Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-311false2023-01-01Music and video publishers1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02975530 2023-01-01 2023-12-31 02975530 2022-01-01 2022-12-31 02975530 2023-12-31 02975530 2022-12-31 02975530 c:CompanySecretary1 2023-01-01 2023-12-31 02975530 c:Director1 2023-01-01 2023-12-31 02975530 c:RegisteredOffice 2023-01-01 2023-12-31 02975530 d:MotorVehicles 2023-01-01 2023-12-31 02975530 d:MotorVehicles 2023-12-31 02975530 d:MotorVehicles 2022-12-31 02975530 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02975530 d:CurrentFinancialInstruments 2023-12-31 02975530 d:CurrentFinancialInstruments 2022-12-31 02975530 d:Non-currentFinancialInstruments 2023-12-31 02975530 d:Non-currentFinancialInstruments 2022-12-31 02975530 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 02975530 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 02975530 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 02975530 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 02975530 d:ShareCapital 2023-12-31 02975530 d:ShareCapital 2022-12-31 02975530 d:RetainedEarningsAccumulatedLosses 2023-12-31 02975530 d:RetainedEarningsAccumulatedLosses 2022-12-31 02975530 c:FRS102 2023-01-01 2023-12-31 02975530 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 02975530 c:FullAccounts 2023-01-01 2023-12-31 02975530 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02975530 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 02975530














BROADLEY MUSIC (INTERNATIONAL) LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2023

 
BROADLEY MUSIC (INTERNATIONAL) LIMITED
 
 
COMPANY INFORMATION


Director
E Elias 




Company secretary
J Elias



Registered number
02975530



Registered office
5 Elstree Gate
Elstree Way

Borehamwood

Hertfordshire

United Kingdom

WD6 1JD




Accountants
Sopher + Co LLP
Chartered Accountants

5 Elstree Gate

Elstree Way

Borehamwood

Hertfordshire

WD6 1JD





 
BROADLEY MUSIC (INTERNATIONAL) LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 7


 
BROADLEY MUSIC (INTERNATIONAL) LIMITED
REGISTERED NUMBER:02975530

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
12,345
16,460

  
12,345
16,460

Current assets
  

Debtors: amounts falling due after more than one year
 5 
8,571
-

Debtors: amounts falling due within one year
 5 
2,005,553
2,185,170

Cash at bank and in hand
  
816,715
132,235

  
2,830,839
2,317,405

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(394,460)
(491,657)

Net current assets
  
 
 
2,436,379
 
 
1,825,748

Total assets less current liabilities
  
2,448,724
1,842,208

Creditors: amounts falling due after more than one year
 7 
(514,286)
(16,667)

Provisions for liabilities
  

Deferred tax
  
(3,086)
(4,115)

  
 
 
(3,086)
 
 
(4,115)

Net assets
  
1,931,352
1,821,426


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,931,252
1,821,326

  
1,931,352
1,821,426


Page 1

 
BROADLEY MUSIC (INTERNATIONAL) LIMITED
REGISTERED NUMBER:02975530
    
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 year 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: 




E Elias
Director

Date: 17 September 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
BROADLEY MUSIC (INTERNATIONAL) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Broadley Music (International) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, United Kingdom, WD6 1JD.
The principal activity of the company continued to be that of music and video publishers.
The company's functional and presentational currency is £ Sterling.

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

Turnover

Turnover represents net income of publishing and royalties received, excluding value added tax. Royalty income is recognised in the period in which it becomes receivable and publishing income is recognised at the point of sale.

 
2.3

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 reporting 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 reporting 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 reporting date.

Page 3

 
BROADLEY MUSIC (INTERNATIONAL) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%

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.

 
2.5

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.

 
2.6

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.

 
2.7

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.

 
2.8

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Page 4

 
BROADLEY MUSIC (INTERNATIONAL) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)


Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 5

 
BROADLEY MUSIC (INTERNATIONAL) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Motor vehicles

£



Cost or valuation


At 1 January 2023
39,014



At 31 December 2023

39,014



Depreciation


At 1 January 2023
22,554


Charge for the year on owned assets
4,115



At 31 December 2023

26,669



Net book value



At 31 December 2023
12,345



At 31 December 2022
16,460


5.


Debtors

2023
2022
£
£

Due after more than one year

Prepayments and accrued income
8,571
-

8,571
-


2023
2022
£
£

Due within one year

Trade debtors
-
5,800

Amounts owed by group undertakings
1,967,392
2,148,325

Other debtors
36,732
31,045

Prepayments and accrued income
1,429
-

2,005,553
2,185,170


Page 6

 
BROADLEY MUSIC (INTERNATIONAL) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
6,540
6,540

Amounts owed to group undertakings
175,785
182,449

Corporation tax
34,756
27,666

Other creditors
7,000
7,000

Accruals and deferred income
170,379
268,002

394,460
491,657



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Accruals and deferred income
514,286
16,667

514,286
16,667



8.


Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
Included within other debtors are amounts totalling £32,127 (2022 - £31,045) owed by related parties.  These amounts are interest free loans, repayable on demand to companies in which the Director has a material interest.


9.


Controlling party

The immediate and ultimate parent undertaking and ultimate controlling party is The Broadley Entertainment Group Limited, incorporated in England and Wales.

 
Page 7