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Registered number: 01634791 WHAM MUSIC LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
WHAM MUSIC LIMITED REGISTERED NUMBER:01634791
BALANCE SHEET AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 6 |  | 86,879 |  | 88,465
|  |  | 86,879 |  | 88,465
Current assets |  |  |  |  |
Debtors within one year | 7 | 16,805 |  | 14,506 |
Cash at bank and in hand | 8 | 16,551,038 |  | 17,263,346 |
|  | 16,567,843 |  | 17,277,852 |
Creditors: amounts falling due within one year | 9 | (3,827,034) |  | (4,500,983) |
Net current assets |  |  | 12,740,809 |  | 12,776,869
Total assets less current liabilities |  |  | 12,827,688 |  | 12,865,334
Net assets |  |  | 12,827,688 |  | 12,865,334
Capital and reserves |  |  |  |  |
Called up share capital | 10 |  | 100 |  | 100
Profit and loss account |  |  | 12,827,588 |  | 12,865,234
|  |  | 12,827,688 |  | 12,865,334
Page 1
WHAM MUSIC LIMITED REGISTERED NUMBER:01634791
BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025 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:
C D Organ | S M Esplen
Director | Director
Date: 15 January 2026 | Date:15 January 2026
The notes on pages 3 to 7 form part of these financial statements. Page 2
WHAM MUSIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
1. | General information
Wham Music Limited is a private company, limited by shares, registered in England and Wales, registration number 01634791. The registered office address is Russells, Yalding House, 152-156 Great Portland Street, London, W1W 5QA. The principal activity of the company continued to be that of writers and composers of songs and promoters and distributors of songs and artistes in the music industry. 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 requirements of the Companies Act 2006.
| 2.2 | 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 resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash are presented in the profit and loss account within 'administrative expenses'. All other foreign exchange gains and losses are presented in the profit and loss account.
| 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 writers and composers of songs and promoters, and distributors of songs and artistes activities is recognised when it is probable the company will receive the rights to the consideration due under the contract. Royalties receivable are recognised in the accounting year in which it was received per the royalty statements. Page 3
WHAM MUSIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS 2.Accounting policies (continued)
| 2.4 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.5 | 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 in the countries where the company operates and generates income.
| 2.6 | 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. At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. 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.
| 2.7 | Debtors
Short-term debtors are measured at transaction price, less any impairment.
| 2.8 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.9 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.10 | 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.
| 2.11 | 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. Page 4
WHAM MUSIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
3. | Employees
| The average monthly number of employees, including directors, during the year was 3 (2024 - 3).
4. | Taxation
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Corporation tax |  |
| Current tax on profits for the year | 296,781 | 341,712
| Adjustments in respect of previous periods | - | (5,490)
| Total current tax | 296,781 | 336,222
| Tax on profit | 296,781 | 336,222
| Factors affecting tax charge for the year
| The tax assessed for the year is the same as (2024 -lower than) the standard rate of corporation tax in the UK of 25% (2024 -25%). The differences are explained below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Profit on ordinary activities before tax | 1,187,124 | 1,389,256
| Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 -25%) | 296,781 | 347,314
| Effects of: |  |
| Adjustments to tax charge in respect of prior periods | - | (5,491)
| Group relief (claimed) | - | (5,601)
| Total tax charge for the year | 296,781 | 336,222
| Factors that may affect future tax charges
There were no factors that may affect future tax charges.
5. | Dividends
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Dividends paid | 927,989 | 882,740
Page 5
WHAM MUSIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
6. | Intangible assets
|  | Music catalogue
|  | £
| Cost |
| At 1 April 2024 | 111,078
| At 31 March 2025 | 111,078
| Amortisation |
| At 1 April 2024 | 22,613
| Charge for the year | 1,586
| At 31 March 2025 | 24,199
| Net book value |
| At 31 March 2025 | 86,879
| At 31 March 2024 | 88,465
7. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other debtors | 16,805 | 14,506
8. | Cash
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank | 16,551,038 | 17,263,346
Page 6
WHAM MUSIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
9. | Creditors: amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 21,082 | 25,946
| Amounts owed to group undertakings | 3,560,425 | 4,261,351
| Corporation tax | 234,777 | 195,686
| Accruals | 10,750 | 18,000
|  | 3,827,034 | 4,500,983
10. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 100 (2024 -100) Ordinary shares of £1.00 each | 100 | 100
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. Included within trade creditors at 31 March 2025 are amount payable of £21,082 (2024 - £25,946) to Russells Solicitors, a partnership in which a director is a designated partner. During the year, the company was charged legal fees by Russells Solicitors amounting to £101,175 (2024 - £109,977). During the year, the company was charged consultancy fees of £49,000 (2024 - £24,500) by a director. During the year, the company paid donations to The Mill Charitable Trust of £400,000 (2024 - £340,000). Two of the directors are also trustees of The Mill Charitable Trust.
12. | Controlling party
The parent of the group of which this company is a member is Nobby's Hobbies Holdings Limited, a company registered in England and Wales, whose registered office is Russells, Yalding House, 152-156 Great Portland Street, London, W1W 5QA.
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