ACCOUNTS - Final Accounts

ACCOUNTS - Final Accounts

EMPIRE ARTIST MUSIC LIMITED - Company Information

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Caseware UK (AP4) 2020.0.247 2020.0.247 2020-12-312020-12-31222020-01-01falsetruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05598197 2020-01-01 2020-12-31 05598197 2019-01-01 2019-12-31 05598197 2020-12-31 05598197 2019-12-31 05598197 c:Director1 2020-01-01 2020-12-31 05598197 d:CurrentFinancialInstruments 2020-12-31 05598197 d:CurrentFinancialInstruments 2019-12-31 05598197 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 05598197 d:CurrentFinancialInstruments d:WithinOneYear 2019-12-31 05598197 d:ShareCapital 2020-12-31 05598197 d:ShareCapital 2019-12-31 05598197 d:RetainedEarningsAccumulatedLosses 2020-12-31 05598197 d:RetainedEarningsAccumulatedLosses 2019-12-31 05598197 c:OrdinaryShareClass1 2020-01-01 2020-12-31 05598197 c:OrdinaryShareClass1 2020-12-31 05598197 c:OrdinaryShareClass1 2019-12-31 05598197 c:FRS102 2020-01-01 2020-12-31 05598197 c:AuditExempt-NoAccountantsReport 2020-01-01 2020-12-31 05598197 c:FullAccounts 2020-01-01 2020-12-31 05598197 c:PrivateLimitedCompanyLtd 2020-01-01 2020-12-31 05598197 d:ShareCapitalOtherShareTypes 2020-12-31 05598197 d:ShareCapitalOtherShareTypes 2019-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 05598197














EMPIRE ARTIST MUSIC LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020
 
EMPIRE ARTIST MUSIC LIMITED
REGISTERED NUMBER:05598197

BALANCE SHEET
AS AT 31 DECEMBER 2020

2020
2019
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
49,197
53,224

Cash at bank and in hand
 5 
589
549

  
49,786
53,773

Creditors: amounts falling due within one year
 6 
(59,497)
(63,040)

Net current liabilities
  
 
 
(9,711)
 
 
(9,267)

Total assets less current liabilities
  
(9,711)
(9,267)

  

Net liabilities
  
(9,711)
(9,267)


Capital and reserves
  

Called up share capital 
 7 
2
2

Profit and loss account
  
(9,713)
(9,269)

  
(9,711)
(9,267)


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

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

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




N Easterby
Director

Date: 21 December 2021

The notes on pages 2 to 3 form part of these financial statements.

1
 
EMPIRE ARTIST MUSIC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

1.


General information

Empire Artist Music Limited is a private company, limited by shares, registered in England and Wales, registration number 05598197. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
The principal activity of the company continued to be that of music publishing.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Going concern

The directors are assessing, on a daily basis, the impact of the significant uncertainty arising from the COVID-19 virus. Whilst the directors appreciate there is significant uncertainty surrounding the future economic climate and is expecting a slowdown, at the period end and as at the date of signature of the financial statements, the company’s activities remain positive with limited ongoing exposure. The directors are satisfied that the company will be able to satisfy its financial obligations for at least 12 months from the date of signature of the financial statements, which have been prepared on the going concern basis.

  
2.3

Functional and presentational currency

The company's functional and presentational currency is pound sterling.

 
2.4

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.5

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.6

Creditors

Short term creditors are measured at the transaction price.

 
2.7

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and loans with related parties.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2019 - 2).

2
 
EMPIRE ARTIST MUSIC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

4.


Debtors

2020
2019
£
£


Other debtors
49,197
53,224



5.


Cash

2020
2019
£
£

Cash at bank and in hand
589
549



6.


Creditors: amounts falling due within one year

2020
2019
£
£

Trade creditors
49,197
53,143

Other creditors
9,000
6,347

Accruals
1,300
3,550

59,497
63,040



7.


Share capital

2020
2019
£
£
Allotted, called up and fully paid



2 (2019 - 2) Ordinary shares of £1.00 each
2
2



8.


Transactions with directors

During the year, a director paid expenses of £2,653 (2019 - £493) on behalf of the company. As at the year end, the company owed £9,000 (2019 - £6,347) to a director. The loan is interest free, unsecured and repayable on demand.

 
3