REGISTERED NUMBER: 02517090 (England and Wales)

Unaudited Financial Statements

for the Period 1 January 2024 to 31 March 2025

for

Notting Hill Music (UK) Limited

Page

Company Information

1

Chartered Certified Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

4

Directors:

A Mcqueen

D Loader

Registered office:

128 City Road

London

EC1V 2NX

Registered number:

02517090 (England and Wales)

Accountants:

Burfords

Chartered Certified Accountants

19 Welling High Street

Welling

Kent

DA16 1TR

The following reproduces the text of the report prepared for the directors in respect of the Company's annual unaudited financial statements. In accordance with the Companies Act 2006, the Company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Notting Hill Music (UK) Limited for the period ended 31 March 2025 which comprise the Statement of Comprehensive Income, Statement of Financial Position and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Notting Hill Music (UK) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Notting Hill Music (UK) Limited and state those matters that we have agreed to state to the Board of Directors of Notting Hill Music (UK) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at

https://www.accaglobal.com/gb/en/technical-activities/technical-resources-

search/2009/october/factsheet-163-audit-exempt-companies.html.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Notting Hill Music (UK) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Notting Hill Music (UK) Limited. You consider that Notting Hill Music (UK) Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Notting Hill Music (UK) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Burfords

Chartered Certified Accountants

19 Welling High Street

Welling

Kent

DA16 1TR

29 May 2026

Current assets

Debtors

4

2,834,664

3,554,524

Creditors

Amounts falling due within one year

5

4,255,217

4,593,922

Net current liabilities

(1,420,553

)

(1,039,398

)

Total assets less current liabilities

(1,420,553

)

(1,039,398

)

Capital and reserves

Called up share capital

6

40,000

40,000

Retained earnings

(1,460,553

)

(1,079,398

)

Shareholders' deficit

(1,420,553

)

(1,039,398

)

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2025.

The members have not required the Company to obtain an audit of its financial statements for the period ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 May 2026 and were signed on its behalf by:

D Loader - Director

1.	Statutory information

Notting Hill Music (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The Notting Hill Music Group continue to work closely with Kobalt Music Services Limited who administer the Group's catalogue, seeking out and collecting royalties throughout most territories in the World excluding Japan and the Far East where we have long standing arrangements with Sony and Sony ATV.

The groups bankers, Coutts & Co., continue to be supportive of the Group in its ongoing development having considered the off balance sheet value of its catalogue. The entrance into the market of a number of heavily funded acquisition vehicles hungry for music copyrights continues to push the value of the catalogue ever upwards with comparable song catalogues now achieving multiples in excess of 20 times annual NPS.

The Directors continue to pursue their dual focus on extending retention of rights periods with existing clients to enhance catalogue value whilst adding a few high-quality new writers & producers to its roster each year to maintain growth in current hit royalty income. The policy is working brilliantly with records breaking income quarters regularly being posted.

There has been an increase in the volume of synchronisations placed in films, television and adverts and the public continue to initiate billions of streams from the Group's catalogue throughout the world from the likes of Spotify, Apple Music and Amazon Music. With uplift in publishing income from streaming coming from the final Copyright Royalty Board ruling in the USA (an improvement of some 40% on previous streaming rates) the company is already seeing a dramatic uptick in streaming earnings which now forms the bedrock of our royalty income.

Turnover

Turnover is derived from the Company's principal activity and is accounted for on an earned basis. Royalties receivable and advances are credited to profit or loss when earned.

Turnover is recognised to the extent that it is possible that the economic benefits will flow to the Company and the revenue 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.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Advances to artists

Advances to artists are expensed in the year they are incurred.

3.	Employees and directors

The average number of employees during the period was 6 (2023 - 6 ) .

4.

Debtors: amounts falling due within one year

31.3.25

31.12.23

£

£

Amounts owed by group undertakings

2,690,153

3,302,291

Other debtors

144,511

252,233

2,834,664

3,554,524

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

5.

Creditors: amounts falling due within one year

31.3.25

31.12.23

£

£

Trade creditors

3,908,187

4,193,591

Amounts owed to group undertakings

318,291

222,936

Taxation and social security

11,158

24,930

Other creditors

17,581

152,465

4,255,217

4,593,922

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

The bank overdraft facility of which £Nil (2023: £Nil) was utilised at the year end in the parent company, The Notting Hill Music Group Limited, is secured by way of a composite guarantee between Notting Hill Music (UK) limited, Notting Hill Copyrights Limited and The Notting Hill Music Group Limited and a mortgage Debenture by Notting Hill Music (UK) Limited dated 09 April 2010.

6.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.12.23

value:

£

£

40,000

Ordinary

1

40,000

40,000

7.	Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charges represents contributions payable by the Company to the fund and amounted to £6,270 (2023: £5,317). Contributions totalling £1,319 (2023: £2,620) were payable to the fund at the reporting date and are included in creditors.

8.	Financial commitments, guarantees and contingent liabilities

At 31 March 2025 the Company was committed to paying further advances to artists totalling £159,000 if certain performance criteria are met (2023: £231,000).

9.	Parent company

The ultimate parent company and controlling party is The Notting Hill Music Group Limited, a limited company registered in England and Wales.