Caseware UK (AP4) 2023.0.135 2023.0.135 2023-06-302023-06-30true12022-07-01falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.1true 05518710 2022-07-01 2023-06-30 05518710 2021-07-01 2022-06-30 05518710 2023-06-30 05518710 2022-06-30 05518710 c:Director1 2022-07-01 2023-06-30 05518710 d:FurnitureFittings 2022-07-01 2023-06-30 05518710 d:FurnitureFittings 2023-06-30 05518710 d:FurnitureFittings 2022-06-30 05518710 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05518710 d:CurrentFinancialInstruments 2023-06-30 05518710 d:CurrentFinancialInstruments 2022-06-30 05518710 d:Non-currentFinancialInstruments 2023-06-30 05518710 d:Non-currentFinancialInstruments 2022-06-30 05518710 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 05518710 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 05518710 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 05518710 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 05518710 d:ShareCapital 2023-06-30 05518710 d:ShareCapital 2022-06-30 05518710 d:CapitalRedemptionReserve 2023-06-30 05518710 d:CapitalRedemptionReserve 2022-06-30 05518710 d:RetainedEarningsAccumulatedLosses 2023-06-30 05518710 d:RetainedEarningsAccumulatedLosses 2022-06-30 05518710 c:OrdinaryShareClass1 2022-07-01 2023-06-30 05518710 c:OrdinaryShareClass1 2023-06-30 05518710 c:OrdinaryShareClass1 2022-06-30 05518710 c:FRS102 2022-07-01 2023-06-30 05518710 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 05518710 c:FullAccounts 2022-07-01 2023-06-30 05518710 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 05518710 2 2022-07-01 2023-06-30 05518710 d:ShareCapitalOtherShareTypes 2023-06-30 05518710 d:ShareCapitalOtherShareTypes 2022-06-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 05518710














BRILLE RECORDS LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

 
BRILLE RECORDS LIMITED
REGISTERED NUMBER:05518710

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
550
734

  
550
734

Current assets
  

Stocks
 5 
5,296
-

Debtors: amounts falling due within one year
 6 
293,977
224,437

Cash at bank
 7 
2,259
721

  
301,532
225,158

Creditors: amounts falling due within one year
 8 
(164,636)
(80,309)

Net current assets
  
 
 
136,896
 
 
144,849

Total assets less current liabilities
  
137,446
145,583

Creditors: amounts falling due after more than one year
 9 
(10,119)
(14,281)

Provisions for liabilities
  

Deferred tax
  
(138)
(147)

  
 
 
(138)
 
 
(147)

Net assets
  
127,189
131,155


Capital and reserves
  

Called up share capital 
 10 
50
50

Capital redemption reserve
  
50
50

Profit and loss account
  
127,089
131,055

  
127,189
131,155



 
BRILLE RECORDS LIMITED
REGISTERED NUMBER:05518710
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 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 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: 


P A Benney
Director

Date: 18 April 2024

The notes on page 2 form part of these financial statements.


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

1.


General information

Brille Records Limited is a private company, limited by shares, registered in England and Wales, registration number 05518710. 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 selling and distributing recorded music.

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 presentation currency

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

 
2.3

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 the sale of recorded music is recognised when the significant risks and rewards of ownership have been transferred to the buyer.

Turnover from selling and distributing recorded music 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.

Advances received from royalties are carried forward as deferred income until the earlier of recoupment against contractual royalties due, agreement expiry or recognition that recoupment is unlikely to take place.


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

2.Accounting policies (continued)

 
2.4

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
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.

 
2.5

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. 

At each balance sheet 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.

 
2.6

Cash

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

 
2.7

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.

 
2.8

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.

 
2.9

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, trade and other creditors, loans from banks and other third parties and loans with related parties.


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

2.Accounting policies (continued)

 
2.10

 Government grants

Grants are accounted under the accruals model as permitted by FRS 102. 
Grants of a revenue nature are recognised in the profit and loss account in the same period as the related expenditure. Grants received in respect of Coronavirus Business Interruption Loan are included in the other income.

 
2.11

 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.

 
2.12

 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.

 
2.13

  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.

 
2.14

 Interest income

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

 
2.15

 Borrowing costs

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


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

2.Accounting policies (continued)

 
2.16

 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 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.

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. Deferred tax is determined using 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 a director, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Fixtures and fittings

£



Cost 


At 1 July 2022
10,555



At 30 June 2023

10,555



Depreciation


At 1 July 2022
9,821


Charge for the year
184



At 30 June 2023

10,005



Net book value



At 30 June 2023
550



At 30 June 2022
734


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

5.


Stocks

2023
2022
£
£

Goods for resale
5,296
-



6.


Debtors

2023
2022
£
£


Trade debtors
2,718
15,018

Other debtors
269,815
209,419

Accrued income
21,444
-

293,977
224,437



7.


Cash

2023
2022
£
£

Cash at bank
2,259
721



8.


Creditors: amounts falling due within one year

2023
2022
£
£

Bank loans
4,163
4,060

Trade creditors
5,709
3,203

Corporation tax
15,918
19,768

Other taxation and social security
1
783

Other creditors
59,241
23,995

Accruals and deferred income
79,604
28,500

164,636
80,309



9.


Creditors: amounts falling due after more than one year

2023
2022
£
£

Bank loans
10,119
14,281


Page 1

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

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



50 (2022 - 50) Ordinary shares of £1.00 each
50
50



11.


Transactions with the director

During the year, the company advanced £9,307 (2022 - £62,641) to the director of which £52,946 (2022 - £27,287) was repaid to the company. At the year end this director owed £103,083  (2022 - £146,722) to the company. The loan is unsecured, repayable on demand and interest at an official rate has been charged.
During the year, dividend of £36,000 (2022 - £27,000) was paid to the director.
     

12.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £563 (2022 - £250). Contributions totalling £292 (2022 - £146 - payable to the fund) were receivable by the fund at the balance sheet date and are included in other debtors.

 
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