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Registered number: 03962615
Adelphoi Music Publishing Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03962615
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 122 163
Investments 6 111 111
233 274
CURRENT ASSETS
Debtors 7 583,310 545,723
Cash at bank and in hand 1,394 40,455
584,704 586,178
Creditors: Amounts Falling Due Within One Year 8 (38,038 ) (42,646 )
NET CURRENT ASSETS (LIABILITIES) 546,666 543,532
TOTAL ASSETS LESS CURRENT LIABILITIES 546,899 543,806
NET ASSETS 546,899 543,806
CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Share premium account 249,875 249,875
Profit and Loss Account 296,024 292,931
SHAREHOLDERS' FUNDS 546,899 543,806
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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.
On behalf of the board
K K Zavieh
Director
26/09/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Adelphoi Music Publishing Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 03962615 . The registered office is 26 Litchfield Street, London, WC2H 9TZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The company has taken advantage of the exemption under section 339 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent, qualifies as a small group.  The financial statements present information about the company as an individual entity and not about its group.
The company's functional and presentational currency is GBP.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured 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.  The fair value of the consideration takes into account trade discounts, settlement discounts and volume rebates.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets.  Intangible assets are initially recognised at cost.  After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life.  If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
2.5. 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% per annum on reducing balance
Fixtures & Fittings 25% per annum on reducing balance
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 the statement of income and retained earnings.
2.6. Financial Instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.  Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Equity Instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.  Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2.7. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.9. Pensions
Defined contribution pension plan
The company operates a defined contribution plan for its employees.  A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity.  Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due.  Amounts not paid are shown in other creditors as a liability in the balance sheet.  The assets of the plan are held separately from the company in independently administered funds.
2.10. Interest Income
Interest income is recognised in the profit or loss using the effective interest method.
Employee benefit
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. 
The costs of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Cash and cash equivalents
Cash is represented by cash in hand and deposits within 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.
2.11. 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.
2.12. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 6)
6 6
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4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2024 475,000
As at 31 December 2024 475,000
Amortisation
As at 1 January 2024 475,000
As at 31 December 2024 475,000
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 -
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2024 10,766 1,453 12,219
As at 31 December 2024 10,766 1,453 12,219
Depreciation
As at 1 January 2024 10,712 1,344 12,056
Provided during the period 14 27 41
As at 31 December 2024 10,726 1,371 12,097
Net Book Value
As at 31 December 2024 40 82 122
As at 1 January 2024 54 109 163
6. Investments
Subsidiaries
£
Cost or Valuation
As at 1 January 2024 111
As at 31 December 2024 111
Provision
As at 1 January 2024 -
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 111
As at 1 January 2024 111
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Subsidiary undertakings
The following were subsidiary undertakings of the company:
Airstate Ltd
  • Registered office - 26 Litchfield Street, London. WC2H 9TZ.
  • Class of shares - Ordinary
  • Holding - 100%
Valentine Music Ltd
  • Registered office - 26 Litchfield Street, London. WC2H 9TZ.
  • Class of shares - Ordinary
  • Holding - 100%
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 160 91
Prepayments and accrued income - 3,375
Amounts owed by group undertakings 583,150 542,257
583,310 545,723
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 98 98
Other taxes and social security 137 1,821
VAT 2,424 4,151
Other creditors 371 393
Accruals and deferred income 35,008 36,183
38,038 42,646
9. Share Capital
2024 2023
Allotted, called up but not fully paid £ £
1,000 Ordinary Shares of £ 1 each 1,000 1,000
10. Pension Commitments
The company operates a defined contribution pension scheme.  The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions totalling £371 (2023 - £393) were payable to the fund at the balance sheet date and are included in creditors.
11. Related Party Transactions
The company has taken advantage of the exemption available in Section 33.1A for FRS 102 whereby it has not disclosed transactions with any wholly owned undertakings of the group.
At the year end the company was owed £583,150 (2023 - £542,257) which is included in debtors due within one year.
12. Ultimate Controlling Party
The ultimate parent entity is Adelphoi Holdings Limited, a company registered in England and Wales.  The registered office of Adelphoi Holdings Limited is 26 Litchfield Street, London, WC2H 9TZ.  The immediate parent entity is Adelphoi Limited, a company registered in England and Wales.  The registered office of Adelphoi Limited is 26 Litchfield Street, London, WC2H 9TZ.
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