Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true32023-04-01falseNo description of principal activity3false 13135277 2023-04-01 2023-12-31 13135277 2022-04-01 2023-03-31 13135277 2023-12-31 13135277 2023-03-31 13135277 c:Director3 2023-04-01 2023-12-31 13135277 d:CurrentFinancialInstruments 2023-12-31 13135277 d:CurrentFinancialInstruments 2023-03-31 13135277 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13135277 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13135277 d:ShareCapital 2023-12-31 13135277 d:ShareCapital 2023-03-31 13135277 d:RetainedEarningsAccumulatedLosses 2023-12-31 13135277 d:RetainedEarningsAccumulatedLosses 2023-03-31 13135277 c:OrdinaryShareClass1 2023-04-01 2023-12-31 13135277 c:OrdinaryShareClass1 2023-12-31 13135277 c:OrdinaryShareClass1 2023-03-31 13135277 c:FRS102 2023-04-01 2023-12-31 13135277 c:AuditExempt-NoAccountantsReport 2023-04-01 2023-12-31 13135277 c:FullAccounts 2023-04-01 2023-12-31 13135277 c:PrivateLimitedCompanyLtd 2023-04-01 2023-12-31 13135277 2 2023-04-01 2023-12-31 13135277 e:PoundSterling 2023-04-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 13135277









NEVER WORRY RECORDS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
NEVER WORRY RECORDS LIMITED
REGISTERED NUMBER: 13135277

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

31 December
31 March
2023
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
10,391
773

Cash at bank and in hand
 5 
81,966
135,973

  
92,357
136,746

Creditors: amounts falling due within one year
 6 
(13,595)
(24,405)

Net current assets
  
 
 
78,762
 
 
112,341

Total assets less current liabilities
  
78,762
112,341

  

Net assets
  
78,762
112,341


Capital and reserves
  

Called up share capital 
 8 
3
3

Profit and loss account
  
78,759
112,338

  
78,762
112,341


Page 1

 
NEVER WORRY RECORDS LIMITED
REGISTERED NUMBER: 13135277
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

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 period 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 




................................................
James Mack
Director

Date: 9 August 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
NEVER WORRY RECORDS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Never Worry Records Limited is a private company, limited by shares and incorporated in England and Wales (registered number 13135277). The address of the registered office is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH.

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.

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 profit or loss within 'other operating income'.

Page 3

 
NEVER WORRY RECORDS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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.

 
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.

 
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 reporting date in the countries where the Company operates and generates income.

 
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

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.

Page 4

 
NEVER WORRY RECORDS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

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 period was 3 (2023 - 3).


4.


Debtors

31 December
31 March
2023
2023
£
£


Other debtors
10,391
773

10,391
773



5.


Cash and cash equivalents

31 December
31 March
2023
2023
£
£

Cash at bank and in hand
81,966
135,973

81,966
135,973


Page 5

 
NEVER WORRY RECORDS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

31 December
31 March
2023
2023
£
£

Trade creditors
5,932
1,200

Amounts owed to group undertakings
897
-

Corporation tax
-
20,105

Accruals and deferred income
6,766
3,100

13,595
24,405



7.


Creditors: Amounts falling due after more than one year





8.


Share capital

31 December
31 March
2023
2023
£
£
Allotted, called up and fully paid



6 (2023 - 6) Ordinary shares of £0.50 each
3
3


 
Page 6