Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31falsefalse2023-06-011falseNo description of principal activity1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12583372 2023-06-01 2023-12-31 12583372 2022-06-01 2023-05-31 12583372 2023-12-31 12583372 2023-05-31 12583372 c:Director1 2023-06-01 2023-12-31 12583372 d:OfficeEquipment 2023-06-01 2023-12-31 12583372 d:ComputerEquipment 2023-06-01 2023-12-31 12583372 d:ComputerEquipment 2023-12-31 12583372 d:ComputerEquipment 2023-05-31 12583372 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-06-01 2023-12-31 12583372 d:CurrentFinancialInstruments 2023-12-31 12583372 d:CurrentFinancialInstruments 2023-05-31 12583372 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12583372 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 12583372 d:ShareCapital 2023-12-31 12583372 d:ShareCapital 2023-05-31 12583372 d:RetainedEarningsAccumulatedLosses 2023-12-31 12583372 d:RetainedEarningsAccumulatedLosses 2023-05-31 12583372 c:OrdinaryShareClass1 2023-06-01 2023-12-31 12583372 c:OrdinaryShareClass1 2023-12-31 12583372 c:OrdinaryShareClass1 2023-05-31 12583372 c:FRS102 2023-06-01 2023-12-31 12583372 c:AuditExempt-NoAccountantsReport 2023-06-01 2023-12-31 12583372 c:FullAccounts 2023-06-01 2023-12-31 12583372 c:PrivateLimitedCompanyLtd 2023-06-01 2023-12-31 12583372 2 2023-06-01 2023-12-31 12583372 6 2023-06-01 2023-12-31 12583372 e:PoundSterling 2023-06-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12583372









ITSMELODIC LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
ITSMELODIC LIMITED
REGISTERED NUMBER: 12583372

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

31 December
31 May
2023
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,678
6,331

Investments
 5 
-
28,992

  
4,678
35,323

Current assets
  

Debtors: amounts falling due within one year
 6 
1,173,959
943,216

Cash at bank and in hand
 7 
975,109
1,648,545

  
2,149,068
2,591,761

Creditors: amounts falling due within one year
 8 
(204,970)
(679,878)

Net current assets
  
 
 
1,944,098
 
 
1,911,883

Total assets less current liabilities
  
1,948,776
1,947,206

  

Net assets
  
1,948,776
1,947,206


Capital and reserves
  

Called up share capital 
 9 
1
1

Profit and loss account
  
1,948,775
1,947,205

  
1,948,776
1,947,206


Page 1

 
ITSMELODIC LIMITED
REGISTERED NUMBER: 12583372
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers 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 director acknowledges his 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: 




................................................
O C Brierley-Jones
Director

Date: 9 September 2024

The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
ITSMELODIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Itsmelodic Limited is a private company limited by shares and incorporated in England and Wales (registered number 12583372). Its registered office is 101 New Cavendish Street, 1st Floor South, London, 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

 
ITSMELODIC 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

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

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

 
2.6

Borrowing costs

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

 
2.7

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.

Page 4

 
ITSMELODIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

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:

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.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.10

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.

 
2.11

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.

 
2.12

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.

Page 5

 
ITSMELODIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.13

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 period was 1 (2023 - 1).


4.


Tangible fixed assets







Computer equipment

£



Cost or valuation


At 1 June 2023
8,817



At 31 December 2023

8,817



Depreciation


At 1 June 2023
2,486


Charge for the period on owned assets
1,653



At 31 December 2023

4,139



Net book value



At 31 December 2023
4,678



At 31 May 2023
6,331

Page 6

 
ITSMELODIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

5.


Fixed asset investments








Unlisted investments

£





At 1 June 2023
28,992


Disposals
(28,992)



At 31 December 2023
-





6.


Debtors

31 December
31 May
2023
2023
£
£


Trade debtors
101,890
108,442

Other debtors
914,236
679,891

Prepayments and accrued income
157,833
154,883

1,173,959
943,216



7.


Cash and cash equivalents

31 December
31 May
2023
2023
£
£

Cash at bank and in hand
975,109
1,648,545

Less: bank overdrafts
-
(3)

975,109
1,648,542


Page 7

 
ITSMELODIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due within one year

31 December
31 May
2023
2023
£
£

Bank overdrafts
-
3

Corporation tax
113,723
112,967

Other taxation and social security
56,142
44,987

Other creditors
31,105
17,921

Accruals and deferred income
4,000
504,000

204,970
679,878



9.


Share capital

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



1 (2023 - 1) ordinary share of £1.00
1
1


 
Page 8