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Registered number: 02004860 MEGAMUSIC LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
MEGAMUSIC LIMITED
CONTENTS
| Page
Statement of Financial Position | 1
Notes to the Financial Statements | 2 - 5
MEGAMUSIC LIMITED REGISTERED NUMBER:02004860
STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investments | 5 |  | 100 |  | 100
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 265,031 |  | 120,537 |
Bank and cash balances |  | 951,350 |  | 1,027,181 |
|  | 1,216,381 |  | 1,147,718 |
Current liabilities |  |  |  |  |
Creditors: amounts falling due within one year | 7 | (78,868) |  | (60,686) |
Net current assets |  |  | 1,137,513 |  | 1,087,032
Net assets |  |  | 1,137,613 |  | 1,087,132
Capital and reserves |  |  |  |  |
Called up share capital | 8 |  | 100 |  | 100
Profit and loss account |  |  | 1,137,513 |  | 1,087,032
|  |  | 1,137,613 |  | 1,087,132
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 statement of comprehensive income 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 26 March 2026.
G Ballard
Director
The notes on pages 2 to 5 form part of these financial statements. Page 1
MEGAMUSIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
1. | General information
Megamusic Limited is a private company limited by shares incorporated in England and Wales. The registered office address is 2nd Floor Connaught House, 1-3 Mount Street, London, W1K 3NB. The principal activity of the Company during the year was that of artistic creation. The Company's functional and presentational currency is £ Sterling. 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. The following principal accounting policies have been applied:
| 2.2 | Turnover
Turnover comprises revenue recognised by the company in respect of services supplied in the year exclusive of trade discounts and excluding Value Added Tax. Revenue is recognised when the service is provided.
| 2.3 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.4 | 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:
|  |  |  | Plant and machinery | - | 33% |
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.
| 2.5 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Page 2
MEGAMUSIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.6 | Basic financial instruments
The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to related parties. Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties. Interest bearing borrowings, such as bank loans, classified as basic financial instruments are recognised initially at the present value of future payments discounted at a market rate of interest. Thereafter they are stated at amortised cost using the effective interest method. Cash and cash equivalents comprise cash balances and call deposits.
| 2.7 | 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.
3. | Employees
| The average monthly number of employees, including directors, during the year was 2 (2024 - 2).
Page 3
MEGAMUSIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
4. | Tangible fixed assets
|  | Plant and machinery
|  | £
| Cost or valuation |
| At 1 July 2024 | 10,308
| At 30 June 2025 | 10,308
| Depreciation |
| At 1 July 2024 | 10,308
| At 30 June 2025 | 10,308
| Net book value |
| At 30 June 2025 | -
| At 30 June 2024 | -
5. | Fixed asset investments
|  | Unlisted investments
|  | £
| Cost or valuation |
| At 1 July 2024 | 100
| At 30 June 2025 | 100
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed by group undertakings | 229,713 | 46,313
| Other debtors | - | 53,582
| Prepayments and accrued income | 35,318 | 20,642
|  | 265,031 | 120,537
Page 4
MEGAMUSIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other taxation and social security | 72,454 | 48,486
| Other creditors | 461 | 8,111
| Accruals and deferred income | 5,953 | 4,089
|  | 78,868 | 60,686
8. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 100 (2024 - 100) Ordinary shares of £1 each | 100 | 100
Page 5