Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31Media representation services2022-04-01false63truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08365931 2022-04-01 2023-03-31 08365931 2021-04-01 2022-03-31 08365931 2023-03-31 08365931 2022-03-31 08365931 c:Director1 2022-04-01 2023-03-31 08365931 d:OfficeEquipment 2022-04-01 2023-03-31 08365931 d:OfficeEquipment 2023-03-31 08365931 d:OfficeEquipment 2022-03-31 08365931 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08365931 d:ComputerEquipment 2022-04-01 2023-03-31 08365931 d:ComputerEquipment 2023-03-31 08365931 d:ComputerEquipment 2022-03-31 08365931 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08365931 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08365931 d:Goodwill 2023-03-31 08365931 d:Goodwill 2022-03-31 08365931 d:CurrentFinancialInstruments 2023-03-31 08365931 d:CurrentFinancialInstruments 2022-03-31 08365931 d:Non-currentFinancialInstruments 2023-03-31 08365931 d:Non-currentFinancialInstruments 2022-03-31 08365931 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08365931 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 08365931 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 08365931 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 08365931 d:ShareCapital 2023-03-31 08365931 d:ShareCapital 2022-03-31 08365931 d:RetainedEarningsAccumulatedLosses 2023-03-31 08365931 d:RetainedEarningsAccumulatedLosses 2022-03-31 08365931 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 08365931 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 08365931 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 08365931 d:TaxLossesCarry-forwardsDeferredTax 2022-03-31 08365931 c:OrdinaryShareClass1 2022-04-01 2023-03-31 08365931 c:OrdinaryShareClass1 2023-03-31 08365931 c:OrdinaryShareClass1 2022-03-31 08365931 c:FRS102 2022-04-01 2023-03-31 08365931 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 08365931 c:FullAccounts 2022-04-01 2023-03-31 08365931 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08365931 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 08365931









UTC ARTIST MANAGEMENT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
UTC ARTIST MANAGEMENT LIMITED
REGISTERED NUMBER: 08365931

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Tangible assets
 5 
3,477
1,540

  
3,477
1,540

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 6 
132,791
31,064

Cash at bank and in hand
  
288,291
298,235

  
421,082
329,299

Creditors: amounts falling due within one year
 7 
(211,165)
(198,582)

NET CURRENT ASSETS
  
 
 
209,917
 
 
130,717

TOTAL ASSETS LESS CURRENT LIABILITIES
  
213,394
132,257

Creditors: amounts falling due after more than one year
 8 
(15,128)
(27,309)

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(834)
-

  
 
 
(834)
 
 
-

NET ASSETS
  
197,432
104,948


CAPITAL AND RESERVES
  

Called up share capital 
 10 
10,000
10,000

Profit and loss account
  
187,432
94,948

  
197,432
104,948


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.
 
Page 1

 
UTC ARTIST MANAGEMENT LIMITED
REGISTERED NUMBER: 08365931
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023


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: 






David Geli
Director

Date: 10 November 2023

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
UTC ARTIST MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


GENERAL INFORMATION

UTC Artist Management Limited is a private company, limited by shares and incorporated in England & Wales. Its registered office address is  Unit 501a Level 5, Peckham Levels, 95A Rye Lane, London SE15 4ST.
The Company's functional and presentational currency is GBP. 

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

TURNOVER

Turnover comprises sales of media and photographic activities.
Turnover 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.

 
2.3

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

INTEREST INCOME

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

 
2.5

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
UTC ARTIST MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.7

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. 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 income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
UTC ARTIST MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.ACCOUNTING POLICIES (CONTINUED)


2.10
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%
straight-line
Computer equipment
-
25%
straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

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.

 
2.13

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

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.


3.


EMPLOYEES

The average monthly number of employees during the year was 6 (2022 - 3).

Page 5

 
UTC ARTIST MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


INTANGIBLE ASSETS




Goodwill

£



COST


At 1 April 2022
10,000



At 31 March 2023

10,000



AMORTISATION


At 1 April 2022
10,000



At 31 March 2023

10,000



NET BOOK VALUE



At 31 March 2023
-



At 31 March 2022
-



Page 6

 
UTC ARTIST MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


TANGIBLE FIXED ASSETS





Office equipment
Computer equipment
Total

£
£
£



COST OR VALUATION


At 1 April 2022
4,257
2,217
6,474


Additions
1,259
1,873
3,132



At 31 March 2023

5,516
4,090
9,606



DEPRECIATION


At 1 April 2022
2,717
2,217
4,934


Charge for the year on owned assets
1,078
117
1,195



At 31 March 2023

3,795
2,334
6,129



NET BOOK VALUE



At 31 March 2023
1,721
1,756
3,477



At 31 March 2022
1,540
-
1,540


6.


DEBTORS

2023
2022
£
£


Trade debtors
4,224
3,167

Other debtors
126,127
27,537

Prepayments and accrued income
2,440
360

132,791
31,064


Included within other debtors are loans of £16,339 owing to the Company from the directors. Loans are interest free and repayable on demand. 

Page 7

 
UTC ARTIST MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Bank overdrafts
4
23

Bank loans
6,455
-

Trade creditors
1,547
8,416

Corporation tax
67,089
79,172

Other taxation and social security
27,068
24,269

Other creditors
106,877
85,313

Accruals
2,125
1,389

211,165
198,582


Bank loans represent a government backed 'Bounce Back Loan' . The loan is 100% guaranteed by the government and there were no fees or interest payable during the first 12 months. After this initial 12 months period, interest was charged at a fixed rate of 2.5% per annum. 
Other creditors include contributions of £332 (2022 - £148) payable to the Company's defined contribution pension scheme at the balance sheet date.


8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023
2022
£
£

Bank loans
15,128
27,309

15,128
27,309


Bank loans represent a government backed 'Bounce Back Loan' . The loan is 100% guaranteed by the government and there were no fees or interest payable during the first 12 months. After this initial 12 months period, interest was charged at a fixed rate of 2.5% per annum. 

Page 8

 
UTC ARTIST MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


DEFERRED TAXATION




2023


£






Charged to profit or loss
(834)



AT END OF YEAR
(834)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(869)
-

Short term timing differences
35
-

(834)
-


10.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



10,000 (2022 - 10,000) Ordinary shares of £1.00 each
10,000
10,000


 
Page 9