REGISTERED NUMBER: 07146220 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 30 MARCH 2024 TO 31 MARCH 2025

FOR

IMHOTEP MUSIC LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P C Okogwu

REGISTERED OFFICE:

Suite 1, Invicta Business Centre

Monument Way

Orbital Park

Ashford

Kent

TN24 0HB

REGISTERED NUMBER:

07146220 (England and Wales)

ACCOUNTANTS:

McCabe Ford Williams

Chartered Accountants

Invicta Business Centre

Monument Way

Orbital Park

Ashford

Kent

TN24 0HB

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

1,029,007

1,081,643

Investments

7

300,101

300,101

1,329,108

1,381,744

CURRENT ASSETS

Debtors

8

912,486

841,560

Cash at bank and in hand

55,635

66,497

968,121

908,057

CREDITORS

Amounts falling due within one year

9

413,603

259,505

NET CURRENT ASSETS

554,518

648,552

TOTAL ASSETS LESS CURRENT LIABILITIES

1,883,626

2,030,296

CREDITORS

Amounts falling due after more than one year

10

(565,903

)

(582,029

)

PROVISIONS FOR LIABILITIES

(16,923

)

(25,075

)

NET ASSETS

1,300,800

1,423,192

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,300,700

1,423,092

1,300,800

1,423,192

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2025 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 December 2025 and were signed by:

P C Okogwu - Director

1.	STATUTORY INFORMATION

Imhotep Music 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible 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.

The estimated useful lives range as follows:

Image Rights - 4 years

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

2% straight line

Plant and machinery etc

-

25% on a straight line basis and 25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 (2024 - 6 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 30 March 2024

and 31 March 2025

500,000

AMORTISATION

At 30 March 2024

and 31 March 2025

500,000

NET BOOK VALUE

At 31 March 2025

-

At 29 March 2024

-

6.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 30 March 2024

1,001,372

94,425

25,230

112,011

1,233,038

Additions

-

1,100

-

-

1,100

At 31 March 2025

1,001,372

95,525

25,230

112,011

1,234,138

DEPRECIATION

At 30 March 2024

20,027

78,135

25,230

28,003

151,395

Charge for period

20,028

5,705

-

28,003

53,736

At 31 March 2025

40,055

83,840

25,230

56,006

205,131

NET BOOK VALUE

At 31 March 2025

961,317

11,685

-

56,005

1,029,007

At 29 March 2024

981,345

16,290

-

84,008

1,081,643

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 30 March 2024

and 31 March 2025

112,011

DEPRECIATION

At 30 March 2024

28,003

Charge for period

28,003

At 31 March 2025

56,006

NET BOOK VALUE

At 31 March 2025

56,005

At 29 March 2024

84,008

7.	FIXED ASSET INVESTMENTS

2025

2024

£

£

Shares in group undertakings

101

101

Other investments not loans

300,000

300,000

300,101

300,101

Additional information is as follows:

Shares in

group

undertakings

£

COST

At 30 March 2024

and 31 March 2025

101

NET BOOK VALUE

At 31 March 2025

101

At 29 March 2024

101

Investments (neither listed nor unlisted) were as follows:

2025

2024

£

£

Partnership share in a UK LLP

300,000

300,000

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

4,910

1,950

Amounts owed by group undertakings

775,614

714,866

Other debtors

131,962

124,744

912,486

841,560

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

45,700

45,700

Hire purchase contracts (see note 11)

18,000

18,000

Trade creditors

17,740

4,894

Amounts owed to group undertakings

171,659

87,120

Taxation and social security

124,075

66,983

Other creditors

36,429

36,808

413,603

259,505

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

498,919

510,124

Hire purchase contracts (see note 11)

66,984

71,905

565,903

582,029

11.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2025

2024

£

£

Net obligations repayable:

Within one year

18,000

18,000

Between one and five years

66,984

71,905

84,984

89,905

12.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

544,619

555,824

Hire purchase contracts

84,984

89,905

629,603

645,729

The company has a mortgage which is secured by a first legal charge over its freehold property and a debenture over the company. In addition the director has provided a personal guarantee limited to £500,000 in respect of the mortgage.

The hire purchase amounts are secured against the related vehicle.

13.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the periods ended 31 March 2025 and 29 March 2024:

2025

2024

£

£

P C Okogwu

Balance outstanding at start of period

(501

)

64,715

Amounts advanced

395,728

278,178

Amounts repaid

(395,350

)

(343,394

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

(123

)

(501

)

The amount noted above is in respect of cash withdrawn in excess of expenses borne on behalf of the company. This amount is unsecured, interest free and repayable on demand.

14.	RELATED PARTY DISCLOSURES

Included in debtors at the balance sheet date is an amount of £88,453 (2024: £173,036) due from a wholly owned subsidiary company. The amount is in respect of cash advanced and net expenses borne on behalf of that company. The amount is unsecured, interest free and repayable on demand.

Included in debtors at the balance sheet date is an amount of £659,897 (2024: £523,073) due from a company owned and controlled by the director. The amount is in respect of expenses borne on behalf of that company. This amount is unsecured, interest free and repayable on demand.

Included in debtors at the balance sheet date is an amount of £5,000 (2024: £5,000) due from a company owned and controlled by a family member of the director. The amount is in respect of a cash loan to that company. This amount is unsecured, interest free and repayable on demand.