PIAS RECORDINGS UK LIMITED

• ◆

  3 PSCs ceased in last 24 months

  Significant control changed hands — see the Ownership section.

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

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.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

S&W Audit

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“On the basis of the above, the directors have produced formal cash flow forecasts for the UK group to the end of 2025 and considered the cash flows required during 2026, which demonstrate that there are sufficient cash resources available to the Company to ensure they can meet their financial obligations as they fall due for the foreseeable future, this being the period covering at least twelve months from the date of approval of these financial statements.”

Significant events

• “Total turnover increased by 0.2% to £45.5m (2023 - £45.4m). The turnover remains driven by new artist signings and the repertoire licensed from Universal Music as part of the strategic alliance.”
• “The Company's Operating Result was affected by increased costs in stock obsolescence and provisions on artists' advances together with a debt provision in respect of [PIAS] France which resulted in the operating loss of £2,824,254 compared to a profit of £695,946 in 2023.”
• “The Company is facing continuing challenges with regards to its physical sales with the rise of costs impacting on the overall costs of warehousing & distribution together with manufacturing costs remaining high.”
• “The Company will continue with the same business activities going forwards, whilst looking for new artists to add to the existing portfolio.”
• “At the beginning of the year the ultimate parent undertaking was Gala Holding SRL, a company registered in Belgium. On 28 October 2024 the group were acquired by the Universal Music Group. From this date the ultimate parent undertaking was Universal Music Group N.V, a company registered in Netherlands.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

6

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +0.2%

  £45,443,296 → £45,537,215

• Cash

  -0.1%

  £2,759 → £2,757

• Net assets

  -4.9%

  £55,757,303 → £53,012,088

  first positive since 2022

• Employees

  +3%

  33 → 34

• Operating profit

  -505.8%

  £695,946 → -£2,824,254

  lowest in 3 filed years

• Profit before tax

  -3,114.7%

  £111,578 → -£3,363,783

  lowest in 3 filed years

• Wages

  +29.7%

  £1,326,552 → £1,721,003

  highest in 3 filed years

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers