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Registered number: 11776043 SEPTEMBER MUSIC PUBLISHING LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
SEPTEMBER MUSIC PUBLISHING LIMITED REGISTERED NUMBER:11776043
BALANCE SHEET AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 1,117 |  | -
Investments | 5 |  | - |  | -
|  |  | 1,117 |  | -
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 153,477 |  | 150,538 |
Cash at bank | 7 | 14,391 |  | 52,208 |
|  | 167,868 |  | 202,746 |
Creditors: amounts falling due within one year | 8 | (861,074) |  | (631,810) |
Net current liabilities |  |  | (693,206) |  | (429,064)
Total assets less current liabilities |  |  | (692,089) |  | (429,064)
Net liabilities |  |  | (692,089) |  | (429,064)
Capital and reserves |  |  |  |  |
Called up share capital | 9 |  | 1,040 |  | 1,040
Profit and loss account |  |  | (693,129) |  | (430,104)
|  |  | (692,089) |  | (429,064)
Page 1
SEPTEMBER MUSIC PUBLISHING LIMITED REGISTERED NUMBER:11776043
BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024 The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
J M Dickins
Director
Date: 2 December 2025
The notes on pages 3 to 9 form part of these financial statements. Page 2
SEPTEMBER MUSIC PUBLISHING LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
September Music Publishing Limited is a private company, limited by shares, registered in England and Wales, registration number 11776043. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE. The principal activity of the company continued to be that of music publishing. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of the Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small - sized group. The company has therefore taken advantage of the exemption provided by section 399 of the Companies Act 2006 not to prepare group accounts.
| 2.2 | Going concern
On the basis of information and enquiries that are pertinent to the company’s circumstances and which the directors believe to be adequate, it is appropriate to continue to treat the company as a going concern. In particular the directors believe that adequate cash resources will be available to cover the company’s requirements for working capital for at least twelve months from the date of signing the financial statements.
| 2.3 | Foreign currency translation
Functional and presentation currency The company's functional and presentational currency is pound sterling. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses that relate to borrowings and cash are presented in the profit and loss account within 'administration expenses'. All other foreign exchange gains and losses are presented in profit and loss account. Page 3
SEPTEMBER MUSIC PUBLISHING LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.4 | Turnover
Turnover from music publishing is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the music publishing is recognised when it is probable that the company will receive the rights to the consideration due under the contract. Recharged income is recognised when the corresponding expenses have been incurred on behalf of other entities.
| 2.5 | Debtors
Short-term debtors are measured at transaction price, less any impairment.
| 2.6 | Cash
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
| 2.7 | Creditors
Short-term creditors are measured at the transaction price.
| 2.8 | Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as other debtors, trade and other creditors, and loans with related parties.
| 2.9 | Pensions
Defined contribution pension plan The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. Page 4
SEPTEMBER MUSIC PUBLISHING LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.10 | Share-based payments
Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition. The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the company keeping the scheme open or the employee maintaining any contributions required by the scheme). Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period. Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.
| 2.11 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Computer equipment | - | 25% | straight-line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.12 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
3. | Employees
The average monthly number of employees, including directors, during the year was 2 (2023 - 2). Page 5
SEPTEMBER MUSIC PUBLISHING LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
4. | Tangible fixed assets
|  | Computer equipment
|  | £
| Cost |
| Additions | 1,489
| At 31 December 2024 | 1,489
| Depreciation |
| Charge for the year | 372
| At 31 December 2024 | 372
| Net book value |
| At 31 December 2024 | 1,117
| At 31 December 2023 | -
5. | Fixed asset investments
| Subsidiary undertaking
| The following was a subsidiary undertaking of the company:
| Name | Registered office | Class of shares | Holding
| September Music Publishing Inc | 160 Greentree Drive, Ste 101, Dover, Kent, 19904. | Ordinary shares | 100%
Page 6
SEPTEMBER MUSIC PUBLISHING LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
6. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Amounts owed by group companies | 40,313 | 15,313
| Other debtors | 96,993 | 132,182
| Prepayments and accrued income | 16,171 | 3,043
|  | 153,477 | 150,538
7. | Cash
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank | 14,391 | 52,208
8. | Creditors: amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade creditors | 12,000 | 1,008
| Amounts owed to group undertakings | 839,311 | 623,052
| Other taxation and social security | 5,196 | 3,750
| Amounts owed to connected entities | 500 | -
| Accruals | 4,067 | 4,000
|  | 861,074 | 631,810
9. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1,040 (2023 -1,040) Ordinary shares of £1.00 each | 1,040 | 1,040
10. | Pension commitments
The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions by the company to the fund and amount to £6,125 (2023 - £4,250). Page 7
SEPTEMBER MUSIC PUBLISHING LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
11. | Share-based payments
| The company operates a share option scheme. The scheme commenced on 23 October 2019. The options can be exercised based on perfomance and length of service. The directors have assessed the impact of the potential charge to the profit and loss account as a result of grant option in the current period. The directors have determined that the value is not siginificant and therefore no charge to the profit and loss is made.
|  | Weighted average exercise price (pence) 2024 | Number 2024 | Weighted average exercise price (pence) 2023 | Number 2023
| Outstanding at the beginning of the year | 100 | 160 | 100 | 200
| Exercised during the year |  | - | (100) | (40)
| Outstanding at the end of the year | 100 | 160 | 100 | 160
|  |  |  |  | 2024 | 2023
| Option pricing model used | Black Scholes Model | Black Scholes Model
| Weighted average share price (pence) | 100 | 100
| Weighted average contractual life (years) | 5 | 6
| Expected volatility | 10% | 10%
| Expected dividend growth rate | 0% | 0%
| Risk-free interest rate | 2% | 2%
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Equity-settled schemes | - | -
Page 8
SEPTEMBER MUSIC PUBLISHING LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
12. | Related party transactions
| No disclosure has been made of transactions with other wholly owned group companies in accordance with FRS 102 section 1A paragraph 1AC.35. During the year, £12,462 (2023 – £7,020) of administrative expenses were paid by the group companies on behalf of the company. During the year the company was charged management fees of £3,673 (2023 – £9,120) by a group company. During the year the company received net loans of £175,000 (2023 – £194,875) from group companies. The loans are unsecured, interest free and repayable on demand. At the year end, the company owed £839,311 (2023 - £623,054) to group companies and was owed £40,313 (2023 – £15,313) by group companies.
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