Company No: 01218391 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	G Wayne
	J Wayne

SECRETARY

G Wayne

REGISTERED OFFICE	Lyndhurst
	Green Street
	Shenley
	WD7 9BD
	United Kingdom

COMPANY NUMBER

01218391 (England and Wales)

ACCOUNTANT	Gravita Business Services II Limited
	Aldgate Tower
	2 Leman Street
	London
	E1 8FA
	United Kingdom

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	6,275		4,520
Investment property	4	0		2,425,000
Investments	5	201		201
		6,476		2,429,721
Current assets
Stocks		5,025		5,446
Debtors	6	1,020,338		904,383
Cash at bank and in hand		151,615		416,702
		1,176,978		1,326,531
Creditors: amounts falling due within one year	7	( 633,500)		( 532,546)
Net current assets		543,478		793,985
Total assets less current liabilities		549,954		3,223,706
Provision for liabilities	10	0		( 354,782)
Net assets		549,954		2,868,924
Capital and reserves
Called-up share capital		30,975		30,975
Revaluation reserve	9	0		1,827,092
Profit and loss account		518,979		1,010,857
Total shareholders' funds		549,954		2,868,924

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Jeff Wayne Music Group Limited (registered number: 01218391) were approved and authorised for issue by the Board of Directors on 26 September 2025. They were signed on its behalf by:

J Wayne Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Jeff Wayne Music Group Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lyndhurst, Green Street, Shenley, WD7 9BD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes where applicable.

Revenue from contracts for the provision of professional services is recognised by reference to the date of completion of the services and the costs incurred in advance of the completion of the services.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings

5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

3. Tangible assets

	Fixtures and fittings		Total
	£		£
Cost
At 01 October 2023	430,762		430,762
Additions	4,581		4,581
At 30 September 2024	435,343		435,343
Accumulated depreciation
At 01 October 2023	426,242		426,242
Charge for the financial year	2,826		2,826
At 30 September 2024	429,068		429,068
Net book value
At 30 September 2024	6,275		6,275
At 30 September 2023	4,520		4,520

4. Investment property

	Investment property
	£
Valuation
As at 01 October 2023	2,425,000
Transfers to and from property, plant and equipment	(2,425,000)
As at 30 September 2024	0

During the year, the property was transferred to JWMG Property Limited, a fellow subsidiary of the new parent company, Jeff Wayne Music Group Holdings Limited.

5. Fixed asset investments

Investments in subsidiaries

	2024
	£
Cost
At 01 October 2023	201
At 30 September 2024	201
Carrying value at 30 September 2024	201
Carrying value at 30 September 2023	201

Investments in subsidiaries are stated at cost.

Investments in shares

Details of the company's subsidiaries at 30 September 2024 are as follows:

Name of entity	Registered office	Class of shares	Ownership 30.09.2024	Ownership 30.09.2023	Held
Jeff Wayne Music Publishing Limited	England and Wales	Ordinary	100.00%	100.00%	Direct
Olliewood Recording Studios Limited	England and Wales	Ordinary	100.00%	100.00%	Direct
The WOW Recording Studios Limited	England and Wales	Ordinary	100.00%	100.00%	Indirect
Top Drawer Tours Limited	England and Wales	Ordinary	100.00%	100.00%	Direct

6. Debtors

	2024		2023
	£		£
Trade debtors	14,264		2,264
Corporation tax	235,385		235,385
Other debtors	770,689		666,734
	1,020,338		904,383

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	48,935		39,286
Amounts owed to Group undertakings	242,089		43,095
Taxation and social security	642		350,855
Other creditors	341,834		99,310
	633,500		532,546

8. Related party transactions

At the year end, the company owed £242,089 (2023- £43,095) to Top Drawer Tours Limited, a 100% subsidiary company, in respect of an interest free loan repayable on demand.

At the year end, the company was owed £592,382 (2023 - £636,004) by the directors. Balances owed to the company by the directors had an interest rate of 2.25% applied.

9. Revaluation reserve

	2024		2023
	£		£
At beginning of year	1,827,092		1,827,092
Other movements	(1,827,092)		0
	0		1,827,092

10. Financial commitments, guarantees and contingent liabilities

The company has given unlimited guarantees and a debenture to Natwest Bank Plc in respect of borrowings of certain subsidiaries. At 30 September 2024 there were no overdrawn balances.

The Royal Bank of Scotland Commercial Services Limited also hold a fixed and floating charge over all the assets of the company.