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Registered number: 03307408
Once Upon A Time Music Limited
Financial statements
For the Year Ended 30 April 2025
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Once Upon A Time Music Limited
Company Information
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98 Theobalds Road (1st Floor)
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Hurst Accountants Limited
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Chartered Accountants & Statutory Auditors
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Once Upon A Time Music Limited
Contents
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Statement of financial position
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Notes to the financial statements
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Once Upon A Time Music Limited
Registered number: 03307408
Statement of Financial Position
As at 30 April 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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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 income and retained earnings 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:
The notes on pages 2 to 7 form part of these financial statements.
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Once Upon A Time Music Limited
Notes to the Financial Statements
For the Year Ended 30 April 2025
Once Upon A Time Music Limited is a private company limited by share capital, incorporated in England. The address of the registered office and principal place of business is 17 Bowling Green Lane, Clerkenwell, London, EC1R 0BU. The company's registered number is 03307408.
2.Accounting policies
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Basis of preparation of financial statements
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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:
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Foreign currency translation
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Functional and presentation currency
The company's functional and presentational currency is GBP.
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 the Profit and loss account.
Foreign exchange gains and losses are presented in the Profit and loss account within 'administrative expenses'.
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Once Upon A Time Music Limited
Notes to the Financial Statements
For the Year Ended 30 April 2025
2.Accounting policies (continued)
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
∙the Company has transferred the significant risks and rewards of ownership to the buyer;
∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the transaction; and
∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
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Once Upon A Time Music Limited
Notes to the Financial Statements
For the Year Ended 30 April 2025
2.Accounting policies (continued)
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 income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
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.
Short term creditors are measured at the transaction price.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
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Once Upon A Time Music Limited
Notes to the Financial Statements
For the Year Ended 30 April 2025
2.Accounting policies (continued)
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Financial instruments (continued)
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Impairment of financial assets
Financial assets are assessed for indicators of impairment at each reporting date.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Financial liabilities
Financial liabilities are classified according to the substance of the contractual arrangements entered into.
Basic financial liabilities, which include trade and other payables, are initially measured at their transaction price after transaction costs.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
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The average monthly number of employees, including directors, during the year was 11 (2024 - 11).
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Once Upon A Time Music Limited
Notes to the Financial Statements
For the Year Ended 30 April 2025
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Amounts owed by group undertakings
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Prepayments and accrued income
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Amounts owed by group undertakings are interest-free and repayable on demand.
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Allotted, called up and fully paid
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10,000 (2024 - 10,000) Ordinary shares of £1.00 each
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Once Upon A Time Music Limited
Notes to the Financial Statements
For the Year Ended 30 April 2025
A charge was registered in December 2019 in favour of Toscafund GP Limited as security for a Facilities Agreement made with Once Upon a Time Global Ltd, the Company's ultimate parent undertaking at the reporting date. The Company was party to a security deed of accession, supplemental to a debenture between Once Upon a Time Global Ltd and Toscafund GP Limited. Under the deed, there was a fixed charge and a floating charge (covering all property of the Company). The liability outstanding on Once Upon a Time Global Ltd's debt facility at 30 April 2025 was £19,399,792 (2024: £17,812,410). This charge was subsequently released in November 2025.
A charge was also registered in December 2019 in favour of Calculus Nominees Limited as security for £2,000,000 guaranteed fixed rate loan notes issued by Once Upon a Time Global Ltd. The Company was party to a deed of accession, supplemental to a debenture between Once Upon a Time Global Ltd and Calculus Nominees Limited. Under the deed, there was a fixed charge and a floating charge (covering all property of the Company) at the reporting date. This charge was subsequently released in November 2025.
Subsequent to the year end, a new fixed and floating charge has been registered in favour of Trinity DC GP Limited as security trustee, in relation to the new immediate parent undertaking's debt facility totalling £19,500,000.
The Company operates a defined contributions pension 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 payable by the Company to the fund and amounted to £11,216 (2024: £10,985). Contributions totalling £Nil (2024: £Nil) were payable to the fund at the reporting date.
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Post balance sheet events
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Subsequent to the year end, in November 2025, the entire share capital of the Company was acquired by Once Upon a Time Creative Limited (formerly Project Princeton Holdco Limited).
At 30 April 2025, the Company's immediate parent undertaking was Once Upon a Time London Ltd. Once Upon a Time London Ltd was renamed TAUO 2025 Limited in November 2025, its registered number is 08037404 and the registered office is c/o KR8 Advisory Limited, The Lexicon, 10-12 Mount Street, Manchester, M2 5NT.
At 30 April 2025, Once Upon a Time Global Ltd was the ultimate parent undertaking and there was no overall ultimate controlling party. Once Upon a Time Global Ltd's registered number is 12329089 and its registered office is 17 Bowling Green Lane, Clerkenwell, London, EC1R 0QH.
Subsequent to the year end, in November 2025, the entire share capital of the Company was acquired by Once Upon a Time Creative Limited (formerly Project Princeton Holdco Limited). The ultimate parent undertaking is now Trinity Debt Holdings Limited. There is not a single controlling party.
The auditors' report on the financial statements for the year ended 30 April 2025 was unqualified.
The audit report was signed on 22 May 2026 by Helen Besant-Roberts (Senior statutory auditor) on behalf of Hurst Accountants Limited.
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