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Songbits Limited

13838925

active
Private Limited Company
Companies House
Health Score
70 / 100

Some Concerns

30/30
Filing
0/30
Financial
40/40
Risk
  • Negative net worth (-10)
  • Going concern doubt noted in accounts (-10)

Details

LEVEL 3, LONDON, W1B 3HH
Incorporated 10/01/2022

Compliance

Accounts

Up to date

Confirmation statement

Up to date

Industry

58290
Other software publishing
59200
Sound recording and music publishing activities

Officers

Mr Russell Stephen John Sheffield

director · Since 10/01/2022

DIRECTOR

ENGLISH · ENGLAND · Age 62

Also on 5 other boards

Dr Alastair Philip Moore

director · Since 12/12/2022

COMPANY DIRECTOR

BRITISH · ENGLAND · Age 46

Also on 5 other boards

Justin Sheffield

director · Since 12/12/2022

DIRECTOR

BRITISH · UNITED KINGDOM · Age 56

Mr Ciaran Oliver O'Donnell

director · Since 30/05/2024

FINANCIAL DIRECTOR

IRISH · ENGLAND · Age 51

Also on 2 other boards

Persons with Significant Control

Former PSCs

Mr Russell Stephen John Sheffield

Ceased 30/10/2022

CompanyRankvs 5044+ SIC 58290 peers
26

Financial strength2th percentile among SIC peers · 1/25
Employees92th percentile among SIC peers · 14/15
LiquidityCurrent ratio 0.12× · 2/20
Longevity4 years trading (max 15) · 4/15
Filing complianceAll filings up to date · 15/15
Going concern doubt -10
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5044Songbits Limited
36
How is this score calculated?
Financial strength1/25 pts

Net worth compared to all companies in the same SIC code with published accounts. Top quartile earns the full 25 points.

Employees14/15 pts

Workforce size relative to sector peers from the most recent accounts. A larger team generally signals commercial scale.

Liquidity2/20 pts

Current assets ÷ current liabilities. A ratio above 2× earns full marks; between 1–2× scores partially; below 0.5× scores minimal points.

Longevity4/15 pts

One point per year of operation since incorporation, capped at 15. Older companies have a proven track record.

Filing compliance15/15 pts

Full 15 points when both annual accounts and confirmation statement are filed on time. Points are deducted for each overdue filing.

Risk deductions

Going concern doubt: -10 pts

Maximum score is 100. Deductions apply for insolvency history, outstanding charges, going concern doubt, or disqualified officers.

Going Concern Doubt

with the carrying amount and are recognised in profit or loss. Page 4 SONGBITS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1. Accounting policies (continued) 1.6 Going concern The financial statements have been prepared on a going concern basis. The directors have assessed the company’s ability to continue as a going concern and are satisfied that it is approp

Key FinancialsYear ending 31/12/2024

Net Worth

-£533k

Balance sheet strength

Cash

£61k

Cash in the bank

Net Current Assets

-£536k

Working capital

Current Assets

£70k

Current Liabilities

£605k

Fixed Assets

£2k

Debtors

£9k

5avg. employees+2

Balance Sheet

Assets less current liabilities-£533k
Prepared with Caseware UK (AP4) 2024.0.164

EstimatesDerived

YearCurrent RatioImplied Profit
20240.12+£125k
20230.20—

Derived from filed accounts. Not audited figures.