Music

Ranked by standing first — what is already true before what is still ahead — then by the finding’s figure as a share of that company’s revenue for the period, largest first. A shortfall or a breach outranks any share.

Never by amount, because the bases behind them are not the same thing measured twice.

Tested: the period for a loss before tax; the thirteen week forecast for a week when cash on its own runs out; every covenant against the limit it was last tested at.

And for this business: statement receipts that could not be matched to a recording; related-party charges against the mark-up policy sets for them.

Six rows at most, in two columns, adverse first: what needs acting on before what needs watching, and a clear row only where a test ran and found nothing. The rest is under Data quality at the foot of the screen, so the face never grows past what a reader can act on in a glance.

The period is a loss · Sixteen Frames Music · 38.0% of revenue for FY 2026-27 to date. Profit before tax for FY 2026-27 to date, on revenue of 1,31,04,632. Open the statements

Statement receipts unmatched · Sixteen Frames Music · 5.9% of everything the statements reported. The largest of 36 statement lines, out of 6499, that could not be matched to a recording and are held unallocated. From Instagram and Facebook, no recording identifier on the statement line. Open the unmatched pool

Recharge with no policy held · Sixteen Frames Music · the charge, which no policy prices. Music and publishing rights sold to the label charged by Sixteen Frames Films carries no mark-up policy, so nothing here can say whether it is charged at arm’s length.

5.9% of receipts unattributed; 3 reasons. One mark a reason the statement loader recorded, against what the register has reported.

6499 statement lines stand for Sixteen Frames Music, 11,73,40,153 net of withholding.

The royalty statements of Sixteen Frames Music. The lines that still stand, once each restatement has displaced the line it names.

A statement line that fails to match an identifier goes to a holding pool rather than to the nearest plausible recording, because allocating on a guess is how one artist is paid another’s royalties.

The reason is what a reader can act on: an identifier the catalogue does not hold is a registration to make or a payment to send back, and a line with no identifier at all is a statement to have reissued. The catalogue screen lists every line under its reason.

Identifier not found in the catalogue — 18 lines, 34,66,089.

Title matched, identifier differs — 9 lines, 17,33,440.

No recording identifier on the statement line — 9 lines, 16,84,305.

Sixteen Frames Music reports on its own cadence: across the four months it reported in these 12 months, revenue is 4 per cent higher than the first of them

INR, the twelve months to Aug 2026.

The monthly summary of Sixteen Frames Music, the twelve months to Aug 2026. Revenue at each month end.

Twelve bars rather than a line: a month’s revenue is a discrete figure and a bar states it, where a line would draw a trend through months that are each their own fact. Each bar opens its month.

Twelve months to Aug 2026, in INR; the reading compares the last of them with the first.

Cost of sales takes 70% of revenue; overhead takes most of what is left

INR lakh, FY 2026-27 to date.

The monthly summary of Sixteen Frames Music, FY 2026-27 to date. Every step opens the month or the months it was added from.

A bridge rather than four tiles: the strip states the subtotals, and the steps between them are where the arithmetic is. Each step opens the month it was read from.

Claims and price protection stand here on the running account, which reads the claim lines; this screen does not, and a read is not added in this phase. Open the running account for the claim pipeline.

Eight steps, FY 2026-27 to date: revenue, cost of sales, gross profit, overhead, EBITDA, depreciation, finance cost and profit before tax, with the add-back drawn where there is one.

No amortisation is added back: every company here charges its depreciation in its own account, outside cost of sales, so gross profit less overhead is EBITDA.

Tested: revenue less cost of sales is gross profit; gross profit less overhead, plus any add-back, is EBITDA; EBITDA less depreciation and finance cost is profit before tax — each within one unit, on every reading.

Sixteen Frames Music ends the year 0.6 points above where it started

Profit before tax as a share of revenue, on the same twelve months. A margin is a ratio, and every ratio in this application is computed where the ledger is rather than in the browser.

The ratio definitions of Sixteen Frames Music, the twelve months to Aug 2026. Net margin at each month end.

Stock by age stands here on the running account, which reads the stock positions; this screen does not, and a read is not added in this phase. Open the running account for the stock by age.

Four months to Aug 2026; no below break-even. The reading compares the last month with the first.

Sixteen Frames Music closes the year 69 per cent above the cash it opened with

INR, the twelve months to Aug 2026. Each point is the balance at that month end; nothing here is added.

The monthly summary of Sixteen Frames Music, the twelve months to Aug 2026. Cash at each month end.

Sell-in against sell-out stands here on the running account, which reads the channel movements; this screen does not, and a read is not added in this phase. Open the running account for channel cover.

Twelve month ends to Aug 2026, in INR; the lowest 5,21,97,442 at Sept 2025. The reading compares the last balance with the first.

Days, as at 31 Aug 2026. Receivable and stock days above the line, payable days beneath it. Days compare across currencies where an amount does not, which is why these companies stand beside one another here and no chart on this screen sets their revenue side by side.

The heavy rule across each bar is the cycle.

The heavy rule across each bar is the cash conversion cycle as the ratio definitions states it, and not the three segments added up here.

Sixteen Frames Music posted no revenue in Aug 2026. It is not drawn: a day count on a month with no revenue is arithmetic, not a fact.

The ratio definitions, Aug 2026. Every figure is computed where the ledger is. A cycle is stated by the view and never added up on this screen, so a disagreement between the rule and the segments under it is visible rather than averaged away.

Three legs and a rule: receivable and stock days above the line, payable days beneath it, and the cycle drawn across each bar as the ratio definitions state it rather than as the three added up here, so a disagreement between the rule and the segments shows on the drawing. Days compare across currencies where an amount does not.

No companies as at 31 Aug 2026: .

Sixteen Frames Music posted no revenue in Aug 2026. It is not drawn: a day count on a month with no revenue is arithmetic, not a fact.

Committed facilities, as last tested. The rule is the limit.

Each covenant against the limit its own facility agreement sets, as last tested. Committed facilities only: an uncommitted line is not liquidity but a hope, so headroom measured against one is not headroom. Every row is on its own scale — a leverage multiple and an interest cover are not the same measure and do not share an axis.

The facility agreements, Aug 2026. The figure, the limit and the comparison between them are the agreement’s own, as the lender last tested it. Nothing here re-measures a covenant against the ledger: the two would disagree, and the one that matters is the one the lender used. The thresholds themselves are assumed — the facility agreements are not held.

A bullet a covenant, each on its own scale: a leverage multiple and an interest cover are different measures and do not share an axis. Committed facilities only, because headroom against a line a lender may decline is not headroom. The limit is the dashed rule, and a bar that crosses it is drawn in the signal ink.

No covenant with a figure and a limit.

Every covenant on a committed facility carries a figure and a limit.

Tested: each covenant’s figure against its limit on the side its operator names — a floor is breached from below, a ceiling from above.

Cash stays above nought in all 13 weeks; the low point is week 1

INR lakh, from 31 Aug 2026.

Closing cash at the end of each week, in INR lakh, from 31 Aug 2026. Thirteen weeks, which is the horizon the forecast is built to. The undrawn committed facility is the figure in the foot, as the forecast states it; no band is drawn above the bars.

The bars are the 13 weekly closes against nought, in the signal ink where the cash is below it; the opening and the closing figures stand on the ends and each opens its week.

The cash runway of Sixteen Frames Music, read from Tally Prime. The closing balance is the view’s own running total — opening cash plus every week to this one — and nothing on this screen accumulates it a second time. The headroom above the line is committed facility only, and the view states that sum too.

Bars against nought rather than a line: the finding is the week the cash goes under, and a bar below the line says it where a line crossing it has to be read. The committed headroom is the figure in the foot rather than a band above the bars, so the bars keep their own scale.

13 weeks from 31 Aug 2026, in INR lakh; committed facility undrawn 1,50,00,000 INR. Tested: the first week cash on its own goes below nought, and the low point as a share of the opening balance.