Caseware UK (AP4) 2023.0.135 2023.0.135 2023-06-302023-06-30false1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-07-01The principal activity of the company continued to be that of music record label.1true 11842780 2022-07-01 2023-06-30 11842780 2021-07-01 2022-06-30 11842780 2023-06-30 11842780 2022-06-30 11842780 c:Director1 2022-07-01 2023-06-30 11842780 d:CurrentFinancialInstruments 2023-06-30 11842780 d:CurrentFinancialInstruments 2022-06-30 11842780 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 11842780 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 11842780 d:ShareCapital 2023-06-30 11842780 d:ShareCapital 2022-06-30 11842780 d:RetainedEarningsAccumulatedLosses 2023-06-30 11842780 d:RetainedEarningsAccumulatedLosses 2022-06-30 11842780 c:OrdinaryShareClass1 2022-07-01 2023-06-30 11842780 c:OrdinaryShareClass1 2023-06-30 11842780 c:OrdinaryShareClass1 2022-06-30 11842780 c:FRS102 2022-07-01 2023-06-30 11842780 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 11842780 c:FullAccounts 2022-07-01 2023-06-30 11842780 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 11842780 2 2022-07-01 2023-06-30 11842780 e:PoundSterling 2022-07-01 2023-06-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 11842780














LIL LOU RECORDS LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

 
LIL LOU RECORDS LIMITED
REGISTERED NUMBER:11842780

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
68,863
73,044

  
68,863
73,044

Creditors: amounts falling due within one year
 5 
(344,431)
(342,556)

Net current liabilities
  
 
 
(275,568)
 
 
(269,512)

Total assets less current liabilities
  
(275,568)
(269,512)

  

Net liabilities
  
(275,568)
(269,512)


Capital and reserves
  

Called up share capital 
 6 
1
1

Profit and loss account
  
(275,569)
(269,513)

  
(275,568)
(269,512)


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 her 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: 




L E Redknapp
Director

Date: 28 March 2024

The notes on pages 2 to 4 form part of these financial statements.
Page 1

 
LIL LOU RECORDS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Lil Lou Records Limited is a private company, limited by shares, registered in England and Wales, registration number 11842780. 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 record label.

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

Going concern

The director has reviewed the financial circumstances of the company and confirms that it continues to receive support from its director. The director is 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.

 
2.3

Foreign currency translation

Functional and presentation currency

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

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 year 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.

Foreign exchange gains and losses that relate to borrowings are presented in the profit and loss account within 'administration expenses'. All other foreign exchange gains and losses are presented in profit or loss.

 
2.4

Turnover

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.

Turnover from music record label is recognised when it is probable the company will receive the rights to the consideration due under the contract.

Royalties receivable are recognised at the year end date by the company.

 
2.5

Interest income

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

Page 2

 
LIL LOU RECORDS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.6

Debtors

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

 
2.7

Creditors

Short-term creditors are measured at the transaction price. 

 
2.8

Financial instruments

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


3.


Employees

The average monthly number of employees, including a director, during the year was 1 (2022 - 1).


4.


Debtors

2023
2022
£
£


Other debtors
68,863
73,044



5.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
9,337
15,450

Corporation tax
-
200

Other taxation and social security
49
-

Other creditors
325,732
323,580

Accruals
9,313
3,326

344,431
342,556



6.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 -1) Ordinary share of £1.00
1
1


Page 3

 
LIL LOU RECORDS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

7.


Transactions with the director

During the year, the director advanced £6,815 (2022 - £24,427) to the company of which £2,526 (2022 - £3,887) was repaid to the company. At the year end, the director was owed £298,424 (2022 -  £294,135) by the company. The loan is unsecured, interest free and repayable on demand.
 
Page 4