But the record company bigwigs were not industry players – but students from Brighouse High School.

The Year 10 pupils are the first in the country to take part in a pilot 10-week programme to set up and manage their own mini-music enterprise.

About 50 students have formed five companies – including Retroelectro artist management, Cookie Monster Records, Satten Records music publisher and two promotions companies, Aspect and Initiative – which will interact with one another and the local community during the coming weeks.

They are busy scouting bands and songwriters from within the school to sign contracts with the record label, and will produce and promote CDs and hold gigs.

They are also marketing local music online and learning about intellectual copyright and responsible downloading.

The companies have negotiated contracts, sold shares to raise capital, and have board meetings each week to report on progress.

The programme contains a mix of seminars and practical work, and the lessons – covering topics like marketing, music royalties and intellectual property – are being delivered by insiders from the music industry.

Richard Hanson, head of music at Brighouse High, said: "Everyone involved is really looking forward to learning about the ins and outs of the industry and having fun along the way."

The course, called Quick Start Music, was designed by the business education charity Young Enterprise, in association with British Music Rights, Sony and Edge.

Claire Rogerson, of Young Enterprise, said: "The great thing about this programme is that the responsibility for learning is shifted on to the students.

"There are some lessons, but it's the work the students will be putting in within their mini-companies that will really help develop their knowledge and skills."

Future plans include creating merchandise and going on tour.

Mr Hanson said: "It is very exciting. The students have taken to it really well and got into the spirit of it."