Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-3172022-04-01falsePromoters and distributors of songs and artists in the music industry.6truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02084195 2022-04-01 2023-03-31 02084195 2021-04-01 2022-03-31 02084195 2023-03-31 02084195 2022-03-31 02084195 c:Director1 2022-04-01 2023-03-31 02084195 d:Buildings 2022-04-01 2023-03-31 02084195 d:Buildings 2023-03-31 02084195 d:Buildings 2022-03-31 02084195 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 02084195 d:Buildings d:LongLeaseholdAssets 2022-04-01 2023-03-31 02084195 d:Buildings d:LongLeaseholdAssets 2023-03-31 02084195 d:Buildings d:LongLeaseholdAssets 2022-03-31 02084195 d:PlantMachinery 2022-04-01 2023-03-31 02084195 d:PlantMachinery 2023-03-31 02084195 d:PlantMachinery 2022-03-31 02084195 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 02084195 d:MotorVehicles 2022-04-01 2023-03-31 02084195 d:MotorVehicles 2023-03-31 02084195 d:MotorVehicles 2022-03-31 02084195 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 02084195 d:FurnitureFittings 2022-04-01 2023-03-31 02084195 d:FurnitureFittings 2023-03-31 02084195 d:FurnitureFittings 2022-03-31 02084195 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 02084195 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 02084195 d:CurrentFinancialInstruments 2023-03-31 02084195 d:CurrentFinancialInstruments 2022-03-31 02084195 d:Non-currentFinancialInstruments 2023-03-31 02084195 d:Non-currentFinancialInstruments 2022-03-31 02084195 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 02084195 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 02084195 d:UKTax 2022-04-01 2023-03-31 02084195 d:UKTax 2021-04-01 2022-03-31 02084195 d:ShareCapital 2023-03-31 02084195 d:ShareCapital 2022-03-31 02084195 d:RetainedEarningsAccumulatedLosses 2023-03-31 02084195 d:RetainedEarningsAccumulatedLosses 2022-03-31 02084195 c:FRS102 2022-04-01 2023-03-31 02084195 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 02084195 c:FullAccounts 2022-04-01 2023-03-31 02084195 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 02084195 2 2022-04-01 2023-03-31 02084195 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 02084195 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 02084195









SOLID BOND PRODUCTIONS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
SOLID BOND PRODUCTIONS LIMITED
REGISTERED NUMBER: 02084195

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
2,389,331
2,465,354

  
2,389,331
2,465,354

Current assets
  

Debtors: amounts falling due after more than one year
 6 
955,764
1,297,375

Debtors: amounts falling due within one year
 6 
20,994
55,770

Cash at bank and in hand
  
2,069,735
1,841,091

  
3,046,493
3,194,236

Creditors: amounts falling due within one year
 7 
(1,467,398)
(3,193,254)

Net current assets
  
 
 
1,579,095
 
 
982

Total assets less current liabilities
  
3,968,426
2,466,336

Provisions for liabilities
  

Deferred tax
 8 
(42,994)
(32,945)

  
 
 
(42,994)
 
 
(32,945)

Net assets
  
3,925,432
2,433,391


Capital and reserves
  

Called up share capital 
  
500
500

Profit and loss account
  
3,924,932
2,432,891

  
3,925,432
2,433,391


Page 1

 
SOLID BOND PRODUCTIONS LIMITED
REGISTERED NUMBER: 02084195
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers 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 director acknowledges his 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 comprehensive income 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: 




P J Weller
Director

Date: 16 November 2023

The notes on pages 3 to 10 form part of these financial statements.
Page 2

 
SOLID BOND PRODUCTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


Statutory Information

The company is a private company limited by shares and incorporated in England and Wales. Its registered office is located at 101 New Cavendish Street, 1st Floor South, London, England, W1W 6XH. The principle activity of the company in the year under review was that of promoters and distributors of songs and artists in the music industry.

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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Turnover

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:

 
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.

Page 3

 
SOLID BOND PRODUCTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.

Page 4

 
SOLID BOND PRODUCTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

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.

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

Depreciation is provided on the following basis:

Freehold property
-
2%
on cost
Improvements to property
-
2%
on cost
Music equipment
-
15%
on reducing balance
Motor vehicles
-
25%
on reducing balance
Fixtures and fittings
-
15%
on reducing balance

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.

 
2.9

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.

 
2.10

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.

 
2.11

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, including directors, during the year was 7 (2022 - 6).

Page 5

 
SOLID BOND PRODUCTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
385,992
-

Adjustments in respect of previous periods
-
(27,307)


385,992
(27,307)


Total current tax
385,992
(27,307)

Deferred tax


Origination and reversal of timing differences
10,049
11,052

Total deferred tax
10,049
11,052


Tax on profit/(loss)
396,041
(16,255)




Page 6

 
SOLID BOND PRODUCTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





Freehold property
Improvment to  property
Music equipment
Motor vehicles
Fixtures and fittings

£
£
£
£
£



Cost or valuation


At 1 April 2022
2,282,451
193,624
341,341
80,818
453,286


Additions
-
-
8,714
-
15,479



At 31 March 2023

2,282,451
193,624
350,055
80,818
468,765



Depreciation


At 1 April 2022
300,035
12,766
229,108
63,059
281,196


Charge for the year on owned assets
45,649
3,872
17,360
4,440
28,897



At 31 March 2023

345,684
16,638
246,468
67,499
310,093



Net book value



At 31 March 2023
1,936,767
176,986
103,587
13,319
158,672



At 31 March 2022
1,982,416
180,857
112,233
17,759
172,089
Page 7

 
SOLID BOND PRODUCTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

           5.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 April 2022
3,351,520


Additions
24,193



At 31 March 2023

3,375,713



Depreciation


At 1 April 2022
886,164


Charge for the year on owned assets
100,218



At 31 March 2023

986,382



Net book value



At 31 March 2023
2,389,331



At 31 March 2022
2,465,354

Page 8

 
SOLID BOND PRODUCTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
955,764
1,297,375

955,764
1,297,375


2023
2022
£
£

Due within one year

Trade debtors
-
33,360

Other debtors
5,000
-

Prepayments and accrued income
15,994
22,410

20,994
55,770



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
12,249
176,670

Amounts owed to associates
1,004,446
1,224,446

Corporation tax
385,992
-

Other taxation and social security
17,949
151,301

Other creditors
21,562
15,299

Accruals and deferred income
25,200
1,625,538

1,467,398
3,193,254


Page 9

 
SOLID BOND PRODUCTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Deferred taxation




2023


£






At beginning of year
(32,945)


Charged to profit or loss
(10,049)



At end of year
(42,994)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(42,994)
(32,945)

(42,994)
(32,945)

 
Page 10