Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01falseMedia representation services96truetrue 08365931 2023-04-01 2024-03-31 08365931 2022-04-01 2023-03-31 08365931 2024-03-31 08365931 2023-03-31 08365931 c:Director1 2023-04-01 2024-03-31 08365931 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 08365931 d:Buildings d:LongLeaseholdAssets 2024-03-31 08365931 d:Buildings d:LongLeaseholdAssets 2023-03-31 08365931 d:OfficeEquipment 2023-04-01 2024-03-31 08365931 d:OfficeEquipment 2024-03-31 08365931 d:OfficeEquipment 2023-03-31 08365931 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08365931 d:ComputerEquipment 2023-04-01 2024-03-31 08365931 d:ComputerEquipment 2024-03-31 08365931 d:ComputerEquipment 2023-03-31 08365931 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08365931 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08365931 d:Goodwill 2024-03-31 08365931 d:Goodwill 2023-03-31 08365931 d:CurrentFinancialInstruments 2024-03-31 08365931 d:CurrentFinancialInstruments 2023-03-31 08365931 d:Non-currentFinancialInstruments 2024-03-31 08365931 d:Non-currentFinancialInstruments 2023-03-31 08365931 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 08365931 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08365931 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 08365931 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 08365931 d:ShareCapital 2024-03-31 08365931 d:ShareCapital 2023-03-31 08365931 d:RetainedEarningsAccumulatedLosses 2024-03-31 08365931 d:RetainedEarningsAccumulatedLosses 2023-03-31 08365931 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 08365931 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 08365931 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 08365931 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 08365931 c:OrdinaryShareClass1 2023-04-01 2024-03-31 08365931 c:OrdinaryShareClass1 2023-03-31 08365931 c:OrdinaryShareClass2 2023-04-01 2024-03-31 08365931 c:OrdinaryShareClass2 2024-03-31 08365931 c:OrdinaryShareClass3 2023-04-01 2024-03-31 08365931 c:OrdinaryShareClass3 2024-03-31 08365931 c:OrdinaryShareClass4 2023-04-01 2024-03-31 08365931 c:OrdinaryShareClass4 2024-03-31 08365931 c:FRS102 2023-04-01 2024-03-31 08365931 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08365931 c:FullAccounts 2023-04-01 2024-03-31 08365931 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08365931 2 2023-04-01 2024-03-31 08365931 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 08365931









UTC ARTIST MANAGEMENT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
UTC ARTIST MANAGEMENT LIMITED
REGISTERED NUMBER: 08365931

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 5 
7,973
3,477

  
7,973
3,477

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 6 
141,983
132,791

Cash at bank and in hand
  
148,418
288,291

  
290,401
421,082

Creditors: amounts falling due within one year
 7 
(93,587)
(211,165)

NET CURRENT ASSETS
  
 
 
196,814
 
 
209,917

TOTAL ASSETS LESS CURRENT LIABILITIES
  
204,787
213,394

Creditors: amounts falling due after more than one year
 8 
(8,509)
(15,128)

PROVISIONS FOR LIABILITIES
  

Deferred tax
 9 
(507)
(834)

  
 
 
(507)
 
 
(834)

NET ASSETS
  
195,771
197,432


CAPITAL AND RESERVES
  

Called up share capital 
 10 
20,000
10,000

Profit and loss account
  
175,771
187,432

  
195,771
197,432


Page 1

 
UTC ARTIST MANAGEMENT LIMITED
REGISTERED NUMBER: 08365931
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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.

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






David Geli
Director

Date: 22 August 2024

The notes on pages 3 to 10 form part of these financial statements.
Page 2

 
UTC ARTIST MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


GENERAL INFORMATION

UTC Artist Management Limited is a private company, limited by shares and incorporated in England & Wales. Its registered office address is  Unit 501a Level 5, Peckham Levels, 95A Rye Lane, London SE15 4ST.
The Company's functional and presentational currency is GBP. 

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.

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 Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

TURNOVER

Turnover comprises sales of media and photographic activities.
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.

Page 3

 
UTC ARTIST MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

INTEREST INCOME

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

 
2.6

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.

 
2.7

BORROWING COSTS

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

 
2.8

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.

Page 4

 
UTC ARTIST MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.9

CURRENT AND DEFERRED 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 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.

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 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 balance sheet date.

 
2.10

INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.11

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.

Page 5

 
UTC ARTIST MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.11
TANGIBLE FIXED ASSETS (CONTINUED)

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:

Office equipment
-
25%
straight-line
Computer equipment
-
25%
straight-line

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.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

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.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 9 (2023 - 6).

Page 6

 
UTC ARTIST MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


INTANGIBLE ASSETS




Goodwill

£



COST


At 1 April 2023
10,000



At 31 March 2024

10,000



AMORTISATION


At 1 April 2023
10,000



At 31 March 2024

10,000



NET BOOK VALUE



At 31 March 2024
-



At 31 March 2023
-



Page 7

 
UTC ARTIST MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


TANGIBLE FIXED ASSETS





Office Refurbish
Office equipment
Computer equipment
Total

£
£
£
£



COST OR VALUATION


At 1 April 2023
-
5,516
4,090
9,606


Additions
4,050
-
3,025
7,075



At 31 March 2024

4,050
5,516
7,115
16,681



DEPRECIATION


At 1 April 2023
-
3,795
2,334
6,129


Charge for the year on owned assets
759
940
880
2,579



At 31 March 2024

759
4,735
3,214
8,708



NET BOOK VALUE



At 31 March 2024
3,291
781
3,901
7,973



At 31 March 2023
-
1,721
1,756
3,477


6.


DEBTORS

2024
2023
£
£


Trade debtors
5,551
4,224

Other debtors
124,488
126,127

Called up share capital not paid
10,000
-

Prepayments and accrued income
1,944
2,440

141,983
132,791


Included within other debtors is a loan to a director totalling £45,014. The loan is interest free and repayable on demand.
Included within other debtors is a loan to a director totalling £26,751. The loan is interest free and repayable on demand.

Page 8

 
UTC ARTIST MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank overdrafts
-
4

Bank loans
6,619
6,455

Trade creditors
4,967
1,547

Corporation tax
31,227
67,089

Other taxation and social security
19,681
27,068

Other creditors
27,943
106,877

Accruals
3,150
2,125

93,587
211,165


Bank loans represent a government backed 'Bounce Back Loan' . The loan is 100% guaranteed by the government and there were no fees or interest payable during the first 12 months. After this initial 12 months period, interest was charged at a fixed rate of 2.5% per annum. 
Other creditors include contributions of £NIL (2023 - £332) payable to the Company's defined contribution pension scheme at the balance sheet date.


8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Bank loans
8,509
15,128

8,509
15,128


Bank loans represent a government backed 'Bounce Back Loan' . The loan is 100% guaranteed by the government and there were no fees or interest payable during the first 12 months. After this initial 12 months period, interest was charged at a fixed rate of 2.5% per annum. 

Page 9

 
UTC ARTIST MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


DEFERRED TAXATION




2024


£






At beginning of year
(834)


Charged to profit or loss
327



AT END OF YEAR
(507)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(543)
(869)

Short term timing differences
36
35

(507)
(834)


10.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



Nil (2023 - 100) Ordinary shares of £100.00 each
-
10,000
50 (2023 - nil) Ordinary A shares of £100.00 each
5,000
-
50 (2023 - nil) Ordinary B shares of £100.00 each
5,000
-

10,000

10,000

ALLOTTED, CALLED UP AND PARTLY PAID



45 (2023 - nil) Ordinary A shares of £100.00 each
4,500
-
45 (2023 - nil) Ordinary B shares of £100.00 each
4,500
-
10 (2023 - nil) Ordinary C shares of £100.00 each
1,000
-

10,000

-

During the period, the company issued 100 Ordinary £100 shares at par. 
Subsequent to this, the company redesignated 100 Ordinary shares of £100 each to 95 Ordinary A shares of £100 each, 95 Ordinary B shares of £100 each and 10 Ordinary C shares of £100 each.


 
Page 10