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Registered number: 07100038
The Event Music Company Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Burrow & Crowe Accountants & Business Advisers Ltd
Pegholme, Bays 61-65
Wharfebank Mills, Ilkley Road
Otley
LS21 3JP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07100038
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 50,342 33,302
50,342 33,302
CURRENT ASSETS
Debtors 6 21,287 49,075
Cash at bank and in hand 24,247 26,472
45,534 75,547
Creditors: Amounts Falling Due Within One Year 7 (32,468 ) (58,822 )
NET CURRENT ASSETS (LIABILITIES) 13,066 16,725
TOTAL ASSETS LESS CURRENT LIABILITIES 63,408 50,027
Creditors: Amounts Falling Due After More Than One Year 8 (4,541 ) (11,987 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (11,818 ) (7,379 )
NET ASSETS 47,049 30,661
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 46,949 30,561
SHAREHOLDERS' FUNDS 47,049 30,661
Page 1
Page 2
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
Mr Christopher Hilton
Director
25/09/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
The Event Music Company Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07100038 . The registered office is Pegholme, Bays 61-65 Wharfebank Mills, Ilkley Road, Otley, West Yorkshire, LS21 3JP.
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.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. 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. It is amortised to the profit and loss account over its estimated economic life of .... years.
2.4. 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% Reducing balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 20% Reducing balance
Computer Equipment 25% Reducing balance
2.5. 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.
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Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2024 62,784
As at 31 December 2024 62,784
Amortisation
As at 1 January 2024 62,784
As at 31 December 2024 62,784
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 82,573 19,995 3,114 21,476 127,158
Additions 22,294 - 3,564 3,031 28,889
As at 31 December 2024 104,867 19,995 6,678 24,507 156,047
Depreciation
As at 1 January 2024 69,131 7,611 2,554 14,560 93,856
Provided during the period 6,177 3,096 468 2,108 11,849
As at 31 December 2024 75,308 10,707 3,022 16,668 105,705
Net Book Value
As at 31 December 2024 29,559 9,288 3,656 7,839 50,342
As at 1 January 2024 13,442 12,384 560 6,916 33,302
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 9,450 40,073
Other debtors 11,837 9,002
21,287 49,075
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 7,962 22,050
Bank loans and overdrafts 7,335 7,156
Corporation tax 3,502 3,409
VAT 4,259 7,345
Accruals and deferred income 4,249 3,505
Directors' loan accounts 5,161 3,957
Amounts owed to other participating interests - 11,400
32,468 58,822
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 4,541 11,987
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
Artistic AV Ltd
Under common control.
The amount owed to the related party at the balance sheet date was £Nil (2023: £11,400)
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