Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-30048137982023-06-3012022-07-01false1falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04813798 2022-07-01 2023-06-30 04813798 2021-07-01 2022-06-30 04813798 2023-06-30 04813798 2022-06-30 04813798 2021-07-01 04813798 1 2022-07-01 2023-06-30 04813798 d:Director1 2022-07-01 2023-06-30 04813798 c:CurrentFinancialInstruments 2023-06-30 04813798 c:CurrentFinancialInstruments 2022-06-30 04813798 c:CurrentFinancialInstruments c:WithinOneYear 2023-06-30 04813798 c:CurrentFinancialInstruments c:WithinOneYear 2022-06-30 04813798 c:ShareCapital 2022-07-01 2023-06-30 04813798 c:ShareCapital 2023-06-30 04813798 c:ShareCapital 2021-07-01 2022-06-30 04813798 c:ShareCapital 2022-06-30 04813798 c:ShareCapital 2021-07-01 04813798 c:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 04813798 c:RetainedEarningsAccumulatedLosses 2023-06-30 04813798 c:RetainedEarningsAccumulatedLosses 2021-07-01 2022-06-30 04813798 c:RetainedEarningsAccumulatedLosses 2022-06-30 04813798 c:RetainedEarningsAccumulatedLosses 2021-07-01 04813798 d:OrdinaryShareClass1 2022-07-01 2023-06-30 04813798 d:OrdinaryShareClass1 2021-07-01 2022-06-30 04813798 d:OrdinaryShareClass1 2023-06-30 04813798 d:OrdinaryShareClass1 2022-06-30 04813798 d:FRS102 2022-07-01 2023-06-30 04813798 d:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 04813798 d:FullAccounts 2022-07-01 2023-06-30 04813798 d:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 xbrli:shares iso4217:GBP xbrli:pure

















Ten Minutes Touring Company Limited

Registered number: 04813798
Information for filing with the Registrar
For the year ended 30 June 2023

 
 04813798
30 June 2023
TEN MINUTES TOURING COMPANY LIMITED
REGISTERED NUMBER: 04813798

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Current assets
  

Debtors: amounts falling due within one year
 4 
68,858
-

Cash and cash equivalents
  
1,592,537
1,385,577

  
1,661,395
1,385,577

Creditors: amounts falling due within one year
 5 
(376,180)
(213,949)

Net current assets
  
 
 
1,285,215
 
 
1,171,628

Total assets less current liabilities
  
1,285,215
1,171,628

  

Net assets
  
1,285,215
1,171,628


Capital and reserves
  

Called up share capital 
 6 
100
100

Profit and loss account
  
1,285,115
1,171,528

Total equity
  
1,285,215
1,171,628


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 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: 



N Jones
Director

Date: 31 January 2024

The notes on pages 3 to 8 form part of these financial statements.
- 1 -

 
 04813798
30 June 2023
TEN MINUTES TOURING COMPANY LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 July 2021
100
649,070
649,170


Comprehensive income for the year

Profit for the year
-
522,458
522,458


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
522,458
522,458



At 1 July 2022
100
1,171,528
1,171,628


Comprehensive income for the year

Profit for the year
-
113,587
113,587


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
113,587
113,587


At 30 June 2023
100
1,285,115
1,285,215


The notes on pages 3 to 8 form part of these financial statements.

- 2 -

 
 04813798
30 June 2023
TEN MINUTES TOURING COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Ten Minutes Touring Company Limited is a private company limited by shares and incorporated in England. The company's registered number is 04813798. The company's registered office address is 30 Old Bailey, London, EC4M 7AU.
The principal activity of the company is that of other amusement and recreation activities.

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.

These financial statements have been presented in Pounds Sterling and are rounded to the nearest pound, as this is the company’s functional currency, being the currency of the primary economic environment in which the company operates.

The following principal accounting policies have been applied:

  
2.2

Going concern

The directors have assessed the balance sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

  
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 taxes and other sales taxes. The following criteria must also be met before turnover is recognised. 
Turnover comprises two types of income:
- Artist services in the United Kingdom and Republic of Ireland; and
- Production services for tours worldwide except for the United States of America, Australia and New Zealand.
Tour income is recognised on completion of each leg of the tour, appearance fees when performance has taken place.

- 3 -

 
 04813798
30 June 2023
TEN MINUTES TOURING COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The company's functional and presentation currency is Pounds 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 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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of Comprehensive Income within 'administrative expenses'.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income 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 reporting 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 reporting 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 reporting date.

- 4 -

 
 04813798
30 June 2023
TEN MINUTES TOURING COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.6

Debtors: amounts falling  due within one year

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.

 
2.7

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.

 
2.8

Creditors: amounts falling  due within one year

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.
- 5 -

 
 04813798
30 June 2023
TEN MINUTES TOURING COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.9

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022: 1).

- 6 -

 
 04813798
30 June 2023
TEN MINUTES TOURING COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Debtors: amounts falling due within one year

2023
2022
£
£


Trade debtors
68,858
-

68,858
-



5.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
65,569
-

Amounts owed to group undertakings
10,000
-

Corporation tax
153,307
121,891

Other taxation and social security
59,087
92,058

Accruals and deferred income
88,217
-

376,180
213,949


Amounts owed to group undertakings are unsecured, interest free and repayable on demand.


6.


Called up share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022: 100) Ordinary shares of £1 each
100
100


The company has one class of shares; each share carries one voting right per share but no right to fixed income.


7.


Related party transactions

The company has taken advantage of the exemption permitted by Section 33 'Related party disclosures' to not provide disclosures of transactions entered into with other wholly owned members of the group.


8.


Post balance sheet events

There have been no significant events affecting the company since the year end.

- 7 -

 
 04813798
30 June 2023
TEN MINUTES TOURING COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

9.


Controlling party

The immediate parent company is Darenote Limited, a company incorporated in England. 
The ultimate controlling party is K Minogue.  

- 8 -