Music Capital Limited iXBRL

Music Capital Limited

DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS

for the financial year ended 30 September 2025

MUSIC CAPITAL LIMITED

DIRECTORS AND OTHER INFORMATION


Directors	Kieran Dunlop
	Suk-Fan Sung


Company Registration Number	NI682149


Registered Office and Business Address	The Old School House
	Palace Street
	Derry
	Northern Ireland


Accountants	Strata Financial
	3 Harmony Court
	Harmony Row
	Dublin 2


Bankers	Starling Bank
	7th Floor
	Norfolk House
	31 James' Square
	London


	Danske
	Donegall Square West
	Belfast
	BT1 6JS

MUSIC CAPITAL LIMITED

DIRECTORS' REPORT

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2025

The directors present their report and the unaudited financial statements for the financial year ended 30 September 2025.

Principal Activity

The principal activity of the company is that of an entertainment promoter.

Directors

The directors who served during the financial year are as follows:

Kieran Dunlop

Suk-Fan Sung

There were no changes in shareholdings between 30 September 2025 and the date of signing the financial statements.

Political Contributions

The company did not make any disclosable political donations in the current financial year.

Statement of Directors' Responsibilities

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Special provisions relating to small companies

The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

On behalf of the board

___________________________

Kieran Dunlop

Suk-Fan Sung

Director

15 July 2026

MUSIC CAPITAL LIMITED

ACCOUNTANTS REPORT

TO THE BOARD OF DIRECTORS ON THE COMPILATION OF THE UNAUDITED FINANCIAL STATEMENTS OF MUSIC CAPITAL LIMITED

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2025

In accordance with the engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of the company for the financial year ended 30 September 2025 as set out on pages to which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given to us.

This report is made solely to the Board of Directors of Music Capital Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company’s Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. 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.

We have carried out this engagement in accordance with guidance issued by Chartered Accountants Ireland and have complied with the relevant ethical guidance laid down by Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.

You have acknowledged on the Balance Sheet for the year ended 30 September 2025 your duty to ensure that Music Capital 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 profit of Music Capital Limited. You consider that Music Capital Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Music Capital Limited. For this reason, we have not verified the adequacy, 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.

__________________________________

Strata Financial

3 Harmony Court

Harmony Row

Dublin 2

15 July 2026

MUSIC CAPITAL LIMITED

PROFIT AND LOSS ACCOUNT

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2025

	2025	2024
Notes	£	£

Turnover	206,660	235,334

Cost of sales	(130,220)	(139,261)
	─────────	─────────
Gross profit	76,440	96,073

Administrative expenses	(73,460)	(104,857)
	─────────	─────────
Operating profit/(loss)	2,980	(8,784)

Interest payable and similar expenses	(1,985)	-
	─────────	─────────
Profit/(loss) before taxation	995	(8,784)

Tax on profit/(loss)	-	-
	─────────	─────────
Profit/(loss) for the financial year	995	(8,784)
	─────────	─────────
Total comprehensive income	995	(8,784)
	═════════	═════════

MUSIC CAPITAL LIMITED

Company Registration Number: NI682149

BALANCE SHEET

as at 30 September 2025

		2025	2024
	Notes	£	£

Fixed Assets

Tangible assets

1,090

841

─────────

Current Assets

Debtors

26,843

1,413

Cash and cash equivalents

29,589

14,569

─────────

56,432

15,982

─────────

Creditors: amounts falling due within one year

(106,649)

(66,945)

─────────

Net Current Liabilities

(50,217)

(50,963)

─────────

Total Assets less Current Liabilities

(49,127)

(50,122)

═════════

Capital and Reserves

Called up share capital

100

100

Retained earnings

(49,227)

(50,222)

─────────

Equity attributable to owners of the company

(49,127)

(50,122)

═════════

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).

For the financial year ended 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Board and authorised for issue on 15 July 2026 and signed on its behalf by




________________________________			________________________________
Kieran Dunlop			Suk-Fan Sung
Director			Director

MUSIC CAPITAL LIMITED

STATEMENT OF CHANGES IN EQUITY

AS AT 30 SEPTEMBER 2025

	Called up	Retained	Total
	share	earnings
	capital
	£	£	£

At 1 October 2023	100	(41,438)	(41,338)
	─────────	─────────	─────────
Loss for the financial year	-	(8,784)	(8,784)
	─────────	─────────	─────────
At 30 September 2024	100	(50,222)	(50,122)
	─────────	─────────	─────────
Profit for the financial year	-	995	995
	─────────	─────────	─────────
At 30 September 2025	100	(49,227)	(49,127)
	═════════	═════════	═════════

MUSIC CAPITAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2025

GENERAL INFORMATION

Music Capital Limited is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI682149. The registered office of the company is The Old School House, Palace Street, Derry, Northern Ireland which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the financial year ended 30 September 2025 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006. These are the company's first set of financial statements prepared in accordance with FRS 102.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Turnover

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Tangible assets and depreciation

Tangible assets are stated at cost or at valuation, less accumulated depreciation. Cost comprises purchase price and other directly attributable costs. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:

Plant and machinery

20% Straight line

Fixtures, fittings and equipment

20% Straight line

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the Balance Sheet bank overdrafts are shown within Creditors.

Borrowing costs

Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Taxation and deferred taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

ADOPTION OF FRS 102 SECTION 1A

This is the first set of financial statements prepared by Music Capital Limited in accordance with accounting standards issued by the Financial Reporting Council, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A (Small Entities). The company transitioned from previously extant Irish and UK GAAP to FRS 102 Section 1A as at 1 January 2016.

EMPLOYEES

The average monthly number of employees, including directors, during the financial year was 0, (2024 - 0).


5.	TANGIBLE ASSETS
		Plant and	Fixtures,	Total
		machinery	fittings and
			equipment
		£	£	£
	Cost
	At 1 October 2024	944	342	1,286
	Additions	-	633	633
		─────────	─────────	─────────
	At 30 September 2025	944	975	1,919
		─────────	─────────	─────────
	Depreciation
	At 1 October 2024	377	68	445
	Charge for the financial year	189	195	384
		─────────	─────────	─────────
	At 30 September 2025	566	263	829
		─────────	─────────	─────────
	Net book value
	At 30 September 2025	378	712	1,090
		═════════	═════════	═════════
	At 30 September 2024	567	274	841
		═════════	═════════	═════════


6.	DEBTORS	2025	2024
		£	£

	Trade debtors	26,843	1,413
		═════════	═════════


7.	CREDITORS	2025	2024
	Amounts falling due within one year	£	£

	Bank loan	3,398	-
	Trade creditors	6,519	4,937
	Taxation (Note 8)	8,450	10,291
	Directors' current accounts	26,142	15,416
	Accruals and deferred income	62,140	36,301
		─────────	─────────
		106,649	66,945
		═════════	═════════


8.	TAXATION	2025	2024
		£	£

	Creditors:
	VAT	8,450	10,291
		═════════	═════════

CAPITAL COMMITMENTS

The company had no material capital commitments at the financial year-ended 30 September 2025.

10.

DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the financial year, the director made a loan to a the company amounting to £ 14,722. The company made repayments of £3,996. The closing Director Loan balance is £26,142. The Loan from the director is unsecured, interest free and repayable on demand.

11.

POST-BALANCE SHEET EVENTS

There have been no significant events affecting the company since the financial year-end.

MUSIC CAPITAL LIMITED

SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS

TRADING STATEMENT

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2025




		2025	2024
	Schedule	£	£

Sales		206,660	235,334
Cost of sales	1	(130,220)	(139,261)
		─────────	─────────
Gross profit		76,440	96,073
		─────────	─────────
Gross profit Percentage		37.0%	40.8%
		─────────	─────────

Overhead expenses	2	(75,445)	(104,857)
		─────────	─────────
Net profit/(loss)		995	(8,784)
		═════════	═════════

MUSIC CAPITAL LIMITED

SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS

SCHEDULE 1 : COST OF SALES

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2025




	2025	2024
	£	£
Cost of Sales

Merchant fees	18,348	21,236
Performer Hire & Expenses	108,592	118,025
Crew Costs	3,280	-
	─────────	─────────
	130,220	139,261
	═════════	═════════

MUSIC CAPITAL LIMITED

SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS

SCHEDULE 2 : OVERHEAD EXPENSES

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2025




	2025	2024
	£	£

Administration Expenses

Performer welfare

406

Insurance

1,611

1,226

Repairs and maintenance

Printing, postage and stationery

1,318

1,279

Advertising

21,416

19,299

Telephone Broadband

2,595

1,812

Hire of equipment

13,830

Room Hire

18,357

12,843

Motor expenses

1,364

Travelling and entertainment

14,499

13,703

Legal and professional

7,624

8,457

Accountancy Fees

4,280

5,014

Bank charges

General expenses

(986)

1,286

Security systems

574

24,427

Subscriptions

313

996

Depreciation of tangible assets

384

257

Charitable donations

─────────

73,460

104,857

─────────

Finance

Bank interest paid	1,985	-
	─────────	─────────

Total Overheads	75,445	104,857
	═════════	═════════