Registration number: 05395481

Northern Music Co. Ltd

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 7

Northern Music Co. Ltd

(Registration number: 05395481)
Balance Sheet as at 29 March 2025

	Note	2025 £		2024 £
Fixed assets
Tangible assets	5		29,622		24,575
Current assets
Debtors	6	1,296,282		1,152,808
Cash at bank and in hand		591,473		737,376
		1,887,755		1,890,184
Creditors: Amounts falling due within one year	7	(33,978)		(159,933)
Net current assets			1,853,777		1,730,251
Total assets less current liabilities			1,883,399		1,754,826
Provisions for liabilities			(2,000)		-
Net assets			1,881,399		1,754,826
Capital and reserves
Called up share capital	10	100		100
Retained earnings		1,881,299		1,754,726
Shareholders' funds			1,881,399		1,754,826

For the financial year ending 29 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 November 2025
 

......................................... A M Farrow Director

Northern Music Co. Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
York House
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PE

The principal place of business is:
The Piazza
First Floor Building
Salts Mill, Victoria Road
Saltaire
BD18 3LA

These financial statements were authorised for issue by the director on 25 November 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including the disclosure and presentation requirements of Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's functional and presentation currency is pound sterling.

Summary of disclosure exemptions

The company has taken advantage of the exemption under 1AC.35 Related Party disclosures from disclosing transactions and balances with fellow group undertakings that are wholly owned..

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when the amount of revenue can be measured reliably and it is probable that future economic benefits will flow to the entity.

Northern Music Co. Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 March 2025

Government grants

Grants are measured at the fair value of the asset received or receivable.

Grants relating to revenue shall be recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.

Grants relating to assets shall be recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred it shall be recognised as deferred income and not deducted from the carrying amount of the asset.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation 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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% straight line
Motor vehicles	25% reducing balance

Northern Music Co. Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 March 2025

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Northern Music Co. Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 March 2025

Financial instruments

Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, 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 for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, 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 receipts discounted at a market rate of interest for a similar debt instrument.

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

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2024 - 6).

Northern Music Co. Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 March 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 30 March 2024	15,000	15,000
At 29 March 2025	15,000	15,000
Amortisation
At 30 March 2024	15,000	15,000
At 29 March 2025	15,000	15,000
Carrying amount
At 29 March 2025	-	-

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 30 March 2024	59,328	25,638	84,966
Additions	14,257	-	14,257
At 29 March 2025	73,585	25,638	99,223
Depreciation
At 30 March 2024	53,981	6,410	60,391
Charge for the year	4,403	4,807	9,210
At 29 March 2025	58,384	11,217	69,601
Carrying amount
At 29 March 2025	15,201	14,421	29,622
At 29 March 2024	5,347	19,228	24,575

6

Debtors

	2025 £	2024 £
Trade debtors	33,735	4,312
Other debtors	942,467	931,975
Prepayments	320,080	216,521
	1,296,282	1,152,808

Northern Music Co. Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 March 2025

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	1,491	8,281
Taxation and social security	7,197	134,377
Accruals and deferred income	20,340	10,960
Other creditors	4,950	6,315
	33,978	159,933

8	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £Nil (2024 - £7,733). This financial commitment is in respect of operating leases.

9	Related party transactions

2025	At 30 March 2024 £	Advances to director £	At 29 March 2025 £
Interest free loan	152,915	28	152,943

2024	At 30 March 2023 £	Advances to director £	At 29 March 2024 £
Interest free loan	152,914	1	152,915

10	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100