Newquay Music Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 01545678

		2025		2024
	Notes	£	£	£	£
CURRENT ASSETS
Debtors	5	13,010		15,170
Cash at bank and in hand		115,718		107,533

		128,728		122,703
Creditors: Amounts Falling Due Within One Year	6	(67,601 )		(66,858 )

NET CURRENT ASSETS (LIABILITIES)			61,127		55,845

TOTAL ASSETS LESS CURRENT LIABILITIES			61,127		55,845

Creditors: Amounts Falling Due After More Than One Year	7		(71,582 )		(71,582 )

NET LIABILITIES			(10,455 )		(15,737 )

CAPITAL AND RESERVES
Called up share capital	8		100		100
Profit and Loss Account			(10,555 )		(15,837 )

SHAREHOLDERS' FUNDS			(10,455)		(15,737)

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Newquay Music Limited

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 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 directors acknowledge their 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

The financial statements were approved by the board of directors on 17 November 2025 and were signed on its behalf by:

Mr S H Platz

Director

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Newquay Music Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01545678 . The registered office is Roundhouse, 212 Regent's Park Road, London, NW1 8AW.

The company's principal activity continues to be that ofmusic publishers and record producers.

2. Statement of Compliance

The financial statements have been prepared in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. Accounting Policies

3.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention.

3.2. Going Concern Disclosure

The company is dependent upon the continuing availability of the loans from the shareholders. Although there is no fixed date for repayment, the directors are confident that the loans will continue to be available and have accordingly classified them as falling due after more than one year. Additionally, the directors have not drawn other amounts due to them. In these circumstances, they have applied the going concern basis in drawing up the financial statements.

3.3. Turnover

Turnover is recognised at fair value of the consideration received or receivable. Furthermore, revenue is recognised when it is probable that economic benefits will flow to the company and the amount of the revenue can be reliably measured.

Royalty income

Royalty income is recognised on a notified earnings basis. Credit is taken for royalty income, arising from the music publishing, record production and related activities, which has been received or declared by users by the period end. Amounts received in advance are carried forward in creditors until notified as earnings by the licensee.

Record sales

Sales of recorded music on physical media is recognised when delivered. Revenue is reduced for returns and discounts given.

3.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

3.5. Financial Instruments

Basic financial instruments, whether financial assets or financial liabilities, are recognised at amortised cost using the effective interest method.

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Newquay Music Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

3.6. Interest Receivable

Interest income is recognised using the effective interest method.

3.7. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

3.8. Taxation

Taxation comprises current taxation and deferred tax.

Current tax represents the amount of tax payable in respect of taxable profit for the current or past financial years. The company’s liability to current tax is measured using tax rates that have been enacted by the balance sheet date.

Deferred tax represents future tax consequences of transactions recognised in the current or past financial years. Deferred tax is recognised in respect of all timing differences except that deferred tax assets are only recognised to the extent that it is probable that they will be recoverable 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 by the balance sheet date that are expected to apply to the reversal of timing differences.

3.9. Royalties payable

Royalties payable are charged to the profit and loss account to the extent that amounts are contractually paid or are payable in respect of the year under review. If any royalties payable are considered to be recoverable from future income, these are carried forward in debtors.

4. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2024: )

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	12,588	15,036
Other debtors	422	134

	13,010	15,170

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Newquay Music Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	64,880	64,282
Other creditors	2,300	2,175
Taxation and social security	421	401

	67,601	66,858

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Other loans	71,582	71,582

There is no interest payable on the unsecured loans and there is no fixed date for repayment. The directors have classified the loans as amounts falling due after more than one year as they do not anticipate any call for repayment in the foreseeable future.

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

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