XL RECORDINGS LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-11-29 (in 6mo)
Last made up 2025-11-15
Watchouts
None on the register
Cash
£30M
+36% vs 2023
Net assets
£54M
+1.8% vs 2023
Employees
28
-12.5% vs 2023
Profit before tax
£15M
+40.1% vs 2023
Name history
Renamed 2 times since incorporation
- XL RECORDINGS LIMITED 1996-04-17 → present
- HERO MUSIC LIMITED 1995-12-15 → 1996-04-17
- SPEED 5198 LIMITED 1995-11-15 → 1995-12-15
Net assets
2-year trend · vs Consumer Discretionary median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £55,220,015 | £62,863,724 | |
| Operating profit | £9,663,196 | £12,755,404 | |
| Profit before tax | £10,471,193 | £14,666,127 | |
| Net profit | £7,973,891 | £10,962,407 | |
| Cash | £22,363,816 | £30,404,553 | |
| Total assets less current liabilities | £53,641,378 | £54,613,629 | |
| Net assets | £53,515,623 | £54,478,030 | |
| Equity | £53,515,623 | £54,478,030 | |
| Average employees | 32 | 28 | |
| Wages | £2,625,673 | £2,424,721 |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | 17.5% | 20.3% | |
| Net margin | 14.4% | 17.4% | |
| Return on capital employed | 18.0% | 23.4% | |
| Current ratio | 4.12x | 3.72x | |
| Interest cover | — | 1289.99x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- SRLV Audit Limited
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. We have not identified any material uncertainties relating to events or conditions that may cast significant doubt on the company's ability to continue as a going concern.”
Group structure
- XL RECORDINGS LIMITED · parent
- XL Recordings, Inc 100%
- Beggars Catalogues LLP 100%
- Beggars Music Limited 100%
- 4AD Songs Limited 87.5%
- Young Music Publishing Limited 100%
- Young Recordings Limited 51%
- Young Space Ltd 89%
- New Young Space Ltd 36%
- Mowax Labels Limited 50%
- Rough Trade Retail Holdings Limited 34%
- Rough Trade Retail (UK) Limited 34%
- Rough Trade Retail (USA) Holdings, Inc. 37%
- Rough Trade Retail LLC 29%
- Rise Bristol Ltd 34%
- Rough Trade Retail Germany GmbH 27%
Significant events
- “On 7 April 2025, dividends totalling £8,000,000 have been declared by the company to the shareholders.”
- “On 1 October 2024, the company acquired 5 ordinary shares in Young Recordings Limited, increasing its shareholding to 51%.”
- “On 25 October 2024, the company acquired the remaining 10% share of Beggars Catalogues LLP, making it the sole member.”
- “Subsequent to the balance sheet date, on 1 July 2025, Beggars Catalogues LLP was dissolved via voluntary strike-off.”
- “On 25 October 2024, the company acquired the remaining 30 ordinary shares in Beggars Music Limited, increasing its shareholding to 100%.”
- “On 24 January 2024, an additional 186 shares were issued to other shareholders in Rough Trade Retail Holdings Ltd., diluting the company's shareholding to 34.26%.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 6 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| EBBETT, Neela | Secretary | 2014-06-06 | — | — |
| BEARDSWORTH, Ben Scott | Director | 2013-12-04 | Jun 1974 | British |
| EBBETT, Neela | Director | 2024-10-21 | Sep 1967 | British |
| MILLS, Martin Charles | Director | 1996-04-01 | May 1949 | British |
| REDDING, Paul Michael | Director | 2013-12-04 | Sep 1965 | British |
| RUSSELL, Richard | Director | 1995-11-21 | Mar 1971 | British |
Show 6 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BOLT, Nigel Peter | Secretary | 1996-04-01 | 2013-12-04 |
| HAL MANAGEMENT LIMITED | Corporate Secretary | 1995-11-21 | 1996-04-01 |
| WATERLOW SECRETARIES LIMITED | Corporate Nominee Secretary | 1995-11-15 | 1995-11-21 |
| WORTHINGTON, Nicholas | Director | 1999-05-24 | 2001-06-30 |
| WYLLIE, Ewen James | Director | 1996-04-01 | 2006-09-19 |
| WATERLOW NOMINEES LIMITED | Corporate Nominee Director | 1995-11-15 | 1995-11-21 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Richard Russell | Individual | Shares 25–50% | 2016-11-15 | Active |
| Beggars Group Limited | Corporate entity | Shares 50–75%, Voting 50–75%, Appoints directors | 2016-11-15 | Active |
Filing timeline
Last 20 of 119 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-11-28 MA Memorandum articles
- 2024-11-20 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-12-16 | AA | accounts | Accounts with accounts type full | |
| 2025-11-27 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-11-28 | MA | incorporation | Memorandum articles | |
| 2024-11-27 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-11-27 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2024-11-20 | RESOLUTIONS | resolution | Resolution | |
| 2024-11-13 | SH08 | capital | Capital name of class of shares | |
| 2024-11-06 | AP01 | officers | Appoint person director company with name date | |
| 2024-10-09 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2024-10-03 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2024-08-25 | AA | accounts | Accounts with accounts type group | |
| 2023-11-15 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-08-14 | AA | accounts | Accounts with accounts type group | |
| 2022-11-15 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-08-16 | AA | accounts | Accounts with accounts type group | |
| 2021-11-18 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2021-11-15 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-09-30 | AA | accounts | Accounts with accounts type group | |
| 2021-03-24 | CH01 | officers | Change person director company with change date | |
| 2020-11-17 | CS01 | confirmation-statement | Confirmation statement with no updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 2
- Capital events
- 1
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
+13.8%
£55,220,015 £62,863,724
-
Cash
+36%
£22,363,816 £30,404,553
-
Net assets
+1.8%
£53,515,623 £54,478,030
-
Employees
-12.5%
32 28
-
Operating profit
+32%
£9,663,196 £12,755,404
-
Profit before tax
+40.1%
£10,471,193 £14,666,127
-
Wages
-7.7%
£2,625,673 £2,424,721
Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers