Called up share capital	1	1
Profit and loss account	924,482	364,786
	924,483	364,787

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TMCF MUSIC LIMITED REGISTERED NUMBER:09828085

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 OCTOBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 profit and loss account 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 on 18 September 2025.

Thomas McFarland

Director

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TMCF MUSIC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

1.	General information

TMCF MUSIC LIMITED is a private company limited by shares, incorporated in England and Wales. The registered office is 2nd Floor, Connaught House, 1-3 Mount Street (Entrance via Davies Street), London, United Kingdom, W1K 3NB.
The principal activity of the company during the period was performing arts.
The company's functional and presentational currency is Pound Sterling (£).

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

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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TMCF MUSIC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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.

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment

25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.6

Fixed assets investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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TMCF MUSIC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 1).

4.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	At 1 November 2023	1,213
	At 31 October 2024	1,213
	Depreciation
	At 1 November 2023	304
	Charge for the year on owned assets	304
	At 31 October 2024	608
	Net book value
	At 31 October 2024	605
	At 31 October 2023	910

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TMCF MUSIC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

5.	Fixed asset investments

		Listed investments
		£
	Cost or valuation
	At 1 November 2023	196,728
	Additions	16,234
	At 31 October 2024	212,962

Debtors

					2024	2023
					£	£


Trade debtors	67,741	46,500
Other debtors	479	-
	68,220	46,500

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

Corporation tax	183,512	46,223
Other taxation and social security	75,654	22,514
Other creditors	2,825	471
Accruals and deferred income	5,196	-
	267,187	69,208

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