Lusam Music Limited
Unaudited Financial Statements
For the year ended 31 March 2026
Pages for Filing with Registrar
Company Registration No. 03918219 (England and Wales)
Lusam Music Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 3
Lusam Music Limited
Balance Sheet
As at 31 March 2026
Page 1
2026
2025
Notes
£
£
£
£
Current assets
Cash at bank and in hand
163,567
183,022
Creditors: amounts falling due within one year
2
(11,927)
(57,132)
Net current assets
151,640
125,890
Capital and reserves
Called up share capital
3
2
2
Profit and loss reserves
151,638
125,888
Total equity
151,640
125,890

For the financial year ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 30 July 2026
P A Smith
Director
Company Registration No. 03918219
Lusam Music Limited
Notes to the Financial Statements
For the year ended 31 March 2026
Page 2
1
Accounting policies
Company information

Lusam Music Limited is a private company limited by shares incorporated in England and Wales. The registered office is Woodhill Manor, Woodhill Lane, Shamley Green, Guildford, Surrey, United Kingdom, GU5 0SP.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.true

1.3
Turnover
Turnover represents the royalties due on music rights owned by the company in the period.

Fee income represents revenue earned under the exploitation of music rights. Revenue is recognised on receipt of royalty statements. Where possible income is accrued in respect of royalty statements received post year end relating to income earned in the year. This is the earliest opportunity by which the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.

1.4
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The c ompany only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

Lusam Music Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2026
1
Accounting policies
(Continued)
Page 3
1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Creditors: amounts falling due within one year
2026
2025
£
£
Corporation tax
7,932
22,263
Other taxation and social security
1,210
7,217
Accruals and deferred income
2,785
27,652
11,927
57,132
3
Called up share capital
2026
2025
2026
2025
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
4
Related party transactions

During the year the company made purchases of £30,000 (2025: £25,000) from Celador International Limited, a related party by virtue of common directorship. At the balance sheet date there was an amount of £nil (2025: £25,000) owed to Celador International Limited.

5
Parent company

The ultimate controlling party is P A Smith by virtue of his shareholding in Lusam Music Limited.

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