Registration number:
Financial Music Limited
for the Year Ended 31 December 2025
Registration number:
Financial Music Limited
for the Year Ended 31 December 2025
Financial Music Limited
Contents
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Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Financial Music Limited
Company Information
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Director |
Mrs V J Streater |
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Company secretary |
Mrs V J Streater |
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Registered office |
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Accountants |
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Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Financial Music Limited
for the Year Ended 31 December 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Financial Music Limited for the year ended 31 December 2025 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Financial Music Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Financial Music Limited and state those matters that we have agreed to state to the Board of Directors of Financial Music Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Financial Music Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Financial Music Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Financial Music Limited. You consider that Financial Music Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Financial Music 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 accounts.
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Chartered Accountants
Afon House
Worthing Road
Horsham
West Sussex
RH12 1TL
Financial Music Limited
(Registration number: 05620605)
Balance Sheet as at 31 December 2025
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Note |
2025 |
2024 |
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Current assets |
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Investments |
75,990 |
153,665 |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
2 |
2 |
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Profit and loss account |
(146,228) |
(92,675) |
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Shareholders' deficit |
(146,226) |
(92,673) |
For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Financial Music Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
As at 31 December 2025, the company's liabilities exceeded its assets. However, the company has the support of its director and shareholders who have agreed to provide additional finance if necessary. Whilst this agreement is not contractual, the director and shareholders are of the opinion that it will provide sufficient resources to enable the company to continue trading for the foreseeable future and therefore the accounts have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Financial Music Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are not interest bearing and are stated at nominal value.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
Recognition and measurement
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Financial Music Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
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Investments |
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Financial assets at fair value through profit and loss |
Total |
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Investments |
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Cost or valuation |
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At 1 January 2025 |
153,666 |
153,666 |
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Fair value adjustments |
(36,818) |
(36,818) |
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Additions |
239,320 |
239,320 |
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Disposals |
(280,178) |
(280,178) |
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At 31 December 2025 |
75,990 |
75,990 |
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Creditors |
Creditors: amounts falling due within one year
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2025 |
2024 |
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Due within one year |
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Taxation and social security |
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- |
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Accruals and deferred income |
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Other creditors |
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The other creditors of £334,897 (2024 - £335,056) represent loans from the director and shareholders which the company can repay at any time before 8 May 2028. The loans were interest free during the years ended 31 December 2024 and 2025.
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Related party transactions |
During the year the company did not receive any further loans from the director and shareholders (2024: £NIL). The company can repay the balance on the loans from the director and shareholders, the total of which at the year end was £334,897 (2024: £335,056), at any time before 8 May 2028. The loans were interest free during the years ended 31 December 2024 and 2025.
Financial Music Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
Director's remuneration
The director's remuneration for the year was as follows:
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2025 |
2024 |
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Remuneration |
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Contributions paid to money purchase schemes |
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12,941 |
13,007 |