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Registration number: 01103988

Autograph Sound Recording Limited Annual Report and Financial Statements for the Year Ended 31 January 2026
Brebners Chartered Accountants & Statutory Auditor 130 Shaftesbury Avenue London W1D 5AR

Autograph Sound Recording Limited

Contents

Company Information | 1
Strategic Report | 2 to 4
Directors' Report | 5
Statement of Directors' Responsibilities | 6
Independent Auditor's Report | 7 to 10
Statement of Income and Retained Earnings | 11
Statement of Financial Position | 12
Notes to the Financial Statements | 13 to 26

Autograph Sound Recording Limited

Company Information

Directors | S Arnold J Sealey S George R Tory W McGonagle

Registered office | 130 Shaftesbury Avenue 2nd Floor London W1D 5EU

Auditor | Brebners Chartered Accountants & Statutory Auditor 130 Shaftesbury Avenue London W1D 5AR

Autograph Sound Recording Limited

Strategic Report for the Year Ended 31 January 2026

The directors present their strategic report for the year ended 31 January 2026.

Principal activity

The principal activity of the company that of the provision of design and consultancy services to the sound industry and the sale and hire of equipment.

Fair review of the business

On 30 January 2026, the group of which the company is a member, underwent a management buyout (MBO), resulting in the transfer of ownership to its senior management team.
The directors are pleased to see a 14% increase in turnover in the year due to increases in hires and equipment sales. Gross profit margin has fallen by 5%, predominantly as a result of increased equipment depreciation and reduced profit on disposals of hire equipment. The increase in depreciation reflects continued investment in new hire equipment which has been vital to meeting current demand and future anticipated growth. Gross profit margin over the past few years has been distorted by a number of factors, most notably the effects of COVID-19 on turnover. The directors now expects the current gross profit margin to remain the new normal after initially believing it was a product of Covid 19 recovery. The net profit margin has fallen by 6%, broadly in line with the decrease in gross profit margin. This performance was achieved despite the company incurring one off costs relating to dilapidation works and preparation for the relocation of premises, demonstrating strong control over overheads and operating expenses.
The Board feels that overall the year has been another positive one for the company financially, and the underlying fundamentals of the company remain sound. The industry has continued its strong post-Covid recovery into the second half of the decade, and the Board remains optimistic about the prospects for the immediate and longer-term future following the management buyout and the move to new premises. Despite ongoing uncertainty with both domestic and global economic conditions, the company's performance this year has been very encouraging.
The group of which the company is a member continued to make some fundamental changes including adjusting critical overheads in line with the amount of work. By virtue of sound financial management, we have consistently met any financial responsibilities throughout the period. We continued to discuss long term contracts with producers to manage the long-term agreements that were in place, protecting both the group and its clients for the future.
The diversity of service provision put in place in previous years continues to pay off and the areas of growth are very evident.

The company's key financial and other performance indicators during the year were as follows:

Financial KPIs | Unit | 2026 | 2025
Turnover | £ | 17,720,158 | 15,492,214
Gross profit | £ | 7,811,795 | 7,631,492
Gross profit margin | % | 44 | 49

The Board of Directors is of the opinion that the benchmarks above are at an acceptable level and expect similar results in the forthcoming year.

Outlook

The company and the group of which it is a member continue to occupy a key place within the market. The strength of our post-Covid recovery and continued strength thereafter has reinforced and increased the respect we hold within our industry. We continue to source new work and we have diversified in certain areas of the industry to satisfy new customers. These changes combined with the move to new premises and the management buyout will make the company stronger in the face of adversity in the future.

Autograph Sound Recording Limited

Strategic Report for the Year Ended 31 January 2026

Future developments

Improved organisation structures internally alongside the MBO and new premises mean that how the company approaches work has revolutionised the capability to do big projects which will continue to help growth, while the continued use of new software for tracking and accountancy has also helped better manage future projects.
Continuing to be proactive on new projects and requesting information earlier is also helping the planning and organisation which in turn allows the management of our financial positions in more detail.

Financial instruments

The company uses basic financial instruments other than derivatives, comprising bank balances, trade creditors, trade debtors, and hire purchase agreements. The main purpose of these instruments is to finance the company's operations.
The company is also exposed to the group composite guarantee, in which it is potentially liable for the loans of other related companies. It is, and has been throughout the year under review, the company policy that no trading in financial instruments shall be undertaken.

Principal risks and uncertainties

There are a few main factors which affect the current and future position in the market. Although manufacturing lead times continue to improve, they still are not back to the schedules of pre Covid. The employment of skilled full-time labour or freelance labour is still a concern - there continues to be a lack of competent people in the industry post Covid, something we are internally working on constantly.
The company has exposure to three main areas of risk: liquidity risk, customer credit exposure and interest rate risk. Due to the nature of the financial instruments used by the company there is no exposure to price risk. The company's approach to managing other risks applicable to the financial instruments concerned is shown below.
In respect of bank balances, the liquidity risk is managed through regular cash flow forecasting and monitoring.
The company has also entered into several hire purchase agreements. These have fixed monthly repayments and the company manages the liquidity risk by ensuring there are sufficient funds to meet the payments.
Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.
Trade creditors' liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.
Global economic uncertainty could have an effect on future turnover but the group feels able to manage this risk by virtue of the move into alternative areas of sound provision and experiences, and managing its access to equipment by way of proactive control over its own large stock resource enabling the continued provision of high quality equipment to its customers.

Autograph Sound Recording Limited

Strategic Report for the Year Ended 31 January 2026

Summary

The Board continuously monitors and responds to changes in the company's risk environment so ensuring that the company remains well placed to address operational, reputational, financial and business risks in a timely and appropriate manner.

Approved by the Board on 27 July 2026 and signed on its behalf by:

.........................................
S Arnold
Director

Autograph Sound Recording Limited

Directors' Report for the Year Ended 31 January 2026

The directors present their report and the financial statements for the year ended 31 January 2026.

Directors of the company

The directors who held office during the year were as follows:

S Arnold

J Sealey (appointed 30 January 2026)

S George (appointed 30 January 2026)

R Tory (appointed 30 January 2026)

W McGonagle (appointed 30 January 2026)

T K Jardine (ceased 30 November 2025)

A W Bruce (ceased 30 January 2026)

Principal activity

The principal activity of the company continued to be the provision of design and consultancy services to the sound industry and the sale and hire of sound equipment.

Dividends

Dividends amounting to £Nil (2025 - £2,000,000) were paid in the year.

Disclosure of information in the Strategic Report

The company has chosen in accordance with s.414C(11) Companies Act 2006 to set out in the company's strategic report information required by Schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 to be contained in the directors' report. It has done so in respect of future developments and financial risk management and exposure.

Disclosure of information to the auditor

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Approved by the Board on 27 July 2026 and signed on its behalf by:

.........................................
S Arnold
Director

Autograph Sound Recording Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual 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). 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;

• | state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• | 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.

Autograph Sound Recording Limited

Independent Auditor's Report to the Members of Autograph Sound Recording Limited
for the Year Ended 31 January 2026

Opinion

We have audited the financial statements of Autograph Sound Recording Limited (the 'company') for the year ended 31 January 2026, which comprise the Statement of Income and Retained Earnings, Statement of Financial Position, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• | give a true and fair view of the state of the company's affairs as at 31 January 2026 and of its profit for the year then ended;
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
• | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Autograph Sound Recording Limited

Independent Auditor's Report to the Members of Autograph Sound Recording Limited
for the Year Ended 31 January 2026

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• | the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• | the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
• | the financial statements are not in agreement with the accounting records and returns; or
• | certain disclosures of directors' remuneration specified by law are not made; or
• | we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities (set out on page 6), the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Autograph Sound Recording Limited

Independent Auditor's Report to the Members of Autograph Sound Recording Limited
for the Year Ended 31 January 2026

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the company and the industry in which it operates, we determined that the principal risks of non-compliance with laws and regulations related to the reporting framework (FRS 102 and the Companies Act 2006) and UK corporate taxation laws, health and safety legislation, anti-bribery legislation and data protection legislation. These risks were communicated to our audit team and we remained alert to any indications of non-compliance throughout our audit.
We understood how the company is complying with relevant legislation by making enquiries of management. We also considered the results of our audit procedures and to what extent these corroborate this understanding and assessed the susceptibility of the company’s financial statements to material misstatement. This included consideration of how fraud might occur and evaluation of management’s incentives and opportunities for fraudulent manipulation of the financial statements.
We designed our audit procedures to identify any non-compliance with laws and regulations. Such procedures included, but were not limited to, inspection and understanding of legal costs; challenging assumptions and judgements made by management; identifying and testing journal entries with a focus on large or unusual transactions as determined based on our understanding of the business; and identifying and assessing the effectiveness of controls in place to prevent and detect fraud.
Owing to the inherent limitations of an audit, there remains a risk that a material misstatement may not have been detected, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance with laws and regulations and cannot be expected to detect all instances of non-compliance.

The primary responsibility for the detection and prevention of fraud rests with those responsible for governance and management. The further removed non-compliance with laws and regulations is from the events reflected in the financial statements, the less likely the auditor will become aware of it.
The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment, collusion, omission, misrepresentation or forgery.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Autograph Sound Recording Limited

Independent Auditor's Report to the Members of Autograph Sound Recording Limited
for the Year Ended 31 January 2026

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s 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 the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
Helen Evans (Senior Statutory Auditor)
For and on behalf of
Brebners, Statutory Auditor
130 Shaftesbury Avenue
London
W1D 5AR

28 July 2026

Autograph Sound Recording Limited

Statement of Income and Retained Earnings for the Year Ended 31 January 2026

| Note | 2026 £ | 2025 £
Turnover | 3 | 17,720,158 | 15,492,214
Cost of sales |  | (9,908,363) | (7,860,722)
Gross profit |  | 7,811,795 | 7,631,492
Administrative expenses |  | (6,437,194) | (5,517,961)
Operating profit | 4 | 1,374,601 | 2,113,531
Other interest receivable and similar income |  | 20,118 | 12,200
Interest payable and similar charges | 5 | (24,223) | (41,868)
|  | (4,105) | (29,668)
Profit before tax |  | 1,370,496 | 2,083,863
Taxation | 9 | (220,354) | (313,524)
Profit for the financial year |  | 1,150,142 | 1,770,339
Retained earnings brought forward as previously stated |  | 10,858,659 | 11,088,320
Dividends paid |  | - | (2,000,000)
Retained earnings carried forward |  | 12,008,801 | 10,858,659

Autograph Sound Recording Limited

Statement of Financial Position as at 31 January 2026

| Note | 2026 £ | 2025 £
Fixed assets |  |  |
Tangible assets | 10 | 16,365,788 | 14,710,721
Current assets |  |  |
Stocks | 12 | 889,004 | 1,239,037
Debtors | 13 | 2,460,604 | 1,558,285
Cash at bank and in hand |  | 1,685,494 | 1,974,663
|  | 5,035,102 | 4,771,985
Creditors: Amounts falling due within one year | 15 | (7,058,402) | (7,346,802)
Net current liabilities |  | (2,023,300) | (2,574,817)
Total assets less current liabilities |  | 14,342,488 | 12,135,904
Creditors: Amounts falling due after more than one year | 15 | (988,363) | (96,230)
Provisions for liabilities | 16 | (1,205,324) | (1,041,015)
Net assets |  | 12,148,801 | 10,998,659
Capital and reserves |  |  |
Called up share capital |  | 140,000 | 140,000
Retained earnings |  | 12,008,801 | 10,858,659
Shareholders' funds |  | 12,148,801 | 10,998,659

Approved and authorised by the Board on 27 July 2026 and signed on its behalf by:

.........................................

S Arnold

Director

Company registration number: 01103988

Autograph Sound Recording Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The principal place of business is:
Unit 29-30 Segro Park
Horsenden Lane South
Perivale
UB6 7RJ

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of the provision of design and consultancy services to the sound industry and the sale and hire of equipment.

2 | Accounting policies

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

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.

Summary of disclosure exemptions

The company satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following reduced disclosures available under FRS 102:
a) No cash flow statement has been presented.
b) Disclosures in respect of financial instruments have not been presented.
c) Disclosures in respect of key management personnel compensation in total have not been presented.

Autograph Sound Recording Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

Going concern

The company made a profit of £1,150,142 for the year ended 31 January 2026, and had net assets at that date of £12,148,801, including cash at bank of £1,685,494.
The group of which the company is a member have navigated through the hardest years in the group's history due to the COVID-19 pandemic, the last four years have seen a strong recovery and return to profitability. The latest unaudited management accounts show that the group has continuing profitability subsequent to the year end. The cashflow position for the year ahead demonstrates that the group has sufficient working capital for a period exceeding 12 months from the approval of the financial statements.
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events, that are believed to be reasonable under the circumstances.
Other than those involving estimations there are no judgements that management has made in the process of applying the entity's accounting policies that have a significant effect on the amounts recognised in the financial statements.
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:.

・Depreciation and impairment of fixed assets
The company exercises judgement to determine the useful lives and residual values of audio equipment and these assets are depreciated down to their residual values over their estimated lives. The company also exercises judgement in its review for indicators of impairment and the impact upon the useful economic lives and residual values (see depreciation policy below). When assessing the above management consider their knowledge of the market place, all commercial factors and historical experience.

Autograph Sound Recording Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

Revenue recognition

The company generates turnover from the sale and hire of sound equipment, provision of design and consultancy services and royalties.
Turnover comprises the fair value of the consideration received or receivable for the sale and hire of sound equipment and provision of design and consultancy 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 from the sale of sound equipment, normally on delivery of the goods, when:
- The significant risks and rewards of ownership of the sound equipment have been transferred to the buyer;
- The amount of revenue can be reliably measured;
- It is probable that future economic benefits will flow to the entity.
The company recognises revenue from the hire of sound equipment and rendering of design and consultancy services in the period to which the services relate. Royalties are also recognised in the period to which they relate.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Autograph Sound Recording Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 12.5% to 33.3% on cost
Fixtures and fittings | 15% to 50% on cost
Motor vehicles | 25% on cost
Audio equipment | 8.33% to 50% on cost
Leasehold property | over the remaining life of the lease

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Where there is a subsequent increase in expected useful life, the impairment provision is reversed to the extent that the assets are restated at the net book value they would have been stated at should the relevant impairment loss not have occurred. An impairment review is carried out and provision made accordingly even if events or changes in circumstances indicate that the carrying value, being measured by applying discount factor of 2.5% above base to relevant cash flows of fixed assets, may not be recoverable.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Profits or losses arising from disposals of fixed asset investments are treated as part of the result from ordinary activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the average cost method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Autograph Sound Recording Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Hire purchase contracts

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at cost. The asset is then depreciated over its useful life. Future payments are apportioned between finance costs in the income statement and reduction of the liability so as to achieve a constant periodic rate of interest on the remaining balance of the liability using the effective interest method.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

Autograph Sound Recording Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Recognition and measurement
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3 | Turnover

The analysis of the company's revenue for the year from continuing operations is as follows:

| 2026 £ | 2025 £
Sale of goods | 5,557,057 | 4,070,719
Rendering of services | 11,580,313 | 10,595,801
Royalties received | 355,219 | 375,245
Design and consultancy services | 227,569 | 450,449
| 17,720,158 | 15,492,214

The analysis of the company's turnover for the year by market is as follows:

| 2026 £ | 2025 £
UK | 16,207,353 | 14,233,507
Rest of world | 1,512,805 | 1,258,707
| 17,720,158 | 15,492,214

Autograph Sound Recording Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

4 | Operating profit

Arrived at after charging/(crediting)

| 2026 £ | 2025 £
Depreciation expense | 3,454,650 | 2,856,000
Foreign exchange gains | (5,306) | (12,259)
Loss on disposal of property, plant and equipment | 42,328 | 11,049
Impairment of trade debtors | 1,693 | 45,061
Other operating lease costs | 253,395 | 182,921
Profit on disposal of audio equipment | (188,907) | (426,851)

5 | Interest payable and similar expenses

| 2026 £ | 2025 £
Interest on obligations under hire purchase contracts | 24,088 | 33,019
Other interest payable | 135 | 8,849
| 24,223 | 41,868

6 | Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

| 2026 £ | 2025 £
Wages and salaries | 3,395,516 | 3,046,933
Social security costs | 447,511 | 362,329
Pension costs, defined contribution scheme | 97,889 | 100,712
Other employee expense | 94,465 | -
| 4,035,381 | 3,509,974

The average number of persons employed by the company during the year, analysed by category was as follows:

| 2026 No. | 2025 No.
Administration and support | 54 | 46
Management staff | 2 | 2
| 56 | 48

Autograph Sound Recording Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

7 | Directors' remuneration

The directors' remuneration for the year was as follows:

| 2026 £ | 2025 £
Remuneration | 729,218 | 674,205
Contributions paid to money purchase schemes | 19,999 | 26,974
Compensation for loss of office | 68,000 | -
| 817,217 | 701,179

During the year the number of directors who were receiving benefits and share incentives was as follows:

| 2026 No. | 2025 No.
Accruing benefits under money purchase pension scheme | 2 | 2

In respect of the highest paid director:

| 2026 £ | 2025 £
Remuneration | 577,732 | 341,447
Company contributions to money purchase pension schemes | 10,000 | 14,351
Compensation for loss of office | 68,000 | -
| 655,732 | 355,798

8 | Auditor's remuneration

| 2026 £ | 2025 £
Audit of the financial statements | 45,000 | 40,000

Autograph Sound Recording Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

9 | Taxation

Tax charged/(credited) in the income statement

| 2026 £ | 2025 £
Current taxation |  |
UK corporation tax | 199,044 | 94,453
Deferred taxation |  |
Arising from origination and reversal of timing differences | 21,310 | 219,071
Tax expense in the income statement | 220,354 | 313,524

The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2025 - lower than the standard rate of corporation tax in the UK) of 25% (2025 - 25%).
The differences are reconciled below:

| 2026 £ | 2025 £
Profit before tax | 1,370,496 | 2,083,863
Corporation tax at standard rate | 342,624 | 520,966
Effect of expense not deductible in determining taxable profit (tax loss) | 44,825 | 12,703
Impact of future tax rate changes on deferred tax | (83,403) | (49)
Tax decrease arising from group relief | (83,692) | (220,096)
Total tax charge | 220,354 | 313,524

Deferred tax

Deferred tax assets and liabilities

2026 | Liability £
Accelerated capital allowances | 1,141,201
Accrued liabilities | (78,877)
| 1,062,324

2025 | Liability £
Accelerated capital allowances | 1,154,473
Accrued liabilities | (113,458)
| 1,041,015

Autograph Sound Recording Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

10 | Tangible assets

| Plant & Machinery £ | Fixtures & Fitting £ | Motor vehicles £ | Audio Equipment £ | Leasehold Property £ | Total £
Cost or valuation
At 1 February 2025 | 578,179 | 1,120,885 | 176,452 | 42,122,028 | 8,579 | 44,006,123
Additions | 70,389 | 21,743 | 47,986 | 5,281,959 | - | 5,422,077
Disposals | (319,167) | (385,709) | (123,686) | (1,444,534) | - | (2,273,096)
Transfers | (76,240) | - | - | 76,240 | - | -
At 31 January 2026 | 253,161 | 756,919 | 100,752 | 46,035,693 | 8,579 | 47,155,104
Depreciation
At 1 February 2025 | 496,749 | 919,705 | 146,394 | 27,725,454 | 7,100 | 29,295,402
Charge for the year | 33,772 | 69,680 | 22,543 | 3,327,176 | 1,479 | 3,454,650
Eliminated on disposal | (309,164) | (371,684) | (83,303) | (1,196,585) | - | (1,960,736)
Transfers | (52,245) | - | - | 52,245 | - | -
At 31 January 2026 | 169,112 | 617,701 | 85,634 | 29,908,290 | 8,579 | 30,789,316
Carrying amount
At 31 January 2026 | 84,049 | 139,218 | 15,118 | 16,127,403 | - | 16,365,788
At 31 January 2025 | 81,430 | 201,180 | 30,058 | 14,396,574 | 1,479 | 14,710,721

Assets held under hire purchase contracts

The net carrying amount of tangible assets includes the following amounts in respect of assets held under hire purchase contracts:

| 2026 £ | 2025 £
Audio equipment | 929,495 | 417,566

Autograph Sound Recording Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

11 | Other financial assets

| Investments £ | Total £
Non-current financial assets
Cost or valuation
At 1 February 2025 | 5,000 | 5,000
Disposals | (5,000) | (5,000)
At 31 January 2026 | - | -
Impairment
At 1 February 2025 | 5,000 | 5,000
Adjustments resulting from a disposal | (5,000) | (5,000)
At 31 January 2026 | - | -
Carrying amount
At 31 January 2026 | - | -

12 | Stocks

| 2026 £ | 2025 £
Finished goods and goods for resale | 889,004 | 1,239,037

13 | Debtors

| Note | 2026 £ | 2025 £
Trade debtors |  | 544,476 | 955,021
Amounts owed by group undertakings | 23 | 1,351,608 | 313,804
Other debtors |  | 32,580 | 70,704
Prepayments |  | 531,940 | 218,756
Total current trade and other debtors |  | 2,460,604 | 1,558,285

14 | Cash and cash equivalents

| 2026 £ | 2025 £
Cash on hand | 1,685,494 | 1,974,663

Autograph Sound Recording Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

15 | Creditors

| Note | 2026 £ | 2025 £
Due within one year |  |  |
Loans and borrowings | 19 | 266,711 | 147,750
Trade creditors |  | 1,475,310 | 839,128
Social security and other taxes |  | 484,700 | 329,566
Other payables |  | 57,627 | 1,626
Accruals and deferred income |  | 4,600,031 | 5,934,279
Corporation tax liability | 9 | 174,023 | 94,453
|  | 7,058,402 | 7,346,802
Due after one year |  |  |
Loans and borrowings | 19 | 768,222 | 6,293
Other financial liabilities |  | 220,141 | 89,937
|  | 988,363 | 96,230

Accruals and deferred income due within one year includes £1,098,601 (2025 - £2,391,629) of pre-paid hire income attributable to the next twelve months, which is not refundable.

16 | Provisions for liabilities

| Deferred tax £ | Dilapidation provision £ | Total £
At 1 February 2025 | 1,041,015 | - | 1,041,015
Additional provisions | 21,309 | 143,000 | 164,309
At 31 January 2026 | 1,062,324 | 143,000 | 1,205,324

17 | Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £97,889 (2025 - £100,712).

18 | Share capital

Allotted, called up and fully paid shares

| 2026 | 2025
| No. | £ | No. | £
Ordinary shares of £1 each | 140,000 | 140,000 | 140,000 | 140,000

Autograph Sound Recording Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

19 | Loans and borrowings

| 2026 £ | 2025 £
Current loans and borrowings
Hire purchase liabilities | 266,711 | 147,750

| 2026 £ | 2025 £
Non-current loans and borrowings
Hire purchase liabilities | 768,222 | 6,293

20 | Obligations under leases and hire purchase contracts

Hire purchase contracts

Obligations under hire purchase contracts are as follows:

| 2026 £ | 2025 £
Not later than one year | 266,712 | 147,750
Later than one year and not later than five years | 768,222 | 6,293
| 1,034,934 | 154,043

Net obligations under hire purchase contracts are secured on the assets concerned.

Operating leases

The total of future minimum lease payments is as follows:

| 2026 £ | 2025 £
Not later than one year | 432,699 | 187,108
Later than one year and not later than five years | 3,398,000 | 114,136
Later than five years | 4,247,500 | -
| 8,078,199 | 301,244

The amount of non-cancellable operating lease payments recognised as an expense during the year was £257,354 (2025 - £186,880).

Operating leases are in respect of rental commitments.

Autograph Sound Recording Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

21 | Financial commitments, guarantees, and contingencies

Capital commitments

The total amount contracted for but not provided in the financial statements was £235,357 (2025 - £Nil).

Guarantees

The company has provided a guarantee in respect of banking facilities made available to its ultimate parent undertaking. The maximum liability under the guarantee is £1,000,000. This guarantee is supported by a fixed and floating charge over the assets and undertakings of that company.

22 | Transactions with directors

At 31 January 2026 an amount of £Nil (2025 - £1,250) was due from directors. Advances of £3,490 and repayments of £4,740 were made during the year. Interest has not been charged in the year and there are no set repayment terms.
During the year, property rent amounting to £360,000 (2025 - £360,000) was paid to a director, under a tenancy at will.

23 | Related party transactions

In accordance with FRS 102 paragraph 33.1A, exemption is taken not to disclose transactions in the year between wholly owned group undertakings.

24 | Parent and ultimate parent undertaking

The company's immediate parent is Autograph (Holdings) Limited, incorporated in England and Wales.
The ultimate parent is Sound of Spring Limited, incorporated in England and Wales.
The parent of the largest and smallest group in which these financial statements are consolidated is Sound of Spring Limited, incorporated in England and Wales.
These financial statements are available upon request from Kings House 9-10 Haymarket, London, SW1Y 4BP.