Artiste Music Group Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 11987257 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 OCTOBER 2021

FOR

ARTISTE MUSIC GROUP LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

CURRENT ASSETS

Debtors

5

74,437

Cash at bank

3,801

78,238

CREDITORS

Amounts falling due within one year

6

14,436

NET CURRENT ASSETS

63,802

TOTAL ASSETS LESS CURRENT
LIABILITIES

63,802

CREDITORS

Amounts falling due after more than one
year

7

41,708

NET ASSETS

22,094

CAPITAL AND RESERVES

Called up share capital

8

100

Retained earnings

21,994

SHAREHOLDERS' FUNDS

22,094

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 July 2022 and were signed by:

Mr J P Millins - Director

1.	STATUTORY INFORMATION

Artiste Music Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

11987257

Registered office:

Croydon Hall

Felons Oak

Rodhuish

Minehead

Somerset

TA24 6QT

2.	STATEMENT OF COMPLIANCE

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

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The principal activity of the company was considered to be dormant as no significant transactions took place in the year.

The company was dormant throughout the year ended 31 October 2021. However, reference to information relating to the period ended 31 October 2020 has been made where appropriate.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Going concern

The company has prepared these accounts on a going concern basis, however there are material uncertainties in respect of COVID-19 and management have taken into consideration the existing and potential effects of coronavirus on the activities of the business in future.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Trade debtors

187

Amounts owed by group undertakings

74,027

VAT

223

74,437

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Bank loans and overdrafts

8,292

Trade creditors

802

Amounts owed to group undertakings

5,319

Directors' current accounts

23

14,436

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2021

2020

£

Bank loans - 2-5 years

41,708

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

100

Ordinary

£1

100

9.	RELATED PARTY DISCLOSURES

Included in other debtors is a loan balance of £74,027 (2020: £74,027) due from Artiste Group Limited, the parent company. The amount is interest free and repayable on demand.

Included in other creditors is a loan balance of £3,468 (2020: £3,468) due to Pure Management Limited, a member of the group. The amount is interest free and repayable on demand.

Included in other creditors is a loan balance of £1,851 (2020: £1,851) due to Artiste Records Limited, a member of the group. The amount is interest free and repayable on demand.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Artiste Group Limited.

11.	PARENT COMPANY

The company is a wholly owned subsidiary of Artiste Group Limited whose address is Croydon Hall, Felons Oak, Rodhuish, Minehead, Somerset TA24 6Q.

Artiste Music Group Limited - Accounts to registrar (filleted) - small 18.2

Artiste Music Group Limited - Accounts to registrar (filleted) - small 18.2