Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31222023-01-01falseThe principal activity of the company continued to be that of investment in sales and marketing of recorded music.27truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02045353 2023-01-01 2023-12-31 02045353 2022-01-01 2022-12-31 02045353 2023-12-31 02045353 2022-12-31 02045353 2022-01-01 02045353 c:Director2 2023-01-01 2023-12-31 02045353 d:MotorVehicles 2023-01-01 2023-12-31 02045353 d:MotorVehicles 2023-12-31 02045353 d:MotorVehicles 2022-12-31 02045353 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02045353 d:FurnitureFittings 2023-01-01 2023-12-31 02045353 d:OfficeEquipment 2023-01-01 2023-12-31 02045353 d:ComputerEquipment 2023-01-01 2023-12-31 02045353 d:ComputerEquipment 2023-12-31 02045353 d:ComputerEquipment 2022-12-31 02045353 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02045353 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 02045353 d:OtherPropertyPlantEquipment 2023-12-31 02045353 d:OtherPropertyPlantEquipment 2022-12-31 02045353 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02045353 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02045353 d:CurrentFinancialInstruments 2023-12-31 02045353 d:CurrentFinancialInstruments 2022-12-31 02045353 d:Non-currentFinancialInstruments 2023-12-31 02045353 d:Non-currentFinancialInstruments 2022-12-31 02045353 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 02045353 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 02045353 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 02045353 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 02045353 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 02045353 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 02045353 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 02045353 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 02045353 d:ShareCapital 2023-12-31 02045353 d:ShareCapital 2022-12-31 02045353 d:CapitalRedemptionReserve 2023-12-31 02045353 d:CapitalRedemptionReserve 2022-12-31 02045353 d:RetainedEarningsAccumulatedLosses 2023-12-31 02045353 d:RetainedEarningsAccumulatedLosses 2022-12-31 02045353 c:OrdinaryShareClass1 2023-01-01 2023-12-31 02045353 c:OrdinaryShareClass1 2023-12-31 02045353 c:FRS102 2023-01-01 2023-12-31 02045353 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 02045353 c:FullAccounts 2023-01-01 2023-12-31 02045353 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02045353 d:WithinOneYear 2023-12-31 02045353 d:WithinOneYear 2022-12-31 02045353 d:BetweenOneFiveYears 2023-12-31 02045353 d:BetweenOneFiveYears 2022-12-31 02045353 2 2023-01-01 2023-12-31 02045353 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 02045353 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 02045353 d:OtherDeferredTax 2023-12-31 02045353 d:OtherDeferredTax 2022-12-31 02045353 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 02045353














COOKING VINYL LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
COOKING VINYL LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 9


 
COOKING VINYL LIMITED
REGISTERED NUMBER:02045353

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
11,600
15,398

  
11,600
15,398

Current assets
  

Stocks
 5 
203,619
208,904

Debtors: amounts falling due within one year
 6 
3,372,552
3,224,841

Cash at bank and in hand
 7 
902,165
404,988

  
4,478,336
3,838,733

Creditors: amounts falling due within one year
 8 
(4,290,742)
(3,273,590)

Net current assets
  
 
 
187,594
 
 
565,143

Total assets less current liabilities
  
199,194
580,541

Creditors: amounts falling due after more than one year
 9 
-
(275,000)

  

Net assets
  
199,194
305,541


Capital and reserves
  

Called up share capital 
 12 
100
100

Capital redemption reserve
  
100
100

Profit and loss account
  
198,994
305,341

  
199,194
305,541


1

 
COOKING VINYL LIMITED
REGISTERED NUMBER:02045353
    
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: 




................................................
M Goldschmidt
Director

Date: 1 August 2024

The notes on pages 3 to 9 form part of these financial statements.

2

 
COOKING VINYL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Cooking Vinyl Limited is a private company, limited by shares, registered in England and Wales, registration number 02045353. The company's registered office address is Camden Gateway, 349 Royal College Street, London, NW1 9QS.
The principal activity of the company continued to be that of investment in sales and marketing of recorded music.

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 pound sterling.

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 that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account 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 from investment in sales and marketing of recorded music 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. 

 
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.

3

 
COOKING VINYL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the company can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

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.

 
2.8

 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.

4

 
COOKING VINYL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
 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:

Motor vehicles
-
over 5 years
Fixtures and fittings
-
over 3 to 5 years
Office equipment
-
over 3 to 5 years
Computer equipment
-
over 3 to 5 years
Land & property improvements
-
over 4 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.

 
2.9

 Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. 

 
2.10

 Debtors

Short term debtors are measured at transaction price, 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.

 
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.

 
2.13

 Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans from and to related parties.


3.


Employees

The average monthly number of employees, including directors, during the year was 22 (2022 - 27).

5

 
COOKING VINYL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Motor vehicles
Computer equipment
Land & property improvements
Total

£
£
£
£



Cost or valuation


At 1 January 2023
74,341
195,906
229,001
499,248


Additions
-
9,845
-
9,845


Disposals
(8,176)
(161,668)
(229,001)
(398,845)



At 31 December 2023

66,165
44,083
-
110,248



Depreciation


At 1 January 2023
67,106
187,743
229,001
483,850


Charge for the year on owned assets
1,512
6,408
-
7,920


Disposals
(2,453)
(161,668)
(229,001)
(393,122)



At 31 December 2023

66,165
32,483
-
98,648



Net book value



At 31 December 2023
-
11,600
-
11,600



At 31 December 2022
7,235
8,163
-
15,398


5.


Stocks

2023
2022
£
£

Stock
203,619
208,904



6.


Debtors

2023
2022
£
£


Trade debtors
1,408,114
1,015,922

Amounts owed by group undertakings
973,441
887,763

Other debtors
70,080
-

Prepayments and accrued income
913,012
1,313,401

Deferred taxation
7,905
7,755

3,372,552
3,224,841


6

 
COOKING VINYL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
902,165
404,988



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
275,000
200,000

Trade creditors
286,472
400,051

Amounts owed to group undertakings
1,201,875
1,230,169

Corporation tax
-
3,919

Other taxation and social security
323,344
52,392

Other creditors
19,572
40,151

Accruals and deferred income
2,184,479
1,346,908

4,290,742
3,273,590


The bank loan of £275,000 (2022 - £200,000) included in creditors due within one year is a Coronavirus Business Interruption Loan, 100% guaranteed by the government.


9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
275,000


The bank loan of £NIL (2022 - £275,000) included in creditors due after more than one year was a Coronavirus Business Interruption Loan, 100% guaranteed by the government.

7

 
COOKING VINYL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
275,000
200,000

Amounts falling due 1-2 years

Bank loans
-
100,000

Amounts falling due 2-5 years

Bank loans
-
175,000


275,000
475,000



11.


Deferred taxation




2023
2022


£

£






At beginning of year
7,755
4,646


Charged to profit or loss
150
3,109



At end of year
7,905
7,755

The deferred tax asset is made up as follows:

2023
2022
£
£


Accelerated capital allowances
6,440
6,346

Short term timing differences
1,465
1,409

7,905
7,755

8

 
COOKING VINYL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1.00 each
100
100



13.


Pension commitments

The company operates a defined contribution scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension cost charge reparesents contributions payable by the company to the fund and amounted to £34,949 (2022 -  £38,514). Included in other creditors at the year end there is an amount payable of £5,863 (2022 - £5,636).


14.


Commitments under operating leases

At 31 December 2023 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
4,800
28,800

Later than 1 year and not later than 5 years
-
4,800

4,800
33,600


15.


Related party transactions

No disclosure has been made of transactions with other wholly owned group companies in accordance with FRS 102 Section 1A paragraph 1AC.35.

As at the year end, the company owed £NIL (2022 - £14,913) to the director. The loan is repayable on demand and interest at official interest rate was charged.

 
9