Registered number: 01339525
FOR THE YEAR ENDED 31 DECEMBER 2024
MIDLAND CONCERT PROMOTIONS GROUP LIMITED
COMPANY INFORMATION
MIDLAND CONCERT PROMOTIONS GROUP LIMITED
CONTENTS
MIDLAND CONCERT PROMOTIONS GROUP LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The principal activity of the company is that of a holding company.
The profit for the year, after taxation, amounts to £nil (2023 - £nil).
The statement of financial position shows the Company's financial position at the year end. Net assets are unchanged and remain at £12,653,598 (2023 - £12,653,598).
The statement of financial position shows the Company's financial position at the year end. Net assets are unchanged and remain at £12,653,598 (2023 - £12,653,598).
Systems and procedures are in place to identify, assess and mitigate major business risks that could impact the Company. Monitoring exposure to risk and uncertainty is an integral part of the Company's structured management processes. Generally, the principal risks that the Company faces are operational risk, competition, regulatory and legislative impacts, recruitment and retention of staff and maintenance of reputation, as well as financial risk.
The Company forms part of a larger group and the principal risks and uncertainties facing it are therefore integrated with those facing the Live Nation group as a whole. Accordingly, the nature of risk and its management are further detailed in the Annual Review and accounts of Live Nation Entertainment, Inc., which are available from the Live Nation website (www.livenation.com).
Directors' statement of compliance with duty to promote the success of the Company
The following statement describes how the directors have had regard to the matters set out in section 172(1)(a) to (f) when performing their duty under section 172 of the Companies Act 2006.
As part of the Board’s decision-making process the Directors consider the potential impact of decisions on relevant stakeholders whilst also having regard to a number of broader factors, including the impact of the Company’s operations on the community and environment, responsible business practices and the likely consequences of decisions in the long term. Through open and transparent dialogue with our key stakeholders, we have been able to develop a clear understanding of their needs, assess their perspectives and monitor their impact on our strategic ambition and culture.
The Board recognises that the Company must adopt effective long-term strategies if the business is to continue to grow and respond to challenges in the short and medium term.
Key decisions and matters that are of strategic importance to the Company are appropriately informed by section 172 factors. The table below sets out our key stakeholders and provides examples of how we have engaged with them in the year and the impact of that engagement.
The Company forms part of a larger group and the principal risks and uncertainties facing it are therefore integrated with those facing the Live Nation group as a whole. Accordingly, the nature of risk and its management are further detailed in the Annual Review and accounts of Live Nation Entertainment, Inc., which are available from the Live Nation website (www.livenation.com).
Directors' statement of compliance with duty to promote the success of the Company
The following statement describes how the directors have had regard to the matters set out in section 172(1)(a) to (f) when performing their duty under section 172 of the Companies Act 2006.
As part of the Board’s decision-making process the Directors consider the potential impact of decisions on relevant stakeholders whilst also having regard to a number of broader factors, including the impact of the Company’s operations on the community and environment, responsible business practices and the likely consequences of decisions in the long term. Through open and transparent dialogue with our key stakeholders, we have been able to develop a clear understanding of their needs, assess their perspectives and monitor their impact on our strategic ambition and culture.
The Board recognises that the Company must adopt effective long-term strategies if the business is to continue to grow and respond to challenges in the short and medium term.
Key decisions and matters that are of strategic importance to the Company are appropriately informed by section 172 factors. The table below sets out our key stakeholders and provides examples of how we have engaged with them in the year and the impact of that engagement.
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MIDLAND CONCERT PROMOTIONS GROUP LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
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MIDLAND CONCERT PROMOTIONS GROUP LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
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MIDLAND CONCERT PROMOTIONS GROUP LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The company is part of an international group and has therefore prepared the non-financial and sustainability information statement including climate-related financial disclosure at the level of its ultimate parent Live Nation Entertainment, Inc. The report is dual purpose to meet the requirements of TCFD reporting for the group but also Sections 414CA and 414CB of the UK Companies Act 2006 requirements for high turnover companies in the UK. The report therefore references TCFD requirements however for UK entities the disclosures are only required relating to non-financial and sustainability information statements including climate-related financial disclosures as required by the Companies Act.
Introduction
We are pleased to share Live Nation Entertainment’s climate-related financial report, prepared in accordance with the recommendations of the Task Force for Climate-Related Financial Disclosures (TCFD). This report details the four key pillars that form our approach to climate change: governance, strategy, risk management, and metrics and targets.
The scope of this 2025 TCFD report covers Live Nation Entertainment at a group (global) level, and incorporates all subsidiaries, including those mandated by TCFD legislative requirements. In this report, we will outline our governance process for identifying and assessing climate risk, describe the actions we are taking to mitigate them, and highlight any related opportunities. As recommended by TCFD guidance, we have engaged with key cross-functional stakeholders from our U.S., UK, and EU divisions to gather and review the data that is featured in this report. (1)
Governance
At Live Nation Entertainment, climate-related risks and opportunities are managed at the highest level of corporate governance. The governance structure aims to engage key decision-makers across the business and ensure that they consider climate risks and opportunities to the same extent as other forms of risk.
Final responsibility for overseeing climate risks and opportunities lies with the Board of Directors, who reviews our Annual Report (10K Form), which includes climate-related topics. Climate-related responsibilities are delegated to the Audit Committee, a sub-group of the Board of Directors that meets on a quarterly basis. From an executive perspective, our Chief Financial Officer has overall accountability for climate change strategy and action within the Board of Directors, and reports progress to the Audit Committee. The climate-related responsibilities of the Chief Financial Officer include approving Environmental, Social and Governance (ESG) program milestones, reviewing and guiding budgets, supporting the risk management process, and monitoring progress on corporate targets. Internal stakeholder groups, including global and regional sustainability teams and the Global Risk and Compliance team, support the implementation of climate-related activities and ensure that corporate sustainability reporting is in line with requirements and regulations. As needed, these activities and reports are reviewed by the Chief Financial Officer.
Introduction
We are pleased to share Live Nation Entertainment’s climate-related financial report, prepared in accordance with the recommendations of the Task Force for Climate-Related Financial Disclosures (TCFD). This report details the four key pillars that form our approach to climate change: governance, strategy, risk management, and metrics and targets.
The scope of this 2025 TCFD report covers Live Nation Entertainment at a group (global) level, and incorporates all subsidiaries, including those mandated by TCFD legislative requirements. In this report, we will outline our governance process for identifying and assessing climate risk, describe the actions we are taking to mitigate them, and highlight any related opportunities. As recommended by TCFD guidance, we have engaged with key cross-functional stakeholders from our U.S., UK, and EU divisions to gather and review the data that is featured in this report. (1)
Governance
At Live Nation Entertainment, climate-related risks and opportunities are managed at the highest level of corporate governance. The governance structure aims to engage key decision-makers across the business and ensure that they consider climate risks and opportunities to the same extent as other forms of risk.
Final responsibility for overseeing climate risks and opportunities lies with the Board of Directors, who reviews our Annual Report (10K Form), which includes climate-related topics. Climate-related responsibilities are delegated to the Audit Committee, a sub-group of the Board of Directors that meets on a quarterly basis. From an executive perspective, our Chief Financial Officer has overall accountability for climate change strategy and action within the Board of Directors, and reports progress to the Audit Committee. The climate-related responsibilities of the Chief Financial Officer include approving Environmental, Social and Governance (ESG) program milestones, reviewing and guiding budgets, supporting the risk management process, and monitoring progress on corporate targets. Internal stakeholder groups, including global and regional sustainability teams and the Global Risk and Compliance team, support the implementation of climate-related activities and ensure that corporate sustainability reporting is in line with requirements and regulations. As needed, these activities and reports are reviewed by the Chief Financial Officer.
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MIDLAND CONCERT PROMOTIONS GROUP LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Strategy
Like all sectors, the live music and events industry has an obligation to consider its contribution to the climate crisis and its efforts to reduce impact. A key part of understanding climate risk and impact is measuring and recording our impact. Live Nation has established our baseline for Scope 1 and 2 greenhouse gas (GHG) emissions, and we are now further developing our strategy through the evaluation of emissions reduction projects, climate risk and opportunity assessments, and our existing Green Nation Charter.
Alongside these efforts, the live music events sector must also evaluate the level of risk from the physical and socioeconomic impacts of climate change. Part of the reason for conducting our risk and opportunity assessment is to fully understand which climate impacts pose substantial risks to the business and which are lower-level risks to be continuously monitored and managed.
Risk Management
Climate risk and opportunity assessment
To enable us to understand the full range of physical and transition risks that we are exposed to, we have conducted an initial climate risk assessment. This assessment considered a range of climate risks, as defined by the Task Force on Climate-Related Financial Disclosures (TCFD), including physical, regulatory, market, legal, and technology risks. Climate-related opportunities were also considered as part of this analysis.
As the basis for the climate scenario assessment, we set the following short-, medium-, and long-term planning horizons in the context of climate change:
- Short-term (0-2 years): Short-term risks to Live Nation Entertainment are generally managed at the
operational level, particularly within the Venues and Festivals teams as these risks are most likely to impact their planning. The Risk Management function maintains oversight of these and supports as needed.
- Medium-term (2-4 years): Medium-term risks are mostly managed at the Risk Management level, with earnings shared with operational teams to input into their risk controls.
- Long-term (4-8 years): Live Nation Entertainment’s long-term risks are typically enterprise-level risks and are therefore considered at the strategic level, with board oversight.
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MIDLAND CONCERT PROMOTIONS GROUP LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
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MIDLAND CONCERT PROMOTIONS GROUP LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Climate scenario analysis
These findings were validated by a climate scenario analysis, which we conducted through both quantitative and qualitative methods. We focused the assessment on both transition and physical risks to cover the holistic range of climate risks we face as a global business.
To conduct the assessment, we used 3 scenarios from the Network for Greening the Financial System (NGFS) framework. We selected NGFS scenarios because they have been developed to provide a common starting point for analysing climate risks to the economy and financial system, whilst offering a plausible range of higher and lower risk outcomes. While primarily developed for use by central banks and supervisors, it is acknowledged that they are also useful for corporate communities. The analysis modelled the scenarios against future time horizons: 2025, 2030, 2035, 2040, and 2050.
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MIDLAND CONCERT PROMOTIONS GROUP LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The scenario analysis enabled us to understand and prepare for the possible worst-case impacts of climate change. Our analysis informed us that transition risks would be greatest in the Net Zero 2050 and Delayed Transition scenarios, though there are differences in the timings, magnitude, and materiality of financial impact. Physical risks were highest in the Current Policies scenario due to minimal emissions reduction and the subsequent effects on the climate crisis.
Whilst the scenario analysis validated the findings of our climate risk and opportunity assessment, it also uncovered new forms of risk. Due to materiality and limited data availability, our initial analysis was constrained to two major markets: the U.S. and Europe. We believe that new risks and opportunities could be identified if we expand the scope of our study to cover the rest of our operating markets (such as Latin America or Australia).
Mitigation measures
Through the climate scenario analysis and the risk assessment, we have identified a number of mitigating measures to prioritise while we continue building our strategy:
1. Actively exploring and piloting heat mitigation strategies at Live Nation Entertainment’s owned and operated sites in areas of high heat and/or precipitation risk, with an initial focus on outdoor sites in North America.
2. Exploring opportunities to decarbonise our business operations through strategies including off-site renewable electricity procurement, on-site renewable energy generation, and diversifying our energy use away from predominantly fossil-based energy. This opportunity analysis will be supported through the ongoing development of a renewable energy strategy.
3. Where applicable, enhancing the sustainability performance of our owned and operated buildings and taking a proactive approach to designing building standards for our venues to increase readiness for new regulations.
4. Demonstrating that Live Nation Entertainment is a responsible business and seeking opportunities to connect with a growing climate-conscious audience through the services that we provide.
Integrating climate risk into enterprise risk management
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MIDLAND CONCERT PROMOTIONS GROUP LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The above risk assessment and scenario analysis highlights the importance of incorporating the physical and transition risks of climate change into our overall risk management framework. For this reason, we have integrated climate-related risk and opportunity identification and management into our multidisciplinary, company-wide enterprise risk management process. This covers all stages of our value chain from talent scouting and booking, to event planning, to ticketing and marketing, live production, and then customer experience.
Metrics and targets
Setting specific, measurable, and time-bound targets is a vital tool to maintain accountability, report on progress, and contribute to the success of our sustainable transition. As part of our Green Nation Sustainability Charter, we announced one target (among other sustainability goals) that is key to guiding our climate strategy and focus efforts. This target supports a unifying vision to accelerate strategic actions across our businesses.
It is important to first accurately measure and record our emissions to achieve these targets, which is why Live Nation completed a robust assessment of our global Scope 1 and 2 greenhouse gas (GHG) emissions. This assessment has been conducted in line with the principles and guidance of the World Resources Institute (WRI) and the World Business Council for Sustainable Development's (WBCSD) Greenhouse Gas Protocol Initiative (GHG Protocol) for corporate GHG accounting and reporting.
Now that Live Nation has completed our global 2022 Scope 1 and 2 GHG emissions baseline and has begun annually quantifying Scope 1 and 2 GHG emissions, we are using this data to develop the roadmap to meet our 2030 emissions target. This exercise, in combination with the completion of our 2024 double materiality assessment, will set a strong foundation for Live Nation Entertainment to achieve its climate targets.
We currently measure progress against the global target and are working to understand how this baseline and target can be applied to divisions and subsidiaries to measure individual progress. In 2023, Live Nation also made plans and preparations to conduct a high-level screening of our Scope 3 GHG emissions based primarily on spends data. Our next step is to set up processes to capture increased levels of primary data from the most material scope 3 categories (as indicated by the screening). Once this has been completed and validated, we will be in a position to report on our Scope 3 GHG emissions.
Some of our UK subsidiaries have reported on their emissions and energy efficiency actions under SECR legislation. Emissions data can be found for Ticketmaster UK Limited, Live Nation (Music) UK Limited, Academy Music Group Limited, Festival Republic Limited, DF Concerts and Events and Cream Global Limited on the UK Companies House Website.
Looking ahead
Live Nation Entertainment is committed to developing a deeper understanding of the impacts of climate change on our business, our people, and our customers. We will continue to assess emerging climate-related risks and
Metrics and targets
Setting specific, measurable, and time-bound targets is a vital tool to maintain accountability, report on progress, and contribute to the success of our sustainable transition. As part of our Green Nation Sustainability Charter, we announced one target (among other sustainability goals) that is key to guiding our climate strategy and focus efforts. This target supports a unifying vision to accelerate strategic actions across our businesses.
It is important to first accurately measure and record our emissions to achieve these targets, which is why Live Nation completed a robust assessment of our global Scope 1 and 2 greenhouse gas (GHG) emissions. This assessment has been conducted in line with the principles and guidance of the World Resources Institute (WRI) and the World Business Council for Sustainable Development's (WBCSD) Greenhouse Gas Protocol Initiative (GHG Protocol) for corporate GHG accounting and reporting.
Now that Live Nation has completed our global 2022 Scope 1 and 2 GHG emissions baseline and has begun annually quantifying Scope 1 and 2 GHG emissions, we are using this data to develop the roadmap to meet our 2030 emissions target. This exercise, in combination with the completion of our 2024 double materiality assessment, will set a strong foundation for Live Nation Entertainment to achieve its climate targets.
We currently measure progress against the global target and are working to understand how this baseline and target can be applied to divisions and subsidiaries to measure individual progress. In 2023, Live Nation also made plans and preparations to conduct a high-level screening of our Scope 3 GHG emissions based primarily on spends data. Our next step is to set up processes to capture increased levels of primary data from the most material scope 3 categories (as indicated by the screening). Once this has been completed and validated, we will be in a position to report on our Scope 3 GHG emissions.
Some of our UK subsidiaries have reported on their emissions and energy efficiency actions under SECR legislation. Emissions data can be found for Ticketmaster UK Limited, Live Nation (Music) UK Limited, Academy Music Group Limited, Festival Republic Limited, DF Concerts and Events and Cream Global Limited on the UK Companies House Website.
Looking ahead
Live Nation Entertainment is committed to developing a deeper understanding of the impacts of climate change on our business, our people, and our customers. We will continue to assess emerging climate-related risks and
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MIDLAND CONCERT PROMOTIONS GROUP LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
opportunities and integrate accountability and ownership into relevant business functions. We are confident that this will enable us to minimize our risk exposure, increase our resilience, and put us in a strong position to capitalize on opportunities in the transition to a low-carbon economy.
(1) Certain statements contained in this TCFD report that are not statements of historical fact constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended. Forward-looking statements are not historical facts or statements of contemporary conditions, but instead represent our beliefs regarding future events, many of which are inherently uncertain and outside of our control. These may include estimates, projections and statements relating to our business plans, objectives and expected operating results and statements regarding environmental, social and governance-related commitments, which are based on our current expectations and assumptions that are subject to risks and uncertainties that may cause actual results to differ materially. In evaluating these statements, you should consider various factors, including the risks and uncertainties that we describe in the “Strategy” section of this report. Readers are cautioned not to place undue reliance on forwardlooking statements, which refer to only the date they are made. We undertake no obligation to update or revise publicly any of these statements because of new information, future events or otherwise.
(1) Certain statements contained in this TCFD report that are not statements of historical fact constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended. Forward-looking statements are not historical facts or statements of contemporary conditions, but instead represent our beliefs regarding future events, many of which are inherently uncertain and outside of our control. These may include estimates, projections and statements relating to our business plans, objectives and expected operating results and statements regarding environmental, social and governance-related commitments, which are based on our current expectations and assumptions that are subject to risks and uncertainties that may cause actual results to differ materially. In evaluating these statements, you should consider various factors, including the risks and uncertainties that we describe in the “Strategy” section of this report. Readers are cautioned not to place undue reliance on forwardlooking statements, which refer to only the date they are made. We undertake no obligation to update or revise publicly any of these statements because of new information, future events or otherwise.
This report was approved by the board on 10 December 2025 and signed on its behalf.
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MIDLAND CONCERT PROMOTIONS GROUP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
The profit for the year, after taxation, amounted to £NIL (2023 - £NIL).
The directors do not propose a dividend for the year.
The directors who served during the year were:
Large UK companies are required to report under the Streamlined Energy and Carbon Reporting (SECR) requirements except where exempt due to emissions being below 40,000 kWh per year. The company's UK emissions falling within the disclosure requirement of the scheme fall below this exemption threshold and therefore no such disclosure is made.
Notwithstanding the risks and uncertainties outlined in the Strategic Report, the directors do not anticipate any significant change in the activities and results of the company in the foreseeable future.
There have been no significant events affecting the Company since the year end.
The auditors, Haslers, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
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MIDLAND CONCERT PROMOTIONS GROUP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
This report was approved by the board on 10 December 2025 and signed on its behalf.
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MIDLAND CONCERT PROMOTIONS GROUP LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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MIDLAND CONCERT PROMOTIONS GROUP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MIDLAND CONCERT PROMOTIONS GROUP LIMITED
We have audited the financial statements of Midland Concert Promotions Group Limited (the 'Company') for the year ended 31 December 2024, which comprise the Profit and loss account, the Balance sheet, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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MIDLAND CONCERT PROMOTIONS GROUP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MIDLAND CONCERT PROMOTIONS GROUP LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
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MIDLAND CONCERT PROMOTIONS GROUP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MIDLAND CONCERT PROMOTIONS GROUP LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the legal and regulatory frameworks that are applicable to the entity we have considered those that have a direct and indirect material impact on the financial statements and operations of the company. These include but are not limited to the Companies Act 2006, GDPR, Employment and Health & Safety legislation and tax legislation.
We obtained an understanding of how the company are complying with those legal and regulatory frameworks by making inquiries to the management. We corroborated our inquiries through our review of documentation generated and assessing the extent of compliance with the relevant laws and regulations.
We discussed among the audit engagement team regarding the opportunities and incentives, including management override of controls, that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.
As a result of performing the above, we identified the greatest potential for material misstatements due to fraud are in the following areas, and our specific procedures performed to address these are described below:
The risk of management override of controls is the area where the financial statements were most susceptible to material misstatement due to fraud. In addition, the key principal risks related to the existence of inappropriate journal entries to impact the profit for the year and management bias in accounting estimates.
Procedures performed to address these were as follows:
• Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud, including known or suspected instances of non-compliance with laws and regulations, and fraud,
• Identifying and assessing the effectiveness of controls management has in place for stock and how fraud is detected and prevented,
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MIDLAND CONCERT PROMOTIONS GROUP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MIDLAND CONCERT PROMOTIONS GROUP LIMITED (CONTINUED)
• Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process,
• Challenging assumptions and judgements made by management in its significant accounting estimates; and
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditor
Old Station Road
Essex
IG10 4PL
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MIDLAND CONCERT PROMOTIONS GROUP LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
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MIDLAND CONCERT PROMOTIONS GROUP LIMITED
REGISTERED NUMBER: 01339525
BALANCE SHEET
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 December 2025 .
The notes on pages 21 to 30 form part of these financial statements.
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