Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31102023-01-01falseNo description of principal activity13truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10357977 2023-01-01 2023-12-31 10357977 2022-01-01 2022-12-31 10357977 2023-12-31 10357977 2022-12-31 10357977 c:Director1 2023-01-01 2023-12-31 10357977 d:FurnitureFittings 2023-01-01 2023-12-31 10357977 d:FurnitureFittings 2023-12-31 10357977 d:FurnitureFittings 2022-12-31 10357977 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10357977 d:OfficeEquipment 2023-01-01 2023-12-31 10357977 d:ComputerEquipment 2023-01-01 2023-12-31 10357977 d:ComputerEquipment 2023-12-31 10357977 d:ComputerEquipment 2022-12-31 10357977 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10357977 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10357977 d:CurrentFinancialInstruments 2023-12-31 10357977 d:CurrentFinancialInstruments 2022-12-31 10357977 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10357977 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10357977 d:ShareCapital 2023-12-31 10357977 d:ShareCapital 2022-12-31 10357977 d:RetainedEarningsAccumulatedLosses 2023-12-31 10357977 d:RetainedEarningsAccumulatedLosses 2022-12-31 10357977 c:FRS102 2023-01-01 2023-12-31 10357977 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10357977 c:FullAccounts 2023-01-01 2023-12-31 10357977 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10357977 2 2023-01-01 2023-12-31 10357977 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 10357977










CHORUS AGENCY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
CHORUS AGENCY LIMITED
REGISTERED NUMBER: 10357977

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
47,189
12,509

  
47,189
12,509

Current assets
  

Debtors
 5 
741,436
483,871

Cash at bank and in hand
 6 
821,129
492,008

  
1,562,565
975,879

Creditors: amounts falling due within one year
 7 
(566,318)
(338,845)

Net current assets
  
 
 
996,247
 
 
637,034

Total assets less current liabilities
  
1,043,436
649,543

  

Net assets
  
1,043,436
649,543


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
1,043,435
649,542

  
1,043,436
649,543


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 income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
CHORUS AGENCY LIMITED
REGISTERED NUMBER: 10357977
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Andrew Donaldson-Perrott
Director

Date: 16 April 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
CHORUS AGENCY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Chorus Agency Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 10357977 and the registered office address is Second Floor Office, Riverside Studios, 101 Queen Caroline Street, London W6 9BN  England.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

Revenue

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
CHORUS AGENCY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Interest income

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

 
2.5

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.

 
2.6

Taxation

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.

 
2.7

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, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
4 years
Office equipment
-
4 years
Computer equipment
-
3 years

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.

Page 4

 
CHORUS AGENCY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2022 - 10).

Page 5

 
CHORUS AGENCY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
-
28,852
28,852


Additions
30,997
15,224
46,221



At 31 December 2023

30,997
44,076
75,073



Depreciation


At 1 January 2023
-
16,343
16,343


Charge for the year on owned assets
3,141
8,400
11,541



At 31 December 2023

3,141
24,743
27,884



Net book value



At 31 December 2023
27,856
19,333
47,189



At 31 December 2022
-
12,509
12,509


5.


Debtors

2023
2022
£
£



Trade debtors
400,609
254,116

Other debtors
238,468
114,200

Prepayments and accrued income
102,359
100,716

Tax recoverable
-
14,839

741,436
483,871


Page 6

 
CHORUS AGENCY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
821,129
492,008

821,129
492,008



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
128,142
183,849

Corporation tax
115,412
59,549

Other taxation and social security
94,769
29,552

Other creditors
47,819
17,776

Accruals and deferred income
180,176
48,119

566,318
338,845



8.


Pension commitments

The Company contributes to defined contribution pension schemes. The assets of the schemes 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 funds and amounted to £20,851 (2022 - £15,944). Contributions totaling £8,326 (2022 - £5,421) were payable to the fund at the balance sheet date.


9.


Related party transactions

Included within trade debtors is an amount of £12,917 (2022 - £Nil) owed from Scotch Creatives Limited, a company under common control.
Included within trade creditors is an amount of £23,095 (2022 - £Nil) due to Scotch Creatives Limited.
This is as a result of normal day to day transactions within the company.
At the year end an amount of £26,884 is due from Scotch Creatives Limited.


10.


Ultimate Controlling party

The ultimate controlling party is Mr Andrew Donaldson-Perrott by virtue of his majority shareholding in Chorus Creative Group Limited, the ultimate parent company of Chorus Agency Limited. 

 
Page 7