REGISTERED NUMBER: 02380325 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

VINYL SCHNOZZA LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A C De La Mata

SECRETARY:

A C De La Mata

REGISTERED OFFICE:

25 Powis Terrace

London

W11 6JJ

REGISTERED NUMBER:

02380325 (England and Wales)

ACCOUNTANTS:

MGR Weston Kay LLP

Chartered Accountants

55 Loudoun Road

St John's Wood

London

NW8 0DL

FIXED ASSETS

Tangible assets

4

-

1,220

CURRENT ASSETS

Debtors

5

28,505

16,896

Cash at bank

7,375

7,052

35,880

23,948

CREDITORS

Amounts falling due within one year

6

(260,054

)

(228,181

)

NET CURRENT LIABILITIES

(224,174

)

(204,233

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(224,174

)

(203,013

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

(224,274

)

(203,113

)

SHAREHOLDERS' FUNDS

(224,174

)

(203,013

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit And Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 December 2025 and were signed by:

A C De La Mata - Director

1.	STATUTORY INFORMATION

Vinyl Schnozza Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover represents the amounts derived from the sale of goods, services, licences and non-returnable advances stated net of value added tax. Turnover is recognised at the point goods are sold to the customer or when the service is provided.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment 25% reducing balance

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables 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.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and loans from fellow group companies, 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.

Trade payables 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Non-returnable advances

Advances received which are non-returnable but recoupable out of earnings are treated as income.

Royalties payable

Advances to artists and licensors are charged to the profit and loss account in the accounting period in which they are paid. Royalties due to artists, writers and composers in excess of dvances paid are charged to the profit and loss account on an accruals basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2024

109,783

Disposals

(109,783

)

At 31 December 2024

-

DEPRECIATION

At 1 January 2024

108,563

Charge for year

305

Eliminated on disposal

(108,868

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

1,220

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

4,567

5,025

Other debtors

23,938

11,871

28,505

16,896

Included in other debtors are amounts owed to connected companies. Interest has not been charged.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

14,673

14,487

Taxation and social security

2,613

3,729

Other creditors

242,768

209,965

260,054

228,181

Included in other creditors are amounts owed to connected companies. Interest has not been charged.

7.	SECURED DEBTS

The company has an outstanding debenture charge that is secured against fixed and floating charge over the undertaking and all assets of the company in respects of its banking facility.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

100

Ordinary

1

100

100

9.	RELATED PARTY DISCLOSURES

During the year, Mr A C De La Mata was a director and shareholder of M.I.H.K. Limited ("MIHK"). During the year the company paid £5,594 (2023: £9,665) in management charges to MIHK. Various connected company loans were also made to and from the company. At 31 December 2024 the balance owed to MIHK by Vinyl was £66,489 (2023: £39,615).

During the year, Mr A C De La Mata was a director and shareholder of Visible Noise Limited ("Visible"). During the year Visible paid £5,913 (2023: £6,940) management charges to Vinyl. Various connected company loans were also made to and from the company. At 31 December 2024, the balance owed from Visible to Vinyl was £9,711 (2023: £3,497).

During the year, Mr A C De La Mata was a director and shareholder of La Boca Limited ("La Boca"). During the year the company paid £147 (2023: £186) in management charges to La Boca. Various connected company loans were also made to and from the company. At 31 December 2024, the balance owed by La Boca to Vinyl was £11,450 (2023: £5,597).

The bank accounts of the company and various other companies in which the director have an interest as director and shareholder are secured by an unlimited inter company cross guarantee.