Caseware UK (AP4) 2021.0.152 2021.0.152 2021-09-302021-09-302020-10-01true1No description of principal activityfalse2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09776263 2020-10-01 2021-09-30 09776263 2019-10-01 2020-09-30 09776263 2021-09-30 09776263 2020-09-30 09776263 c:Director1 2020-10-01 2021-09-30 09776263 d:CurrentFinancialInstruments 2021-09-30 09776263 d:CurrentFinancialInstruments 2020-09-30 09776263 d:CurrentFinancialInstruments d:WithinOneYear 2021-09-30 09776263 d:CurrentFinancialInstruments d:WithinOneYear 2020-09-30 09776263 d:ShareCapital 2021-09-30 09776263 d:ShareCapital 2020-09-30 09776263 d:RetainedEarningsAccumulatedLosses 2021-09-30 09776263 d:RetainedEarningsAccumulatedLosses 2020-09-30 09776263 c:FRS102 2020-10-01 2021-09-30 09776263 c:AuditExempt-NoAccountantsReport 2020-10-01 2021-09-30 09776263 c:FullAccounts 2020-10-01 2021-09-30 09776263 c:PrivateLimitedCompanyLtd 2020-10-01 2021-09-30 09776263 2 2020-10-01 2021-09-30 iso4217:GBP xbrli:pure

Registered number: 09776263









EK OK LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2021

 
EK OK LTD
REGISTERED NUMBER: 09776263

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2021

2021
2020
Note
£
£

  

Current assets
  

Stocks
  
-
470

Debtors: amounts falling due within one year
 4 
2,160
12,225

Cash at bank and in hand
  
25,069
1,735

  
27,229
14,430

Creditors: amounts falling due within one year
 5 
(24,224)
(16,908)

Net current assets/(liabilities)
  
 
 
3,005
 
 
(2,478)

  

Net assets/(liabilities)
  
3,005
(2,478)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
2,905
(2,578)

  
3,005
(2,478)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



J Reid
Director

Date: 12 September 2022

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
EK OK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

1.


General information

The principal activity of the company is that of music recording and publishing.
The company is a private company limited by shares and is incorporated in England.
The address of its registered office is 35 Ballards Lane, London N3 1XW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 2

 
EK OK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

2.Accounting policies (continued)

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to and from related parties.
(i) Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are
Page 3

 
EK OK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

2.Accounting policies (continued)


2.6
Financial instruments (continued)

recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2020 - 2).


4.


Debtors

2021
2020
£
£


Trade debtors
627
-

Other debtors
1,533
3,769

Prepayments and accrued income
-
8,456

2,160
12,225



5.


Creditors: Amounts falling due within one year

2021
2020
£
£

Other taxation and social security
107
111

Other creditors
15,797
15,797

Accruals and deferred income
8,320
1,000

24,224
16,908


 
Page 4