Caseware UK (AP4) 2021.0.152 2021.0.152 2022-03-312022-03-31false22021-04-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2truetrue 01522908 2021-04-01 2022-03-31 01522908 2020-04-01 2021-03-31 01522908 2022-03-31 01522908 2021-03-31 01522908 c:Director1 2021-04-01 2022-03-31 01522908 d:CurrentFinancialInstruments 2022-03-31 01522908 d:CurrentFinancialInstruments 2021-03-31 01522908 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 01522908 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 01522908 d:ShareCapital 2022-03-31 01522908 d:ShareCapital 2021-03-31 01522908 d:RetainedEarningsAccumulatedLosses 2022-03-31 01522908 d:RetainedEarningsAccumulatedLosses 2021-03-31 01522908 c:OrdinaryShareClass1 2021-04-01 2022-03-31 01522908 c:OrdinaryShareClass1 2022-03-31 01522908 c:OrdinaryShareClass1 2021-03-31 01522908 c:FRS102 2021-04-01 2022-03-31 01522908 c:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 01522908 c:FullAccounts 2021-04-01 2022-03-31 01522908 c:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 01522908 2 2021-04-01 2022-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 01522908














NEUTRON RECORDS LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

 
NEUTRON RECORDS LIMITED
REGISTERED NUMBER:01522908

BALANCE SHEET
AS AT 31 MARCH 2022

2022
2021
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
300
300

Cash at bank
 5 
47,240
51,692

  
47,540
51,992

Creditors: amounts falling due within one year
 6 
(29,798)
(31,513)

Net current assets
  
 
 
17,742
 
 
20,479

Total assets less current liabilities
  
17,742
20,479

  

Net assets
  
17,742
20,479


Capital and reserves
  

Called up share capital 
 7 
102
102

Profit and loss account
  
17,640
20,377

  
17,742
20,479


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 profit and loss account 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: 




M D Fry
Director

Date: 22 June 2022

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

Page 1

 
NEUTRON RECORDS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1.


General information

Neutron Records Limited is a private company, limited by shares, registered in England and Wales, registration number 01522908. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
The principal activity of the company continued to be that of music production and live performance.
 
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 the Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

  
2.2

Functional and presentational currency

The company's functional and presentational currency is pound sterling.

 
2.3

Going concern

The directors are assessing, on a daily basis, the impact of the significant uncertainty arising from the COVID-19 virus. Whilst the directors appreciate there is significant uncertainty surrounding the future economic climate and is expecting a slowdown, at the period end and as at the date of signature of the financial statements, the company’s activities remain positive with limited ongoing exposure. The directors are satisfied that the company will be able to satisfy its financial obligations for at least 12 months from the date of signature of the financial statements, which have been prepared on the going concern basis.

 
2.4

Turnover

Turnover from music production and live performance is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

  
2.5

Royalties

(i) Royalties receivable are recognised at the period end date by the company.
 
(ii) Royalties payable are calculated by reference to statements of account used for determining royalties receivable.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.7

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.8

Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors.

Page 2

 
NEUTRON RECORDS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.9

Creditors

Short-term creditors are measured at the transaction price. 

 
2.10

 Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.11

 Interest income

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

 
2.12

 Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).


4.


Debtors

2022
2021
£
£


Prepayments
300
300



5.


Cash

2022
2021
£
£

Cash at bank
47,240
51,692


Page 3

 
NEUTRON RECORDS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

6.


Creditors: amounts falling due within one year

2022
2021
£
£

Trade creditors
4,999
3,271

Corporation tax
4,753
5,526

Other taxation and social security
6,455
7,576

Accruals and deferred income
13,591
15,140

29,798
31,513



7.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



102 (2021 - 102) Ordinary shares of £1.00 each
102
102


 
Page 4