I think you may have answered your own question.
I'm no accountant either, but the PRS for Music's accounts makes simple sense to me. I'm not even sure where you are getting the "net profit" reference since this term isn't mentioned in the PRS for Music's main company accounts. The report talks about money coming in, income, and then money going out, money paid to artists/publishers (roughly 84% of income), with the remaining 16% going to admin/running costs. Simply put, PRS collect money for artists/publishers, and pass most of that money (84%) on to those artists/publishers, at an operating expense of (16%) (2009 figures).
That's my non-accountant layman's terms explanation. Perhaps an accountant here might be able to provide an explanation in more official accounting terms, although to the layman (like us) the layman explanation might be easier to understand. I hope that helps.
Fair enough, as I said, im no accountant :redface:
The details were pulled from companies house data.
As said before, I've got no beef with anyone being paid for any amount of time for their work to be used, would love to be in that position, the only issues I have in this discussion is over the charging for radio listening, charging small companies for the same and the disgusting way PPL gather their 'data' then issue an invoice at the same time as copying it to a debt collector.
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