PROPER MUSIC DISTRIBUTION LIMITED
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Cash
£1.6m
-20.7% vs 2024
Net assets
-£2.8m
-13.6% lowest in 6 filed years
Employees
112
-17.6% lowest in 6 filed years
Profit before tax
-£336k
+81% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
The company continues to rely on financial support from its ultimate parent company. The director has been assured that any additional funding needs of the company will be provided... Based on these assessments... the director has concluded it is appropriate to continue to adopt the going concern basis
-
1 PSC ceased in last 24 months
Significant control changed hands — see the Ownership section.
-
Going-concern uncertainty disclosed
-
Negative shareholders' funds
Net assets
6-year trend · vs Consumer Discretionary median
Accounts
6-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2021-03-31 | 2022-03-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|---|---|---|
| Turnover | £37,977,401 | £42,045,203 | £30,064,564 | £45,796,265 | £45,036,589 | £33,070,981 | -26.6% | |
| Operating profit | -£34,585 | -£895,815 | -£1,724,796 | -£1,100,214 | -£1,621,024 | -£163,649 | +89.9% | |
| Profit before tax | -£101,370 | £336,655 | -£1,730,223 | -£1,216,243 | -£1,763,278 | -£335,540 | +81% | |
| Net profit | -£57,591 | £305,055 | -£1,732,093 | -£1,233,443 | -£1,760,378 | -£332,440 | +81.1% | |
| Cash | £1,296,100 | £891,271 | £1,810,496 | £2,968,326 | £1,957,325 | £1,551,557 | -20.7% | |
| Total assets less current liabilities | £118,069 | £349,299 | £597,075 | -£567,203 | -£2,347,499 | £166,541 | +107.1% | |
| Net assets | -£6,925 | £298,130 | £549,951 | -£683,492 | -£2,443,870 | -£2,776,310 | -13.6% | |
| Equity | -£6,925 | £298,130 | £549,951 | -£683,492 | -£2,443,870 | -£2,776,310 | -13.6% | |
| Average employees | 122 | 113 | 130 | 142 | 136 | 112 | -17.6% | |
| Wages | £3,234,726 | £3,644,740 | £3,299,779 | £4,892,907 | £5,292,721 | £4,804,626 | -9.2% | |
| Directors' remuneration | £104,167 | £102,515 | £126,105 | £194,500 | £231,750 | £231,750 | 0% | |
| Directors' pension contributions | — | — | — | £1,316 | £6,750 | £6,750 | 0% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2021-03-31 | 2022-03-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|---|---|---|
| Operating margin | -0.1% | -2.1% | -5.7% | -2.4% | -3.6% | -0.5% | |
| Net margin | -0.2% | 0.7% | -5.8% | -2.7% | -3.9% | -1.0% | |
| Return on capital employed | -29.3% | -256.5% | -288.9% | — | — | -98.3% | |
| Gearing (liabilities / total assets) | 100.1% | 97.4% | 95.7% | 104.1% | 116.4% | 126.4% | |
| Current ratio | — | — | — | 0.86x | 0.76x | 0.83x | |
| Interest cover | -0.52x | -23.49x | — | -9.48x | -11.40x | -0.95x |
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.
Name history
Renamed 2 times since incorporation
- PROPER MUSIC DISTRIBUTION LIMITED 2000-01-19 → present
- CEE DEE SALES LIMITED 1993-05-24 → 2000-01-19
- BEATCHOICE COMMERCIAL LIMITED 1993-04-07 → 1993-05-24
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Sumer Audit
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“The company continues to rely on financial support from its ultimate parent company. The director has been assured that any additional funding needs of the company will be provided... Based on these assessments... the director has concluded it is appropriate to continue to adopt the going concern basis”
Group structure
- PROPER MUSIC DISTRIBUTION LIMITED · parent
- Navigator Records Limited 100%
- Proper Note Limited 100%
Significant events
- “During the financial year, the ultimate parent company changed from Utopia Music AG (Switzerland) to Artone Holding B.V.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
1 active · 21 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| HILL, Andrew Steven | Director | 2012-08-21 | Oct 1977 | British |
Show 21 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| JONES, Rachel Rebecca | Secretary | 1994-10-31 | 1996-01-19 |
| MILLS, Miriam Bernadette Brigid | Secretary | 1996-01-19 | 2022-02-15 |
| MILLS, Miriam Bernadette Brigid | Secretary | 1993-05-14 | 1994-10-31 |
| ALPHA SECRETARIAL LIMITED | Corporate Nominee Secretary | 1993-04-07 | 1993-05-14 |
| ENGLE, Anton Louis | Director | 2000-03-01 | 2012-10-31 |
| GLOCKLER, John Richard | Director | 1997-05-01 | 2014-04-01 |
| HARDING, Philip Reginald | Director | 1997-05-01 | 2001-11-19 |
| HARRIES, Gary Roy | Director | 2007-09-18 | 2008-11-01 |
| HILL, Andrew Steven | Director | 2009-04-28 | 2011-07-01 |
| HUTCHISON, Robert John | Director | 2007-09-18 | 2012-10-16 |
| JONES, Graham Kenneth | Director | 1997-05-01 | 2007-04-01 |
| JONES, Graham | Director | 1994-10-31 | 1996-01-19 |
| KERSLEY, Stephen | Director | 2003-05-31 | 2012-08-10 |
| MATTHEWS, Steven John | Director | 2007-09-18 | 2008-11-01 |
| MILLS, Malcolm Stuart | Director | 2013-03-31 | 2022-02-15 |
| MILLS, Malcolm Stuart | Director | 1996-01-19 | 2011-07-01 |
| MILLS, Malcolm Stuart | Director | 1993-05-14 | 1994-10-31 |
| PORTER, Richard | Director | 2000-03-01 | 2002-11-05 |
| SANNITZ, Giulio Bruno Guglielmo Leo | Director | 2022-02-15 | 2022-11-28 |
| VIDAL, Bastien Louis Albert | Director | 2023-03-30 | 2023-04-19 |
| ALPHA DIRECT LIMITED | Corporate Nominee Director | 1993-04-07 | 1993-05-14 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Artone Holdings Ii Ltd | Corporate entity | Shares 75–100%, Voting 75–100% | 2025-02-28 | Active |
| Proper Music Group Limited | Corporate entity | Shares 75–100% | 2016-04-06 | Ceased 2025-02-28 |
Filing timeline
Last 20 of 152 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-22 | AA | accounts | Accounts with accounts type full | |
| 2025-12-22 | AA | accounts | Accounts with accounts type full | |
| 2025-12-22 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-04-01 | AA | accounts | Accounts with accounts type full | |
| 2025-02-28 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2025-02-28 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2024-12-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-12-13 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-07-19 | AA | accounts | Accounts with accounts type full | |
| 2023-04-27 | TM01 | officers | Termination director company with name termination date | |
| 2023-04-04 | AA01 | accounts | Change account reference date company previous shortened | |
| 2023-03-31 | AA | accounts | Accounts with accounts type full | |
| 2023-03-31 | AP01 | officers | Appoint person director company with name date | |
| 2023-02-09 | CH01 | officers | Change person director company with change date | |
| 2022-12-29 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-12-01 | TM01 | officers | Termination director company with name termination date | |
| 2022-08-01 | CH01 | officers | Change person director company with change date | |
| 2022-02-16 | AP01 | officers | Appoint person director company with name date | |
| 2022-02-16 | TM01 | officers | Termination director company with name termination date | |
| 2022-02-16 | TM02 | officers | Termination secretary company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 3
- Capital events
- 0
- 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.