OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-03-31-accounts

Islington Music Workshop Ltd

Charity No. 295214

Company No. 01762763

Trustees' Report and Unaudited Accounts

31 March 2025

Islington Music Workshop Ltd Contents

Pages
Trustees' Annual Report 2 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Summary Income and Expenditure Account 8
Balance Sheet 9
Notes to the Accounts 10 to 18
Detailed Statement of Financial Activities 19 to 20

Page 1

Islington Music Workshop Ltd Trustees Annual Report

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 March 2025.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. 01762763

Charity No. 295214

Registered Office

24 Seward Street London EC1V 3PA

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

J. Bahula (Resigned 15 April 2024) S.B. Catto E. Donkor W. Sullivan M.E. Zinovieff

Company Secretary

S.B. Catto

Accountants

Quantic Accountancy Limited 1 Second Avenue Bluebridge Halstead Essex CO9 2SU

OBJECTIVES AND ACTIVITIES

Islington Music Workshop Limited is a company limited by guarantee governed by its Memorandum and Articles of Association dated 19th October 1983 and amended to allow for current governance arrangement on 4th September 1986. It is registered as a charity with the Charity Commission. Anyone over the age of 18 can apply to become a member of the Company by application to the board and there are currently 6 members, each of whom agrees to contribute £1 in the event of the charity winding up.

The objects of the charity are: To undertake, explore develop and promote the creative, artistic, social and educational use of multi- cultural music for the benefit of all persons especially the socially and physically disadvantaged, residing or employed in the Islington area.

Page 2

Islington Music Workshop Ltd Trustees Annual Report

ACHIEVEMENTS AND PERFORMANCE

IMW operates an open access system for recruitment to our course programme that includes Assisted Training Places for Islington residents who are registered disabled. The curriculum takes account of the demands of the industry and the principles of equal access for all. We continue to encourage female applicants and balance the requirements of the programme with a marketing programme to raise the level of technical education/interest among young women. We continue to run a scheme of internship for successful female graduates to provide limited but important support between qualification and employment.

The programme for the year represented a success on the path of recovery from the impact of the Covid pandemic. We continued our Level 2 Diploma, HND programmes with City of Westminster College and Degree programme with the University of East London.

We continued to function six days per week from 8am-11pm for 48 weeks of the year with students enrolled on our outreach Free Taster sessions, FE L2 and HE L4,5 and a one-off L6 programme. Our annual nation-wide survey of studios generates extremely positive responses to our training programme. We receive a high level of interest in recruiting our graduates for employment in the industry. Our graduates go on to complete their degrees at Universities of their choice, manage studio facilities, teach, engineer and assist in major studios in the UK and USA. Alumni have gone on to win Grammies and Oscars co- writing and producing highly successful albums, film theme music and set up their own very hi-spec studios. Others have set up a very successful production studio hire businesses, become a music production educational consultant and university research consultant.

The successful development of future contracts during a very challenging time reflected the dedication and commitment of IMW staff. Dealing with the requirements of a constantly changing funding regime and course specifications is extremely time consuming and challenging and it is a testament to staff creativity and professional integrity that this was advanced.

FINANCIAL REVIEW

During 24-25 the trustees carried out a review of the charity’s activities and the strategic plan. Our resilience and staff re-structure this year has demonstrated the value of this review and of the practice of monitoring progress against the strategic plan. Our recovery plan for the next academic year is based on strong financial management and a robust strategic plan.

PLANS FOR FUTURE PERIODS

At the end of a very challenging year, IMW is well placed to pursue sustained recovery, restructuring and capacity building when possible and progressing contracts with City of Westminster College and the University of East London.

PUBLIC BENEFIT

The trustees have taken due notice of the recent guidance issued by the Charity Commission concerning public benefit. The nature of our educational programmes means that the benefits enjoyed by participants are both tangible and easily identifiable, and are clearly in line with our stated aims of the promotion of the creative, artistic and educational use of multi cultural music. IMW’s training programmes are are intended for all those who will benefit most and particularly those socially and physically disadvantaged in the Islington area.

Page 3

Islington Music Workshop Ltd Trustees Annual Report

INVESTMENT POWERS AND POLICY

Under the Memorandum and Articles of Association, the charity has the power to invest in any way the board wishes. The board, having regard to the liquidity requirements of operating a training organization in the community and to the reserves policy, have operated a policy of keeping available funds in an interest-bearing deposit account and seeks to achieve a rate of deposit interest which exceeds inflation as measured by the retail prices index.

RESERVE POLICY

The board has established the level of reserves (that is those funds that are freely available) that the charity ought to have. Reserves are needed to bridge the funding gaps between spending on the course programme and receiving funds through charges and contract fees that provide funding. In addition, IMW reserves strategy includes the following provisions: winding up the affairs of the organisation including outstanding creditors, salaries and redundancy costs in the sum of £100,000 and an equipment replacement fund of £100,000. The balance of reserves is represented by a resilience and recovery fund and normal working capital balances. The major risks to which the charity is exposed, as identified by the board, have been reviewed and systems have been established to mitigate those risks.

ORGANISATION

The board of management, which can have up to nine members, administers the charity. The board meets quarterly and there are sub-committees covering development, finance and audit which meets as required. A Director is appointed to manage the day-to-day operations of the charity. To facilitate effective operations, the Director has delegated authority, approved by the board, for operational matters including financial, employment and programme related activity.

TRUSTEE INDUCTION AND TRAINING

New trustees undergo an orientation day to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan and recent financial performance of the charity. During the induction day they meet key employees and other trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their Appointment of trustees.

All members are circulated with invitations to nominate members of the board prior to the AGM advising them of the retiring board members and requesting nominations for the AGM. When considering co-opting trustees, the Board has regard to the requirement for any specialist skills needed.

RISK MANAGEMENT

The trustees have a risk management strategy that comprises:

This work has identified only a few minor new risks but it has resulted in better emergency procedures and contingency plans and has given the impetus for better planning. Particular attention has focused on non-financial risks arising from fire, health and safety of staff and students. A key element in the management of financial risk is the setting of a reserves policy and its regular review by trustees.

Page 4

Islington Music Workshop Ltd Trustees Annual Report

TRUSTEES' RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

Company law requires the trustees to prepare financial statements that give a true and fair view of the state of affairs of the charity at the end of the financial year and of its surplus or deficit for the financial year. In doing so the trustees are require to:

• Prepare the financial statements on the going concern basis unless it is appropriate top resume that the charity will continue in business.

The trustees are responsible for maintaining proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with the companies Act 1985. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In accordance with company law, as the company’s directors, we certify that:

• as the directors of the company we have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant audit information and to establish that the charity’s auditors are aware of that information.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

W. Sullivan Trustee signed on 11/12/2025, 14:37:41 GMT 09 December 2025

Page 5

Islington Music Workshop Ltd Independent Examiners Report

Independent Examiner's Report to the trustees of Islington Music Workshop Ltd

I report to the charity trustees on my examination of the financial statements of Islington Music Workshop Ltd for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ACCA, which is one of the listed bodies.

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Stuart Foster

signed on 09/12/2025, 15:47:01 GMT

Stuart Foster (FCCA) ACCA Quantic Accountancy Limited 1 Second Avenue Bluebridge Halstead Essex CO9 2SU 09 December 2025

Page 6

Islington Music Workshop Ltd Statement of Financial Activities

for the year ended 31 March 2025

Notes
Income and endowments
from:
Donations and legacies
4
Charitable activities
5
Investments
6
Total
Expenditure on:
Charitable activities
7
Other
8
Total
Net gains on investments
Net (expenditure)/income
9
Transfers between funds
Net (expenditure)/income
before other gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2025
£
251,742
7,820
28,763		 Restricted
funds
2025
£
-
-
-		 Total funds
2025
£
251,742
7,820
28,763		 Total funds
2024
£
307,403
17,610
3,889
288,325
39,892
276,552		 -
-
708		 288,325
39,892
277,260		 328,902
39,147
250,774
316,444
-		 708
-		 317,152
-		 289,921
-
(28,119)
-		 (708)
-		 (28,827)
-		 38,981
-
(28,119) (708) (28,827) 38,981
(28,119)
1,738,027		 (708)
14,466		 (28,827)
1,752,493		 38,981
1,713,512
1,709,908 13,758 1,723,666 1,752,493

Page 7

Islington Music Workshop Ltd Summary Income and Expenditure Account

for the year ended 31 March 2025

Income
Interest and investment income
Gross income for the year
Expenditure
Depreciation and charges for
impairment of fixed assets
Total expenditure for the year
Net (expenditure)/income before tax
for the year
Net (expenditure )/income for the year		 2025
£
259,562
28,763
288,325
303,297
13,855
317,152
(28,827)
(28,827)		 2024
£
325,013
3,889
328,902
277,281
12,640
289,921
38,981
38,981

Page 8

Islington Music Workshop Ltd Balance Sheet

at 31 March 2025

Company No.
01762763
Notes
2025
£
Fixed assets
Tangible assets
11
1,234,005
1,234,005
Current assets
Debtors
12
63,289
Cash at bank and in hand
447,232
510,521
Creditors:Amount falling due within one year
13
(20,860)
Net current assets
489,661
Total assets less current liabilities
1,723,666
Net assets excluding pension asset or liability
1,723,666
Total net assets
1,723,666
The funds of the charity
Restricted funds
14
Restricted income funds
13,758
13,758
Unrestricted funds
14
General funds
289,206
Designated funds
1,420,702
1,709,908
Reserves
14
Total funds
1,723,666		 2024
£
1,234,844
1,234,844
99,125
425,877
525,002
(7,353)
517,649
1,752,493
1,752,493
1,752,493
14,466
14,466
317,325
1,420,702
1,738,027
1,752,493

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 March 2025 the company was entitled to exemption 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 09 December 2025

And signed on its behalf by:

SB Catto

signed on 11/12/2025, 16:06:47 GMTS.B. Catto

Trustee

09 December 2025

Page 9

Islington Music Workshop Ltd Notes to the Accounts

for the year ended 31 March 2025

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Income

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 10

Islington Music Workshop Ltd Notes to the Accounts

Expenditure

Taxation

The charity is exempt from corporation tax on its charitable activities.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Leasehold property 0.8% Straight line 10% Straight line & reducing Studio equipment balance Fixtures & Fittings 10% Straight line

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Page 11

Islington Music Workshop Ltd Notes to the Accounts

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

Page 12

Islington Music Workshop Ltd Notes to the Accounts

3 Statement of Financial Activities - prior year

3
Statement of Financial Activities - prior year
Income and endowments from:
Donations and legacies
Charitable activities
Investments
Total
Expenditure on:
Charitable activities
Other
Total
Net income
Net income before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
4
Income from donations and legacies
Grants received		 Unrestricted
funds
2024
£
307,403
17,610
3,889
328,902
39,147
249,986
289,133
39,769
39,769
39,769
1,698,258
1,738,027
Unrestricted
£
251,742
251,742		 Restricted
funds
2024
£
-
-
-
-
-
788
788
(788)
(788)
(788)
15,254
14,466
Total
2025
£
251,742
251,742		 Total funds
2024
£
307,403
17,610
3,889
328,902
39,147
250,774
289,921
38,981
38,981
38,981
1,713,512
1,752,493
Total
2024
£
307,403
307,403
Donated goods, facilities and services received
Grants received
5
Income from charitable activities
Advancement of education		 Unrestricted
£
7,820
7,820		 Total
2025
£
251,742
251,742
Total
2025
£
7,820
7,820		 Total
2024
£
307,403
307,403
Total
2024
£
17,610
17,610

Page 13

Islington Music Workshop Ltd Notes to the Accounts

6 Income from investments

Deposit account interest
7
Expenditure on charitable activities
Expenditure on charitable
activities
Advancement of education
Qualifying fees
Bursaries
Governance costs
8
Other expenditure
Advertising and website
costs
Employee costs
Motor and travel costs
Premises costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
Legal and professional costs
9
Net (expenditure)/income before transfers
This is stated after charging:
Depreciation of owned fixed assets
Independent Examiner's fee		 Unrestricted
£
33,141
171,137
849
45,883
13,147
10,574
1,821
276,552		 Unrestricted
£
28,763
28,763
Unrestricted
£
36,892
-
3,000
39,892
Restricted
£
-
-
-
-
708
-
-
708
2025
£
13,855
1,828		 Total
2025
£
28,763
28,763
Total
2025
£
36,892
-
3,000
39,892
Total
2025
£
33,141
171,137
849
45,883
13,855
10,574
1,821
277,260		 Total
2024
£
3,889
3,889
Total
2024
£
38,147
1,000
-
39,147
Total
2024
£
31,125
159,115
-
34,956
12,640
10,558
2,380
250,774
2024
£
12,640
1,467

Page 14

Islington Music Workshop Ltd Notes to the Accounts

10 Staff costs
2025 2024
Salaries and wages 160,099 143,886
Social security costs 9,737 14,867
Pension costs 828 -
170,664 158,753
No employee received emoluments in excess of £60,000.
The average monthly number of full time equivalent employees during the year was as follows:
2025 2024
Number Number
Employees 3 3
3 3
11 Tangible fixed assets
Land and
buildings		 Studio
equipment		 Fixtures &
Fittings		 Total
£ £ £ £
Cost or revaluation
At 1 April 2024 1,334,245 288,205 13,023 1,635,473
Additions - 13,016 - 13,016
At 31 March 2025 1,334,245 301,221 13,023 1,648,489
Depreciation and
impairment
At 1 April 2024 112,248 276,092 12,289 400,629
Depreciation charge for the 10,674 3,108 73 13,855
year
At 31 March 2025 122,922 279,200 12,362 414,484
Net book values
At 31 March 2025 1,211,323 22,021 661 1,234,005
At 31 March 2024 1,221,997 12,113 734 1,234,844
12 Debtors
2025 2024
£ £
Other debtors 2,328 -
Prepayments and accrued income 60,961 99,125
63,289 99,125
13 Creditors:
amounts falling due within one year
2025 2024
£ £
Other taxes and social security - 4,926
Other creditors 19,000 -
Accruals 1,860 2,427
20,860 7,353

Page 15

Islington Music Workshop Ltd Notes to the Accounts

14 Movement in funds

14 Movement in funds
Restricted funds:
Restricted income funds:
Equipment
Total
Unrestricted funds:
General funds
Designated funds:
Contingency fund
Capital asset fund
Total
Total funds		 At 1 April
2024
14,466
14,466
317,325
100,000
1,320,702
1,420,702
1,752,493		 Incoming
resources
(including
other
gains/losses
)
£
-
-
288,325
-
-
-
288,325		 Resources
expended
£
(708)
(708)
(316,444)
-
-
-
(317,152)		 At 31
March
2025
£
13,758
13,758
289,206
100,000
1,320,702
1,420,702
1,723,666

Purposes and restrictions in relation to the funds:

Restricted funds:
Equipment For future equipment purchases
Designated funds:
Contingency fund To wind up affairs of the organisation should income/ funds cease
Capital asset fund Seperate capital and revenue assets of the charity

15 Analysis of net assets between funds

Fixed assets
Net current assets
Reconciliation of net debt
Cash and cash equivalents
Net debt		 Unrestricted
funds
£
1,227,626
489,661
1,717,287
At 1 April
2024
£		 Restricted
funds
£
6,379
-
6,379
Cash flows
£		 Total
£
1,234,005
489,661
1,723,666
At 31
March
2025
£
425,877 21,355 447,232
425,877
425,877		 21,355
21,355		 447,232
447,232

16 Reconciliation of net debt

Page 16

Islington Music Workshop Ltd Notes to the Accounts

17 Commitments

Pension commitments

Pension commitments
2025 2024
£ £
The pension cost charge to the company
amounted to: 828 -

18 Related party disclosures

Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 17

Islington Music Workshop Ltd Detailed Statement of Financial Activities

for the year ended 31 March 2025

Income and endowments from:
Donations and legacies
Grants received
Charitable activities
Advancement of education
Investments
Deposit account interest
Total income and endowments
Expenditure on:
Charitable activities
Advancement of education
Qualifying fees
Bursaries
Total of expenditure on charitable
activities
Other expenditure
Advertising and website costs
Employee costs
Salaries/wages
Employer's NIC
Pension costs
Staff entertainment
Motor and travel costs
Travel and subsistence
Premises costs
Rent
Rates
Light, heat and power
Premises cleaning
Premises insurances
Premises repairs and
maintenance		 Unrestricte
d funds
2025
£
251,742
251,742
7,820
7,820
28,763
28,763
288,325
36,892
-
3,000
39,892
39,892
33,141
33,141
160,099
9,737
828
473
171,137
849
849
6,139
10,651
10,655
6,236
1,498
10,704		 2025
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total funds
2025
£
251,742
251,742
7,820
7,820
28,763
28,763
288,325
36,892
-
3,000
39,892
39,892
33,141
33,141
160,099
9,737
828
473
171,137
849
849
6,139
10,651
10,655
6,236
1,498
10,704		 Total funds
2024
£
307,403
307,403
17,610
17,610
3,889
3,889
328,902
38,147
1,000
-
39,147
39,147
31,125
31,125
143,886
14,867
-
362
159,115
-
-
7,240
5,952
9,572
7,125
-
5,067

Page 18

Islington Music Workshop Ltd Detailed Statement of Financial Activities

General administrative costs,
including depreciation and
amortisation
Depreciation of land and
buildings
Depreciation of Studio
equipment
Depreciation of Fixtures &
Fittings
Bank charges
Equipment repairs and
maintenance
General insurances
Software, IT support and related
costs
Stationery and printing
Subscriptions
Sundry expenses
Telephone, fax and broadband
Legal and professional costs
Audit/Independent examination
fees
Other legal and professional
costs
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net (expenditure)/income
Net (expenditure)/income before
other gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 45,883
10,674
2,400
73
24
1,723
3,949
28
873
728
163
3,086
23,721
1,821
-
1,821
276,552
316,444
-
(28,119)
(28,119)
-
(28,119)
1,738,027
1,709,908		 -
-
708
-
-
-
-
-
-
-
-
-
708
-
-
-
708
708
-
(708)
(708)
-
(708)
14,466
13,758		 45,883
10,674
3,108
73
24
1,723
3,949
28
873
728
163
3,086
24,429
1,821
-
1,821
277,260
317,152
-
(28,827)
(28,827)
-
(28,827)
1,752,493
1,723,666		 34,956
10,674
1,885
81
24
1,924
3,791
376
858
693
295
2,597
23,198
2,332
48
2,380
250,774
289,921
-
38,981
38,981
-
38,981
1,713,512
1,752,493

Page 19

IRmark: KFETZ55QP6KC2O25Q3PDM2V6ZABXNFEB

Islington Music Workshop Ltd (UTR: 2347096978) - Prepared by: Quantic Accountancy Limited on 09/12/2025 at 12:36

Adjustment of Profits Computation

Turnover from Trade or Profession - Profit Per Accounts - - Adjusted Trading Profits

For period 01/04/2024 to 31/03/2025

Page 1

Corporation Tax Calculation
Adjusted
Trading
Profits
Bank, etc.
Interest &
NTLR Profits
Property
Business
Profits
Non-trading
Gains on
IFAs
Chargeable
Gains
Current Period Profits
-
-
-
-
-
Brought Forward
Losses/Deficits used in
this Computation
Pre
1st
April
2017
Trading Losses
-
NTLR Deficits
-
-
-
-
Property Business Losses
-
-
-
-
-
Non-trading Losses on Intangible Fixed Assets
-
-
-
-
-
Post
1st
April
2017
Trading Losses
-
-
-
-
-
NTLR Deficits
-
-
-
-
-
Property Business Losses
-
-
-
-
-
Non-trading Losses on Intangible Fixed Assets
-
-
-
-
-
Sub-totals
-
-
-
-
-		 Corporation Tax Calculation
Adjusted
Trading
Profits
Bank, etc.
Interest &
NTLR Profits
Property
Business
Profits
Non-trading
Gains on
IFAs
Chargeable
Gains
Current Period Profits
-
-
-
-
-
Brought Forward
Losses/Deficits used in
this Computation
Pre
1st
April
2017
Trading Losses
-
NTLR Deficits
-
-
-
-
Property Business Losses
-
-
-
-
-
Non-trading Losses on Intangible Fixed Assets
-
-
-
-
-
Post
1st
April
2017
Trading Losses
-
-
-
-
-
NTLR Deficits
-
-
-
-
-
Property Business Losses
-
-
-
-
-
Non-trading Losses on Intangible Fixed Assets
-
-
-
-
-
Sub-totals
-
-
-
-
-		 Corporation Tax Calculation
Adjusted
Trading
Profits
Bank, etc.
Interest &
NTLR Profits
Property
Business
Profits
Non-trading
Gains on
IFAs
Chargeable
Gains
Current Period Profits
-
-
-
-
-
Brought Forward
Losses/Deficits used in
this Computation
Pre
1st
April
2017
Trading Losses
-
NTLR Deficits
-
-
-
-
Property Business Losses
-
-
-
-
-
Non-trading Losses on Intangible Fixed Assets
-
-
-
-
-
Post
1st
April
2017
Trading Losses
-
-
-
-
-
NTLR Deficits
-
-
-
-
-
Property Business Losses
-
-
-
-
-
Non-trading Losses on Intangible Fixed Assets
-
-
-
-
-
Sub-totals
-
-
-
-
-		 Total Profits
-
-
-
Trading Losses carried back from later period
-
-
-
-
-
Current Period
Losses/Deficits used in
this Computation
against General Profits		 Pre
1st
April
2017
Post
1st
April
2017
Qualifying Donations
-		 -
-
-
Used Against Total Profits
-
Charges Surrendered as Group Relief
-
Group Relief
Group Relief for Carried Forward Losses
Profits Chargeable to Corporation Tax
-

For period 01/04/2024 to 31/03/2025

Page 2

IRmark: KFETZ55QP6KC2O25Q3PDM2V6ZABXNFEB

Islington Music Workshop Ltd (UTR: 2347096978) - Prepared by: Quantic Accountancy Limited on 09/12/2025 at 12:36

Corporation Tax Payable
Financial
Year
Amount
of Profit
Rate of tax
%
Tax
2024
-
-
Corporation Tax
-
Marginal relief
-
Corporation Tax Chargeable
-		 Corporation Tax Payable
Financial
Year
Amount
of Profit
Rate of tax
%
Tax
2024
-
-
Corporation Tax
-
Marginal relief
-
Corporation Tax Chargeable
-
Losses Memorandum
Pre 1 April 2017
Post 1 April 2017
Adjusted
Trading
Losses
NTLR
Deficits
Property
Business
Losses
Non-trading
Losses on
IFAs
Adjusted
Trading
Losses
NTLR
Deficits
Property
Business
Losses		 Non-trading
Losses on
IFAs
-
-
-
-
-
-
Brought Forward
-
-
-
-
-
-
-
Used in this Computation
-
-
-
-
-
-
-
Surrendered for Group Relief
-
-
-
Current Period
-
-
-
-
-
-
-
Surrendered for Group Relief
-
-
-
-
-
-
-
Carried back to Earlier Period
-
-
-
-
Terminal loss/April 2020 -
March 2022 loss carry back
claim? [Y/N]
N
Carried Forward Losses After Reliefs Taken
-
-
-
-
-
-
-
Company in a group? [Y/N]
N

For period 01/04/2024 to 31/03/2025

Page 3

IRmark: KFETZ55QP6KC2O25Q3PDM2V6ZABXNFEB

Islington Music Workshop Ltd (UTR: 2347096978) - Prepared by: Quantic Accountancy Limited on 09/12/2025 at 12:36

Marginal Relief Calculation

Marginal Relief Calculation Marginal Relief Calculation
Financial years
beginning 1 April
Associated
Companies
2024
-
n/a
-
n/a
x
n/a
-
n/a
-
n/a
x
Exempt dividends or distributions per accounts
-
Exempt dividends from group companies
-		 n/a
x
n/a
=
n/a
n/a
n/a
x
n/a
=
n/a
n/a
Total Marginal Relief =
n/a

For period 01/04/2024 to 31/03/2025

Page 4

IRmark: KFETZ55QP6KC2O25Q3PDM2V6ZABXNFEB

Islington Music Workshop Ltd (UTR: 2347096978) - Prepared by: Quantic Accountancy Limited on 09/12/2025 at 12:36

Calculation of Brought Forward Losses Restriction

Qualifying profits: Post 1 April 2017 profits chargeable to corporation tax Trading
profit
-		 Non Trading
Profit
-		 Total
-
Deductions allowance (5,000,000) - (5,000,000)
Relevant profits
50% of relevant profits [if relevant profits > 0]
Deductions allowance		 -
-
5,000,000
5,000,000
-
-		 -
-
-
-
-
-
-
-
5,000,000
Relevant maximum post 1 April 2017 brought forward losses available 5,000,000
Total profits in the period
Deductions allowance: Post 1 April 2017 brought forward losses claimed		 -
-

For period 01/04/2024 to 31/03/2025

Page 5

IRmark: KFETZ55QP6KC2O25Q3PDM2V6ZABXNFEB

Islington Music Workshop Ltd (UTR: 2347096978) - Prepared by: Quantic Accountancy Limited on 09/12/2025 at 12:36

HM Revenue & Customs

Company Tax Return CT600 (2025) Version 3

for accounting periods starting on or after 1 April 2015

Your Company Tax Return

If we send the company a 'Notice' to deliver a Company Tax Return it has to comply by the filing date or we charge a penalty, even if there is no tax to pay.

A return includes a Company Tax Return form, any supplementary pages, accounts, computations and any relevant information. The CT600 Guide tells you how the return must be formatted and delivered. It contains general information you may need to deliver your return, links to more detailed advice and box-by–box guidance for this form and the supplementary pages.

The forms in the CT600 series set out the information we need and provide a standard format for calculations.

Company information
1
Company name		 Islington Music Workshop Ltd
2
Company registration number		 01762763
3
Tax reference		 2347096978
4
Type of company		 8

Northern Ireland
Put an ‘X’ in the appropriate box(es) below
5
NI trading activity		 6
SME
7
NI employer		 8
Special circumstances

About this return

This is the tax return for the company named above, for the period below

This is the tax return for the company named above, for the period below This is the tax return for the company named above, for the period below This is the tax return for the company named above, for the period below This is the tax return for the company named above, for the period below This is the tax return for the company named above, for the period below This is the tax return for the company named above, for the period below
30 from DD/MM/YYYY
35		 to DD/MM/YYYY
01/04/2024 ct2025v1 31/03/2025
Put an ‘X’ in the appropriate box(es) below
40 A repayment is due for this return period
45 Claim or relief affecting an earlier period
50 Making more than one return for this company now
55 This return contains estimated figures
60 Company part of a group that is not small
65 Notice of disclosable avoidance schemes
Transfer Pricing
70 Compensating adjustment claimed
75 Company qualifies for SME exemption

For period 01/04/2024 to 31/03/2025

Page 1

IRmark: KFETZ55QP6KC2O25Q3PDM2V6ZABXNFEB

Islington Music Workshop Ltd (UTR: 2347096978) - Prepared by: Quantic Accountancy Limited on 09/12/2025 at 12:36

- About this return continued
Accounts and computations
80 I attach accounts and computations for the period to which this return relates X
85 I attach accounts and computations for a different period
90 If you are not attaching the accounts and computations, explain why
PDF accounts attached with explanation
Supplementary pages enclosed
95 Loans and arrangements to participators by close companies -form CT600A
100 Controlled foreign companies and foreign permanent establishment exemptions, hybrid and other mismatches -form
CT600B
105 Group and consortium -form CT600C
110 Insurance -form CT600D
115 Charities and Community Amateur Sports Clubs (CASCs) -form CT600E X
120 Tonnage Tax -form CT600F
125 Northern Ireland -form CT600G
130 Cross-border royalties –form CT600H
135 Supplementary charge in respect of ring fence trades - form CT600I
140 Disclosure of Tax Avoidance Schemes -form CT600J
141 Restitution Tax -form CT600K
142 Research and Development -form CT600L
.
143 Freeports and Investment Zones -form CT600M
.
144 Residential Property Developer Tax (RPDT) –form CT600N
.
96 Creative industries –form CT600P
Tax calculation -Turnover
145 Total turnover from trade -
150 Banks, building societies, insurance companies and other financial concerns
‘X’ i hi if h i h		 i 14
–put an n ts box you do not ave a recognsed turnover and ave not made an entry n box 5
Income
155
Trading profits		 -
160
Trading losses brought forward set against trading profits		 -
165
Net trading profits –box 155 minus box 160		 -
170
Bank, building society or other interest, and profits from
non-trading loan relationships		 -
172
Put an ‘X’ in box 172 if the figure in box 170 is net of carrying back a deficit from a later accounting period

For period 01/04/2024 to 31/03/2025

Page 2

IRmark: KFETZ55QP6KC2O25Q3PDM2V6ZABXNFEB

Islington Music Workshop Ltd (UTR: 2347096978) - Prepared by: Quantic Accountancy Limited on 09/12/2025 at 12:36

- Income continued
175
Annual payments not otherwise charged to Corporation Tax
and from which Income Tax has not been deducted		 -
180
Non-exempt dividends or distributions from non-UK resident companies		 -
185
Income from which Income Tax has been deducted		 -
190
Income from a property business		 -
195
Non-trading gains on intangible fixed assets		 -
200
Tonnage Tax profits		 -
205
Income not falling under any other heading		 -

Chargeable gains
210
Gross chargeable gains		 -
215
Allowable losses including losses brought forward		 -
220
Net chargeable gains -box 210 minus box 215		 -
Profits before deductions and reliefs
225
Losses brought forward against certain investment income		 -
230
Non-trade deficits on loan relationships (including interest) and derivative contracts
(financial instruments) brought forward set against non-trading profits		 -
235
Profits before other deductions and reliefs -net sum of boxes 165 to 205 and 220
minus sum of boxes 225 and 230		 -

Deductions and reliefs
240
Losses on unquoted shares		 -
245
Management expenses		 -
250
UK property business losses for this or previous accounting period		 -
255
Capital allowances for the purposes of management of the business		 -
260
Non-trade deficits for this accounting period from loan relationships and derivative
contacts (financial instruments)		 -

For period 01/04/2024 to 31/03/2025

Page 3

IRmark: KFETZ55QP6KC2O25Q3PDM2V6ZABXNFEB

Islington Music Workshop Ltd (UTR: 2347096978) - Prepared by: Quantic Accountancy Limited on 09/12/2025 at 12:36

Deductions and Reliefs-continued Deductions and Reliefs-continued Deductions and Reliefs-continued Deductions and Reliefs-continued Deductions and Reliefs-continued
263
Carried forward non-trade deficits from loan relationships and derivative contracts
(financial instruments)		 -
265
Non-trading losses on intangible fixed assets		 -
275
Total trading losses of this or a later accounting period		 -
280
Put an ‘X’ in box 280 if amounts carried back from later accounting periods are
included in box 275
285
Trading losses carried forward and claimed against total profits		 -
290
Non-trade capital allowances		 -
295
Total of deductions and reliefs –total of boxes 240 to 275, 285 and 290		 -
300
Profits before qualifying donations and group relief –box 235 minus box 295		 -
305
Qualifying donations		 -
310
Group relief		 -
312
Group relief for carried forward losses		 -
315
Profits chargeable to Corporation Tax –box 300 minus boxes 305, 310 and 312		 -
320
Ring fence profits included		 -
325
Northern Ireland profits included		 -
Tax calculation
326
Number of associated companies in this period		 -
327
Number of associated companies in the first financial year		 -
328
Number of associated companies in the second financial year		 -
329
Put an ‘X’ in box 329 if the company is chargeable at the small profit rate or is
entitled to marginal relief
Enter how much profit has to be charged and at what rate

Financial
year (yyyy)
Amount of profit		 Rate of tax
%		 Tax
330 335 - 340 - 345 -
350 - 355 360 -
365 - 370 375 -
380 385 - 390 - 395 -
400 - 405 410 -
415 - 420 425 -

For period 01/04/2024 to 31/03/2025

Page 4

IRmark: KFETZ55QP6KC2O25Q3PDM2V6ZABXNFEB

Islington Music Workshop Ltd (UTR: 2347096978) - Prepared by: Quantic Accountancy Limited on 09/12/2025 at 12:36

- Tax calculation continued
Corporation Tax -total of boxes 345, 360, 375, 395, 410 and 425 430 -
Marginal relief 435 -
Corporation Tax chargeable -box 430 minus box 435 440
Reliefs and deductions in terms of tax
445
Community Investment Tax Relief		 -
450
Double Taxation Relief		 -
455
Put an ‘X’ in box 455 if box 450 includes an underlying Rate relief claim
460
Put an ‘X’ in box 460 if box 450 includes any amount carried back from a
later period
465
Advance Corporation Tax		 -
470
Total reliefs and deduction in terms of tax -total of boxes 445, 450 & 465		 -
Coronavirus support schemes and overpayments (see CT600 guide for definitions)
471
Coronavirus Job Retention Scheme (CJRS) received		 -
472
CJRS entitlement		 -
473
CJRS overpayment already assessed or voluntary disclosed		 -
474
Other coronavirus overpayments		 -
Energy levies
986
Energy (Oil and Gas) Profits Levy (EOGPL) amounts liable		 -
987
Electricity Generator Levy (EGL) exceptional generation receipts		 -
Calculation of tax outstanding or overpaid
475
Net Corporation Tax liability – box 440 minus box 470		 -
480
Tax payable on loans and arrangements to participators		 -
485
Put an ‘X’ in box 485 if you completed box A70 in the supplementary pages
CT600A
490
Controlled Foreign Companies (CFC) tax payable		 -
495
Bank levy payable		 -
496
Bank surcharge payable		 -
497
Residential Property Developer Tax (RPDT) payable		 -

For period 01/04/2024 to 31/03/2025

Page 5

IRmark: KFETZ55QP6KC2O25Q3PDM2V6ZABXNFEB

Islington Music Workshop Ltd (UTR: 2347096978) - Prepared by: Quantic Accountancy Limited on 09/12/2025 at 12:36

- Calculation of tax outstanding or overpaid continued
500
CFC tax, bank levy, bank surcharge and RPDT payable –total of boxes 490, 495,
 -
496 and 497
501
EOGPL payable		 -
502
EGL payable		 -
505
Supplementary charge (ring fence trades) payable		 -
510
Tax chargeable - total of boxes 475, 480, 500, 501, 502 and 505		 -
515
Income Tax deducted from gross income included in profits		 -
520
Income Tax repayable to the company		 -
525
Self-assessment of tax payable before restitution tax and coronavirus support
scheme overpayments –box 510 minus box 515		 -
526
Coronavirus support schemes overpayment now due –total of boxes 471 and 474
 -
minus boxes 472 and 473
527
Restitution tax		 -
528
Self-assessment of tax payable – total of boxes 525, 526 and 527		 -
Tax reconciliation
530 Research and Development credit -
535 (Not currently used)
540 Creatives tax credit -
541 Audio-Visual expenditure credit (AVEC) and Video Games expenditure credit
(VGEC)		 -
545
Total of Research and Development credit, creatives tax credit and AVEC/VGEC –
total box 530 to 541		 -
550 Land remediation tax credit -
555 Life assurance company tax credit -
560
Total land remediation and life assurance company tax credit –total box 550 and
555		 -
565
Capital allowances first-year tax credit		 -
570
Surplus Research and Development credits or creative tax credit payable –box 545
minus box 525		 -

For period 01/04/2024 to 31/03/2025

Page 6

IRmark: KFETZ55QP6KC2O25Q3PDM2V6ZABXNFEB

Islington Music Workshop Ltd (UTR: 2347096978) - Prepared by: Quantic Accountancy Limited on 09/12/2025 at 12:36

- Tax reconciliation continued
575
Land remediation or life assurance company tax credit payable –total of boxes 545 and		 -

560 minus boxes 525 and 570
580
Capital allowances first-year tax credit payable -boxes 545, 560 and 565 minus boxes
525, 570 and 575		 -
585
Ring fence Corporation Tax included		 -
586
NI Corporation Tax included		 -
590
Ring fence supplementary charge included		 -
595
Tax already paid (and not already repaid)		 -
600
Tax outstanding -box 525 minus boxes 545, 560, 565 and 595		 -
605
Tax overpaid including surplus or payable credits -total sum of boxes 545, 560, 565
 -
and 595 minus 525
610
Group tax refunds surrendered to this company		 -
614
Audio-Visual expenditure credit and Video Games expenditure credit surrendered to this
company		 -
615
Research and Development expenditure credits surrendered to this company		 -
Exporter information
During the return period, did the company export goods and/or services to individuals, enterprises or organisations outside
the United Kingdom (UK)?
616
Yes - goods		 617
Yes – services		 618 No – neither
Indicators and information
620
Franked investment income/Exempt ABGH distributions		 -
625
Number of 51% group companies		 -
Put an ‘X’ in the relevant boxes, if in the period, the company:
630
should have made (whether it has or not) instalment payments as a large company under the Corporation Tax
(Instalment Payments) Regulations
631
should have made (whether it has or not) instalment payments as a very large company
(Instalment Payments) Regulations		 under the Corporation Tax
635
is within a group payments arrangement for the period
640
has written down or sold intangible assets
645
has made cross-border royalty payments
647
Eat Out to Help Out Scheme: reimbursed discounts included as taxable income		 -

For period 01/04/2024 to 31/03/2025

Page 7

IRmark: KFETZ55QP6KC2O25Q3PDM2V6ZABXNFEB

Islington Music Workshop Ltd (UTR: 2347096978) - Prepared by: Quantic Accountancy Limited on 09/12/2025 at 12:36

Information about enhanced expenditure and tax reliefs Research and Development (R&D) or creatives enhanced expenditure and tax reliefs
650
Put an ‘X’ in box 650 if a R&D claim is made by a small or medium-sized enterprise (SME),
including a SME subcontractor to a large company and/or for all creatives claims
653
Put an ‘X’ in box 653 if the claim is made by a R&D intensive SME
655
Put an ‘X’ in box 655 if the claim is made by a large company
656
Put an ‘X’ in box 656 to confirm that a R&D claim notification form has been submitted
657
Put an ‘X’ in box 657 to confirm that a R&D additional information form has been submitted
658
Put an ‘X’ in box 658 to confirm that a Creatives additional information form has been submitted
659
R&D expenditure qualifying for SME/R&D intensive SME relief		 -
660
R&D enhanced expenditure		 -
663
Creatives core expenditure		 -
665
Creatives additional deduction		 -
670
R&D enhanced expenditure and creatives additional deduction total box 660 and box
665		 -
675
R&D enhanced expenditure of a SME on work subcontracted to it by a large company		 -
680
Vaccine research expenditure		 -
Land remediation enhanced expenditure
685
Enter the total enhanced expenditure		 -
Information about capital allowances and balancing charges/disposal values
Allowances and charges in calculation of trading profits and losses
Capital allowances Balancing charges
Annual investment allowance 690 -
Full expensing 688 - 689 -
Machinery and plant - super-deduction 691 - 692 -
Machinery and plant - special rate allowance 693 - 694 -
Machinery and plant - special rate pool 695 - 700 -
Machinery and plant - main pool 705 - 710 -
Structures and buildings 711 -
Business premises renovation 715 - 720 -
Other allowances and charges 725 - 730 -

For period 01/04/2024 to 31/03/2025

Page 8

IRmark: KFETZ55QP6KC2O25Q3PDM2V6ZABXNFEB

Islington Music Workshop Ltd (UTR: 2347096978) - Prepared by: Quantic Accountancy Limited on 09/12/2025 at 12:36

Allowances and charges in calculation of trading profits and losses
Capital allowances Disposal value
Electric vehicle charge-points 713 - 714 -
Enterprise zones 721 - 722 -
Zero-emission goods vehicles 723 - 724 -
Zero-emission cars 726 - 727 -
Allowances and charges not included in calculation of trading profits and losses
Capital allowances Balancing charges
Annual investment allowance 735 -
Structures and buildings 736 -
Full expensing 733 - 734 -
Business premises renovation 740 - 745 -
Machinery and plant - super-deduction 741 - 742 -
Machinery and plant - special rate allowance 743 - 744 -
Other allowances and charges 750 - 755 -
Capital allowances Disposal value
Electric vehicle charge-points 737 - 738 -
Enterprise zones 746 - 747 -
Zero-emission goods vehicles 748 - 749 -
Zero-emission cars 751 - 752 -

For period 01/04/2024 to 31/03/2025

Page 9

IRmark: KFETZ55QP6KC2O25Q3PDM2V6ZABXNFEB

Islington Music Workshop Ltd (UTR: 2347096978) - Prepared by: Quantic Accountancy Limited on 09/12/2025 at 12:36

Qualifying expenditure
760
Machinery and plant on which first year allowance is claimed		 -
765
Designated environmentally friendly machinery and plant		 -
770
Machinery and plant on long-life assets and integral features		 -
771
Structures and buildings		 -
772
Machinery and plant - super-deduction		 -
773
Machinery and plant - special rate allowance		 -
775
Other machinery and plant		 -

Losses, deficits and excess amounts

Amount arising
Amount Maximum available for surrender as
group relief
Losses of trades carried on wholly or partly in
the UK		 780 - 785 -
Losses of trades carried on wholly outside the
UK		 790 -
Non-trading deficits on loan relationships and
derivative contracts		 795 - 800 -
UK property business losses 805 - 810 -
Overseas property business losses 815 -
Losses from miscellaneous transactions 820 -
Capital losses 825 -
Non-trading losses on intangible fixed assets 830 - 835 -

Excess amounts
Amount Maximum available for surrender as
group relief
Non-trading capital allowances 840 -
Qualifying donations 845 -
Management expenses 850 - 855 -

For period 01/04/2024 to 31/03/2025

Page 10

IRmark: KFETZ55QP6KC2O25Q3PDM2V6ZABXNFEB

Islington Music Workshop Ltd (UTR: 2347096978) - Prepared by: Quantic Accountancy Limited on 09/12/2025 at 12:36

Northern Ireland information

856 Amount of group relief claimed which relates to NI trading - losses used against rest of UK/mainstream profits 857 Amount of group relief claimed which relates to NI trading - losses used against NI trading profits 858 Amount of group relief claimed which relates to rest of - UK/mainstream losses used against NI trading profits

Overpayments and repayments

Small repayments

860 Do not repay sums of - or less.

860
Do not repay sums of
-
or less.		 860
Do not repay sums of
-
or less.		 860
Do not repay sums of
-
or less.		 860
Do not repay sums of
-
or less.		 860
Do not repay sums of
-
or less.		 860
Do not repay sums of
-
or less.
Read the overpayments and repayments section of the Company Tax Return Guide for specific guidance on when and how to
make an entry in this box.
Repayments for the period covered by this return
865 Repayment of Corporation Tax -
870 Repayment of Income Tax -
875 Payable Research and Development tax credit -
880 Payable Research and Development expenditure credit -
885 Payable creatives tax credit -
886 Payable Audio-Visual expenditure credit and Video Games expenditure credit -
890 Payable land remediation or life assurance company tax credit -
895 Payable capital allowances first-year tax credit -
Surrender of tax refund within group
Including surrenders under the Instalment Payments Regulations.
900 The following amount is to be surrendered -
Put an ‘X’ in the appropriate boxes below
the joint Notice is attached 905
or
will follow 910
915 Please stop repayment of the following amount until we send you the Notice -

For period 01/04/2024 to 31/03/2025

Page 11

IRmark: KFETZ55QP6KC2O25Q3PDM2V6ZABXNFEB

Islington Music Workshop Ltd (UTR: 2347096978) - Prepared by: Quantic Accountancy Limited on 09/12/2025 at 12:36

Bank details (for person to whom a repayment is to be made)
920 Name of bank or building society
925 Branch sort code
930 Account number
935 Name of account
940 Building society reference

Payments to a person other than the company
943 Put an ‘X’ in box 943 if there is a R&D payable credit and one of the conditions listed in the CT600 Guide is
applicable
945 Complete the authority below if you want the repayment to be made to a person other than the company
I, as (enter status - company secretary, treasurer, liquidator or authorised agent, etc.)
950 of (enter company name)
955 authorise (enter name)
960 of address(enter address)
Postcode
965 Nominee reference
to receive payment on company's behalf
970 Name

Declaration

Declaration

I declare that the information I have given on this Company Tax Return and any supplementary pages is correct and complete to the best of my knowledge and belief.

I understand that giving false information in the return, or concealing any part of the company’s profits or tax payable, can lead to both the company and me being prosecuted.

975 Name
W Sullivan
980 Date DD/MM/YYYY signed on 11/12/2025, 14:37:41 GMT
985 Status
Trustee

For period 01/04/2024 to 31/03/2025

Page 12

IRmark: KFETZ55QP6KC2O25Q3PDM2V6ZABXNFEB

Islington Music Workshop Ltd (UTR: 2347096978) - Prepared by: Quantic Accountancy Limited on 09/12/2025 at 12:36

HM Revenue & Customs

Company Tax Return – supplementary page Charities and Community Amateur Sports Clubs (CASCs) CT600E (2015) Version 3 for accounting periods starting on or after 1 April 2015

Guidance

Guidance about when and how to complete this supplementary page can be found in the CT600 Guide.

For further information read What supplementary pages do I need to complete and include as part of the Company Tax Return? to find out what supplementary pages you need to complete.

Also, read the Important points about all supplementary pages and CT600E – Charities and Community Amateur Sports Clubs (CASCs) for further guidance about completing this supplementary page.

Company information
E1 Company name Islington Music Workshop Ltd
E2 Tax reference 2347096978
Period covered by this supplementary page (cannot exceed 12 months)
E3 from DD/MM/YYYY 01/04/2024
E4 to DD/MM/YYYY 31/03/2025

Claims to exemption (this section should be completed in all cases)

Charity/CASC repayment reference E5
Charity Commission registration number, or Scottish
Charity number (if applicable)		 E10 295214
Put an ‘X’ in the relevant box if during the period covered by these supplementary pages:
The company was a charity/CASC and is claiming
exemption from all tax on all or part of its income and		 E15 X

gains (Also put an ‘X’ in box E15 if the company was a
charity/CASC but had no income or gains in the period)
All income and gains are exempt from tax and have
been will be applied for charitable or qualifying purposes		 E20 X
, ,
only
Some of the income and gains may not be exempt or
have not been applied for charitable or qualifying		 E25

purposes only, and I have completed form CT600
I claim exemption from tax
Name E30 W Sullivan
Status E35 Trustee
Date_DD/MM/YYYY_ E40

For period 01/04/2024 to 31/03/2025

Page 1

IRmark: KFETZ55QP6KC2O25Q3PDM2V6ZABXNFEB

Islington Music Workshop Ltd (UTR: 2347096978) - Prepared by: Quantic Accountancy Limited on 09/12/2025 at 12:36

Repayments

To make a repayment claim for the period covered by these supplementary pages, please register and enrol to use the Charities Online service. See CT600 guide for further information. E45 Put an ‘X’ in the box if during the period covered by these supplementary pages you have over claimed tax

Information required

Enter details of any income received from the following sources, claimed as exempt from tax in the hands of the charity/CASC. Enter the figure included in the charity's/CASC'S accounts for the period covered by this return.

Non-exempt amounts should be entered on the form CT600 in the appropriate boxes.

Enter details of any income received from the following sources, claimed as exempt from tax in the hands of the charity/CASC.
Enter the figure included in the charity's/CASC'S accounts for the period covered by this return.
Non-exempt amounts should be entered on the form CT600 in the appropriate boxes.		 Enter details of any income received from the following sources, claimed as exempt from tax in the hands of the charity/CASC.
Enter the figure included in the charity's/CASC'S accounts for the period covered by this return.
Non-exempt amounts should be entered on the form CT600 in the appropriate boxes.		 Enter details of any income received from the following sources, claimed as exempt from tax in the hands of the charity/CASC.
Enter the figure included in the charity's/CASC'S accounts for the period covered by this return.
Non-exempt amounts should be entered on the form CT600 in the appropriate boxes.		 Enter details of any income received from the following sources, claimed as exempt from tax in the hands of the charity/CASC.
Enter the figure included in the charity's/CASC'S accounts for the period covered by this return.
Non-exempt amounts should be entered on the form CT600 in the appropriate boxes.
Type of income Amount
Enter total turnover from exempt charitable trading activities E50 7,820
Investment income - exclude any amounts included on form CT600 E55 28,763
UK land and building - exclude any amounts included on form CT600 E60 -
Gift Aid - exclude any amounts included on form CT600 E65 -
From other charities - exclude any amounts included on form CT600 E70 -
Gifts of shares or securities received E75 -
Gifts of real property received E80 -
Other sources (not included above) E85 307,403
Total of boxes E50 to E85 E90 343,986
Enter details of expenditure as shown in the charity's/CASC's accounts for the period covered by these supplementary pages
Type of expenditure Amount
Trading costs in relation to exempt charitable activities (in box E50) E95 317,152
UK land and buildings costs in relation to exempt charitable activities (in
box E60)		 E100 -
All general administration/governance costs E105 -
All grants and donations made within the UK E110 -
All grants and donations made outside the UK E115 -
Other expenditure not included above, or not used in calculating figures
entered on the form CT600		 E120 -
Total of boxes E95 to E120 E125 317,152

For period 01/04/2024 to 31/03/2025

Page 2

IRmark: KFETZ55QP6KC2O25Q3PDM2V6ZABXNFEB

Islington Music Workshop Ltd (UTR: 2347096978) - Prepared by: Quantic Accountancy Limited on 09/12/2025 at 12:36

Information required

Charity/CASC assets

Charity/CASC assets Charity/CASC assets Charity/CASC assets Charity/CASC assets Charity/CASC assets Charity/CASC assets Charity/CASC assets Charity/CASC assets Charity/CASC assets
Disposals in period Held at the end of the period
(total consideration received) (use accounts figures)
Tangible fixed assets E130 - E135 1,234,005
UK investments E140 - E145 -
(excluding controlled companies)
Shares in, and loans to, controlled
companies		 E150 - E155 -
Overseas investments E160 - E165 -
Loans and non-trade debtors E170 -
Other current assets E175 510,521
Qualifying investments and loans E180
Applies to charities only. See CT600 guide
Value of any non-qualifying investments and loans E185 -
Applies to charities only. See CT600 guide
Number of subsidiary or associated companies the charity controls at the end of
the period Exclude companies that were dormant throughout the period		 E190 -
.

For period 01/04/2024 to 31/03/2025

Page 3 

Signatures' technical details

Signatures

stuart@quantic-ac.co.uk

09/12/2025, 15:47:01 GMT

Fingerprint

1e3b0eb9d819b86b1b69f62146126283ff28bafc

wilf.sullivan@gmail.com

11/12/2025, 14:37:41 GMT

Fingerprint

27be87a666246d39eef39875c79015d283bbe0e9

sc99_uk@yahoo.com

11/12/2025, 16:06:47 GMT

Fingerprint

d7eb258536b0e4a57513a8d45deb885a90d2e280

Event log

10.50.10.21609/12/2025, 13:26:13 GMT
Signing request created.
System09/12/2025, 13:26:16 GMT
Notification sent to stuart@quantic-ac.co.uk.
System09/12/2025, 15:46:48 GMT
Signing page opened by signee stuart@quantic-ac.co.uk.
System09/12/2025, 15:47:01 GMT
Signee stuart@quantic-ac.co.uk signed document.
System09/12/2025, 15:47:04 GMT
Notification sent to wilf.sullivan@gmail.com.
System10/12/2025, 09:54:57 GMT
Signing page opened by signee wilf.sullivan@gmail.com.
System10/12/2025, 09:55:02 GMT
Signing page opened by signee wilf.sullivan@gmail.com.
System11/12/2025, 14:35:24 GMT
Signing page opened by signee wilf.sullivan@gmail.com.
System11/12/2025, 14:37:42 GMT
Signee wilf.sullivan@gmail.com signed document.
System11/12/2025, 14:37:44 GMT
Notification sent to sc99_uk@yahoo.com.
System11/12/2025, 16:06:18 GMT
Signing page opened by signee sc99_uk@yahoo.com.
System11/12/2025, 16:06:48 GMT
Signee sc99_uk@yahoo.com signed document.
System11/12/2025, 16:06:48 GMT
Signing process completed.

Summary

Summary
Envelope's ID: 9mn633i7
Document's hash: 963c8cf65373b998180b4caa4832b95c853eded72d4df4a3c81184de0af639c7
Final stamp: 11/12/2025, 16:06:49 GMT

----- Start of picture text -----
Verification QR Code
----- End of picture text -----