ACCOUNTS - Final Accounts preparation

Registered number: 07850518

FLY EYE PUBLISHING LTD

UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024


FLY EYE PUBLISHING LTD REGISTERED NUMBER:07850518

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£


Current assets
Debtors: amounts falling due within one year	5	43,871		107,218
Cash at bank and in hand	6	47,089		85,624
		90,960		192,842
Creditors: amounts falling due within one year	7	(65,360)		(88,070)
Net current assets			25,600		104,772
Total assets less current liabilities			25,600		104,772

Net assets			25,600		104,772

Capital and reserves
Called up share capital	8	1,000	1,000
Profit and loss account		24,600	103,772
		25,600	104,772

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 on 31 December 2025.

A Wiles

Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1


FLY EYE PUBLISHING LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Fly Eye Publishing Ltd is a private company, limited by shares, registered in England and Wales, registration number 07850518. During the year, the registered office address changed from 16 - 19 Eastcastle Street, London, W1W 8DY to Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.

The principal activity of the company continued to be that of music publishing activity.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

2.2

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

2.3

Turnover

Turnover 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 music publishing activity is recognised when it is probable the company will receive the right to the consideration due under the contract.

Royalties receivable are recognised at the year end date by the company per the royalty statements.

2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.5

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.

Page 2


FLY EYE PUBLISHING LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

Tangible fixed assets (continued)

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.

2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

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.

2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 3


FLY EYE PUBLISHING LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4.	Tangible fixed assets

		Computer equipment
		£
	Cost
	At 1 January 2024	500
	At 31 December 2024	500
	Depreciation
	At 1 January 2024	500
	At 31 December 2024	500
	Net book value
	At 31 December 2024	-
	At 31 December 2023	-

Debtors

					2024	2023
					£	£


Amounts owed by group undertakings	20,563	19,161
Other debtors	291	63,269
Prepayments and accrued income	23,017	24,788
	43,871	107,218

6.	Cash
		2024	2023
		£	£

	Cash at bank and in hand	47,089	85,624

Page 4


FLY EYE PUBLISHING LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

7.	Creditors: amounts falling due within one year
		2024	2023
		£	£

Trade creditors	-	1,611
Amounts owed to group undertakings	35,457	43,012
Corporation tax	20,407	33,397
Other creditors	6,280	6,280
Accruals	3,216	3,770
	65,360	88,070

8.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

1,000 (2023 - 1,000) Ordinary shares of £1.00 each	1,000	1,000

9.	Dividend paid

During the year, dividends of £100,000 (2023 - £NIL) was paid.

10.	Transactions with directors

At the year end the company owed £6,280 (2023 - £6,280) to the directors. This loans are unsecured, interest free and repayable on demand.

11.	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.

Page 5