Rhapsody Global Holdings Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08703086

Rhapsody Global Holdings Limited

Filleted Financial Statements

Previously known as Rhapsody Group Limited

31 December 2025

Rhapsody Global Holdings Limited

Statement of Financial Position

31 December 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Investments	4		2,113,650		4,089,484

Current assets

Debtors	5	1,140,201		579,611

Creditors: amounts falling due within one year	6	2,374,794		4,715,782
		------------		------------
Net current liabilities			1,234,593		4,136,171
			------------		------------
Total assets less current liabilities			879,057		( 46,687)
			---------		--------
Net assets/(liabilities)			879,057		( 46,687)
			---------		--------

Capital and reserves

Called up share capital	7	1	1
Profit and loss account		879,056	( 46,688)
		---------	--------
Shareholders funds/(deficit)		879,057	( 46,687)
		---------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

The directors acknowledge their 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 were approved by the board of directors and authorised for issue on 22 September 2026 , and are signed on behalf of the board by:

Mr A Hinton

Director

Company registration number: 08703086

Rhapsody Global Holdings Limited

Notes to the Financial Statements

year ended 31 December 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Office 201, The Frames, 1 Phipp Street, London, EC2A 4PS, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover represents the amount derived from management fees which fall within the company's ordinary activities stated net of value added tax. Income is recognised as the fair value of the consideration received or receivable for the sale of the services.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. 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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

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. For all equity instruments regardless of significance, and other financial assets that are individually significant, these 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.

4. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2025	4,089,484
Additions	7,129
	------------
At 31 December 2025	4,096,613
	------------
Impairment
At 1 January 2025	–
Impairment losses	1,982,963
	------------
At 31 December 2025	1,982,963
	------------

Carrying amount
At 31 December 2025	2,113,650
	------------
At 31 December 2024	4,089,484
	------------

Subsidiaries, associates and other investments

	Registered office	Class of share	Percentage of shares held
Subsidiary undertakings
Rhapsody Limited	1 Office 201	Ordinary	100
	The Frames
	1 Phipp Street
	London
	United Kingdom
	EC2A 4PS
Rhapsody CE Sp. z.o.o.	AL. Armii Ludowej 14	Ordinary	100
	Warsaw
	Poland
	00-638
Rhapsody Media Inc	5105 DTC Parkway	Ordinary	100
	Ste 312
	Greenwood Village
	Colorado
	USA
	80111
Rhapsody Media LLC	5105 DTC Parkway	Ordinary	100
	Ste 312
	Greenwood Village
	Colorado
	USA
	80111

5. Debtors

	2025	2024
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	1,102,694	576,996
Other debtors	37,507	2,615
	------------	---------
	1,140,201	579,611
	------------	---------

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Amounts owed to group undertakings	2,362,171	4,711,309
Accruals and deferred income	3,500	–
Corporation tax	9,123	4,473
	------------	------------
	2,374,794	4,715,782
	------------	------------

7. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
	----	----	----	----

8. Events after the end of the reporting period

On 18 February 2026, the Company and its subsidiaries were acquired by Ansiram Management Group Ltd. As part of the post-acquisition restructuring, intercompany loan balances of £2.9 million owed to Walstead Group Limited were formally waived. As the conditions giving rise to the loan waiver existed at the reporting date and the waiver was agreed before the financial statements were authorised for issue, the transaction has been reflected in these financial statements as an adjusting event after the reporting period. As a result, £2.9 million of other income has been recognised in the year.

9. Summary audit opinion

The auditor's report dated 22 September 2026 was unqualified .

The senior statutory auditor was Thomas York , for and on behalf of Edmund Carr LLP .

10. Related party transactions

The company has taken advantage of the exemption in Section 33.1A in FRS 102 from the requirement to disclose transactions entered into between wholly owned members of the group.

11. Controlling party

At 31 December 2025 the company's immediate parent company was Walstead Group Limited for which consolidated financial statements are drawn up and these are available on Companies House. The ultimate controlling party was Rutland Partners LLP.