Registration number: 11125901

Young Poet Records Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

Young Poet Records Ltd

Company Information

Directors

H H Worskett W Frank T E P Pitt Ford

Registered office

85 Great Portland Street Great Portland Street London W1W 7LT

Accountants

Balance Accounts Limited Chartered Certified Accountants 4 Beau Street Bath BA1 1QY

Young Poet Records Ltd

(Registration number: 11125901)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	96,942	94,661
Tangible assets	5	1,340	1,857
		98,282	96,518
Current assets
Debtors	6	101,394	216,965
Cash at bank and in hand		109,999	5,596
		211,393	222,561
Creditors: Amounts falling due within one year	7	(324,056)	(203,510)
Net current (liabilities)/assets		(112,663)	19,051
Total assets less current liabilities		(14,381)	115,569
Creditors: Amounts falling due after more than one year	7	(1,169)	(4,583)
Net (liabilities)/assets		(15,550)	110,986
Capital and reserves
Called up share capital	8	124	124
Share premium reserve		330,224	330,224
Retained earnings		(345,898)	(219,362)
Shareholders' (deficit)/funds		(15,550)	110,986

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Young Poet Records Ltd

(Registration number: 11125901)
Balance Sheet as at 31 March 2025

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 December 2025 and signed on its behalf by:
 

......................................... H H Worskett Director

Young Poet Records Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 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:
85 Great Portland Street
Great Portland Street
London
W1W 7LT
England

These financial statements were authorised for issue by the Board on 30 December 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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

During the year the Company made a loss and had negative liabilities at the year end of £15,550 (2024 - net assets of £110,896). It was therefore necessary to consider the appropriateness of preparing the accounts on the going concern basis.

The Company received a second advance from Believe International during the year and the balance owing to Believe International at the year end was £273,971. This advance is repaid monthly from royalties received and there are no fixed terms for repayment.

It was therefore considered appropriate to prepare the accounts on the going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Young Poet Records Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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 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.

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
Office equipment	25% straight line

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
Production and marketing development costs	Over the term of the individual artists' licence agreement

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Young Poet Records Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2024 - 2).

Young Poet Records Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Intangible assets

	Production & Marketing Development  £	Total £
Cost or valuation
At 1 April 2024	186,308	186,308
Additions acquired separately	34,497	34,497
At 31 March 2025	220,805	220,805
Amortisation
At 1 April 2024	91,647	91,647
Amortisation charge	32,216	32,216
At 31 March 2025	123,863	123,863
Carrying amount
At 31 March 2025	96,942	96,942
At 31 March 2024	94,661	94,661

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2024	4,081	4,081
Additions	632	632
Disposals	(207)	(207)
At 31 March 2025	4,506	4,506
Depreciation
At 1 April 2024	2,224	2,224
Charge for the year	1,059	1,059
Eliminated on disposal	(117)	(117)
At 31 March 2025	3,166	3,166
Carrying amount
At 31 March 2025	1,340	1,340
At 31 March 2024	1,857	1,857

Young Poet Records Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Debtors

	Note	2025 £	2024 £
Trade debtors		648	150,000
Other debtors		2,245	3,713
Prepayments		2,221	1,500
Accrued income		16,170	10,214
Deferred tax assets		80,110	51,538
		101,394	216,965

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings		3,959	2,537
Trade creditors		23,478	11,365
Amounts due to related parties		3,659	11,035
Social security and other taxes		262	62
Outstanding defined contribution pension costs		113	129
Other payables		274,186	151,456
Accruals		18,399	26,926
		324,056	203,510
Due after one year
Loans and borrowings		1,169	4,583

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £0.0001 each	1,236,196	124	1,236,196	124