Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The principal activity of the company continued to be that of music publishing.false2023-01-0133truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03662247 2023-01-01 2023-12-31 03662247 2022-01-01 2022-12-31 03662247 2023-12-31 03662247 2022-12-31 03662247 c:Director1 2023-01-01 2023-12-31 03662247 d:CurrentFinancialInstruments 2023-12-31 03662247 d:CurrentFinancialInstruments 2022-12-31 03662247 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03662247 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03662247 d:ShareCapital 2023-12-31 03662247 d:ShareCapital 2022-12-31 03662247 d:RetainedEarningsAccumulatedLosses 2023-12-31 03662247 d:RetainedEarningsAccumulatedLosses 2022-12-31 03662247 c:OrdinaryShareClass1 2023-01-01 2023-12-31 03662247 c:OrdinaryShareClass1 2023-12-31 03662247 c:OrdinaryShareClass1 2022-12-31 03662247 c:OrdinaryShareClass2 2023-01-01 2023-12-31 03662247 c:OrdinaryShareClass2 2023-12-31 03662247 c:OrdinaryShareClass2 2022-12-31 03662247 c:FRS102 2023-01-01 2023-12-31 03662247 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03662247 c:FullAccounts 2023-01-01 2023-12-31 03662247 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03662247 2 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 03662247














HERO MUSIC LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
HERO MUSIC LIMITED
REGISTERED NUMBER:03662247

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
53,306
75,911

Cash at bank and in hand
 5 
88,909
79,580

  
142,215
155,491

Creditors: amounts falling due within one year
 6 
(111,776)
(125,408)

Net current assets
  
 
 
30,439
 
 
30,083

Total assets less current liabilities
  
30,439
30,083

  

Net assets
  
30,439
30,083


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
30,339
29,983

  
30,439
30,083


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: 




A Heath
Director

Date: 13 September 2024

The notes on pages 2 to 4 form part of these financial statements.

Page 1

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

1.


General information

Hero Music Limited is a private company, limited by shares, registered in England and Wales, registration number 03662247. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.

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

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

 
2.3

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.

  
2.4

Royalties

(i) Royalties receivable are recognised at the year end date by the company.
 
(ii) Royalties payable are calculated by reference to statements of account used for determining royalties receivable.

  
2.5

Advances

(i) Advances from licences are carried forward as deferred income until the earlier of recoupment against contractual royalties due, agreement expiry or recognition that recoupment is unlikely to take place.
 
(ii) Advances made to artists in respect of future royalties are treated as current assets and written off to the profit and loss account when the royalties are recognised. Provision is made against an advance where it is considered that recoupment is unlikely to take place.

 
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.

 
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. 

Page 2

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

2.Accounting policies (continued)

 
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

 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.

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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

 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.

 
2.11

 Interest income

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


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).


4.


Debtors

2023
2022
£
£


Trade debtors
53,043
75,583

Other debtors
263
328

53,306
75,911


Page 3

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

5.


Cash

2023
2022
£
£

Cash at bank and in hand
88,909
79,580



6.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
65,809
80,677

Corporation tax
84
1,050

Other taxation and social security
11,590
11,194

Other creditors
32,013
30,487

Accruals
2,280
2,000

111,776
125,408



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



50 (2022 - 50) Ordinary 'A' shares of £1.00 each
50
50
50 (2022 - 50) Ordinary 'B' shares of £1.00 each
50
50

100

100




 
Page 4