Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31true32023-01-013falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00846308 2023-01-01 2023-12-31 00846308 2022-01-01 2022-12-31 00846308 2023-12-31 00846308 2022-12-31 00846308 c:Director2 2023-01-01 2023-12-31 00846308 c:Director4 2023-01-01 2023-12-31 00846308 d:CurrentFinancialInstruments 2023-12-31 00846308 d:CurrentFinancialInstruments 2022-12-31 00846308 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 00846308 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 00846308 d:ShareCapital 2023-12-31 00846308 d:ShareCapital 2022-12-31 00846308 d:CapitalRedemptionReserve 2023-12-31 00846308 d:CapitalRedemptionReserve 2022-12-31 00846308 d:RetainedEarningsAccumulatedLosses 2023-12-31 00846308 d:RetainedEarningsAccumulatedLosses 2022-12-31 00846308 c:OrdinaryShareClass1 2023-01-01 2023-12-31 00846308 c:OrdinaryShareClass1 2023-12-31 00846308 c:OrdinaryShareClass1 2022-12-31 00846308 c:FRS102 2023-01-01 2023-12-31 00846308 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 00846308 c:FullAccounts 2023-01-01 2023-12-31 00846308 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00846308 2 2023-01-01 2023-12-31 00846308 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 00846308














FABULOUS MUSIC LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
FABULOUS MUSIC LIMITED
REGISTERED NUMBER:00846308

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
 5 
178
181

Debtors: amounts falling due within one year
 6 
193,325
315,834

Cash at bank
 7 
892,390
671,444

  
1,085,893
987,459

Creditors: amounts falling due within one year
 8 
(603,018)
(599,462)

Net current assets
  
 
 
482,875
 
 
387,997

Total assets less current liabilities
  
482,875
387,997

  

Net assets
  
482,875
387,997


Capital and reserves
  

Called up share capital 
 9 
83
83

Capital redemption reserve
  
17
17

Profit and loss account
  
482,775
387,897

  
482,875
387,997


Page 1

 
FABULOUS MUSIC LIMITED
REGISTERED NUMBER:00846308
    
BALANCE SHEET (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 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 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: 




L S Richmond
P D B Townshend
Director
Director


Date: 30 July 2024

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
FABULOUS MUSIC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Fabulous Music Limited is a private company, limited by shares, registered in England and Wales, registration number 00846308. The registered office address is Suite 2.07, Plaza 535, Kings Road, London, SW10 0SZ. 
 
The principal activity of the company continued to be that of music publishing.

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

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 music publishing 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.
Royalties payable are calculated by reference to statements of account used for determining royalties receivable.

 
2.3

 Interest income

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

 
2.4

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 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.

 
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

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.

Page 3

 
FABULOUS MUSIC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Cash

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

 
2.8

 Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities 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 and loans with related parties.

 
2.10

 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 3 (2022 - 3).


4.


Dividends

2023
2022
£
£


Dividends paid in the year
387,610
370,595


5.


Stocks

2023
2022
£
£

Finished goods
178
181


Page 4

 
FABULOUS MUSIC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
15,192
73,043

Amounts owed by connected company
173,017
235,887

Other debtors
5,116
6,904

193,325
315,834



7.


Cash

2023
2022
£
£

Cash at bank
892,390
671,444



8.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
305,524
357,153

Corporation tax
148,287
90,883

Other taxation and social security
54,281
39,095

Other creditors
87,135
104,499

Accruals
7,791
7,832

603,018
599,462



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



83 (2022 - 83) Ordinary shares of £1.00 each
83
83



10.Other financial commitments

The directors proposed that a final dividend of £482,230 (2022 - £387,610) is payable for the year under review.

 
Page 5