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Company Registration No. 05690644 (England and Wales)
Sunlightsquare Records Ltd Amended Unaudited accounts for the year ended 31 January 2026
Sunlightsquare Records Ltd Amended Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Sunlightsquare Records Ltd Company Information for the year ended 31 January 2026
Director
Claudio Passavanti
Company Number
05690644 (England and Wales)
Registered Office
5 Bayford Square London E1 0SG United Kingdom
Accountants
Accounts and Legal Consultants Ltd Suite 1-3, The Hop Exchange 24 Southwark Street London SE1 1TY
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Sunlightsquare Records Ltd Statement of financial position as at 31 January 2026
2026
2025
Notes
£
£
Fixed assets
Tangible assets
4
345,642
416,499
Current assets
Debtors
5
6,964
9,800
Investments
6
37,209
33,985
Cash at bank and in hand
27
344
44,200
44,129
Creditors: amounts falling due within one year
7
(76,014)
(70,745)
Net current liabilities
(31,814)
(26,616)
Total assets less current liabilities
313,828
389,883
Creditors: amounts falling due after more than one year
8
(293,350)
(282,712)
Net assets
20,478
107,171
Capital and reserves
Called up share capital
1
1
Profit and loss account
20,477
107,170
Shareholders' funds
20,478
107,171
For the year ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 17 August 2026 and were signed on its behalf by
Claudio Passavanti Director Company Registration No. 05690644
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Sunlightsquare Records Ltd Notes to the Accounts for the year ended 31 January 2026
1
Statutory information
Sunlightsquare Records Ltd is a private company, limited by shares, registered in England and Wales, registration number 05690644. The registered office is 5 Bayford Square, London, E1 0SG, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Principal activity
The principal activity of the company during the year was that of sound recording, music publishing and the provision of support services to performing arts businesses and artists. There has been no material change in this activity during the year.
Basis of preparation
The financial statements have been prepared in accordance with FRS 102 Section 1A Small Entities and under the historical cost convention, modified to include land and buildings at revalued amounts and certain investments at fair value.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.
Presentation currency
The accounts are presented in £ sterling.
Revenue recognition
Revenue is measured at the fair value of consideration received or receivable, net of VAT and trade discounts. Service income is recognised as services are provided. Royalty income is recognised in the period to which it relates when the amount can be measured reliably and receipt is probable.
Foreign currency
Transactions in foreign currencies are translated at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities are translated at year-end rates. Exchange differences are recognised in profit or loss.
Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Borrowing costs
Borrowing costs are recognised as an expense in the period incurred.
Employee benefits
Short-term employee benefits, including holiday pay, are recognised as expenses as services are rendered. Contributions to defined contribution pension schemes are charged to profit or loss when due.
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Sunlightsquare Records Ltd Notes to the Accounts for the year ended 31 January 2026
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the company in independently administered funds.
Tangible fixed assets and depreciation
Land and buildings are stated at revalued amount, being fair value at the date of revaluation less any subsequent accumulated depreciation and impairment losses. Revaluations are undertaken with sufficient regularity to ensure that the carrying amount does not differ materially from fair value at the reporting date. Other tangible assets are included at cost less accumulated depreciation and impairment losses. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Not depreciated
Plant & machinery
20% reducing balance
Computer equipment
33.33% reducing balance
Investments
Cryptoassets are recognised at cost on acquisition and are included within current asset investments. At each reporting date, cryptoasset investments are measured at fair value with changes in fair value recognised in profit or loss. Fair value is determined by reference to quoted market prices at the reporting date. Transaction costs directly attributable to the acquisition of cryptoassets are included in the initial carrying value of the asset.
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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Sunlightsquare Records Ltd Notes to the Accounts for the year ended 31 January 2026
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Current taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. 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.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Computer equipment
Total
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At 1 February 2025
406,863
9,656
73,856
490,375
Additions
-
759
-
759
Revaluations
(69,500)
-
-
(69,500)
At 31 January 2026
337,363
10,415
73,856
421,634
Depreciation
At 1 February 2025
-
5,536
68,340
73,876
Charge for the year
-
893
1,223
2,116
At 31 January 2026
-
6,429
69,563
75,992
Net book value
At 31 January 2026
337,363
3,986
4,293
345,642
At 31 January 2025
406,863
4,120
5,516
416,499
The company's land and buildings were revalued as at 31 January 2026 to £337,363 based on a valuation undertaken by an independent valuer. The resulting revaluation decrease of £69,500 has been recognised in profit or loss as there was no existing revaluation surplus in respect of the property.
5
Debtors
2026
2025
£
£
Amounts falling due within one year
Trade debtors
6,964
9,800
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Sunlightsquare Records Ltd Notes to the Accounts for the year ended 31 January 2026
6
Investments held as current assets
2026
2025
£
£
Listed investments
37,209
33,985
Current asset investments comprise holdings of cryptocurrency. The fair value of these investments has been determined using quoted market prices from recognised cryptocurrency exchanges at the reporting date. Changes in fair value during the year have been recognised within profit or loss.
7
Creditors: amounts falling due within one year
2026
2025
£
£
Bank loans and overdrafts
45,066
24,381
VAT
494
1,187
Trade creditors
4,342
1,317
Taxes and social security
15,650
6,750
Other creditors
6,275
7,155
Loans from directors
-
8,540
Accruals
4,187
21,415
76,014
70,745
8
Creditors: amounts falling due after more than one year
2026
2025
£
£
Bank loans
220,894
200,605
Amounts owed to group undertakings and other participating interests
72,456
82,107
293,350
282,712
The company's bank borrowings are secured by fixed and floating charges over the assets and undertaking of the company, including security over the company's property.
9
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. Contributions totalling £248 (2025: £236) were payable to the fund at the reporting date and are included in creditors.
10
Transactions with related parties
During the year the company entered into related party transactions with Doctor Mix Ltd, a company in which a director of the company is also a director. At the balance sheet date, an amount of £72,456 (2025: £82,107) was owed to Doctor Mix Ltd. The balance is unsecured, interest free and repayable on demand.
11
Average number of employees
During the year the average number of employees was 1 (2025: 1).
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