Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseNo description of principal activity34truefalse 13649750 2023-01-01 2023-12-31 13649750 2023-12-31 13649750 2021-09-29 2022-12-31 13649750 2022-12-31 13649750 c:Director1 2023-01-01 2023-12-31 13649750 d:MotorVehicles 2023-01-01 2023-12-31 13649750 d:MotorVehicles 2023-12-31 13649750 d:MotorVehicles 2022-12-31 13649750 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13649750 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 13649750 d:OfficeEquipment 2023-01-01 2023-12-31 13649750 d:OfficeEquipment 2023-12-31 13649750 d:OfficeEquipment 2022-12-31 13649750 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13649750 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 13649750 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13649750 d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 13649750 d:CurrentFinancialInstruments 2023-12-31 13649750 d:CurrentFinancialInstruments 2022-12-31 13649750 d:Non-currentFinancialInstruments 2023-12-31 13649750 d:Non-currentFinancialInstruments 2022-12-31 13649750 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13649750 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13649750 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 13649750 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 13649750 d:ShareCapital 2023-12-31 13649750 d:ShareCapital 2022-12-31 13649750 d:RetainedEarningsAccumulatedLosses 2023-12-31 13649750 d:RetainedEarningsAccumulatedLosses 2022-12-31 13649750 c:FRS102 2023-01-01 2023-12-31 13649750 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 13649750 c:FullAccounts 2023-01-01 2023-12-31 13649750 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13649750 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 13649750 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 13649750 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 13649750 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 13649750 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 13649750


HANG LOOSE MEDIA GROUP LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
HANG LOOSE MEDIA GROUP LIMITED
REGISTERED NUMBER: 13649750

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
40,475
-

  
40,475
-

Current assets
  

Debtors: amounts falling due within one year
 5 
33,833
24,398

Cash at bank and in hand
 6 
359,129
150,218

  
392,962
174,616

Creditors: amounts falling due within one year
 7 
(93,530)
(64,614)

Net current assets
  
 
 
299,432
 
 
110,002

Total assets less current liabilities
  
339,907
110,002

Creditors: amounts falling due after more than one year
  
(19,957)
-

  

Net assets
  
319,950
110,002


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
319,850
109,902

  
319,950
110,002


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 period in question in accordance with section 476 of the Companies Act 2006.

Page 1

 
HANG LOOSE MEDIA GROUP LIMITED
REGISTERED NUMBER: 13649750
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 statement of income and retained earnings 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: 



Amanda C Lawson
Director
Date: 23 August 2024

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

Page 2

 
HANG LOOSE MEDIA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Hang Loose Media Group Limited is a private company, limited by share capital, registered in England and Wales.  
The company's registration number is registered 13649750.
The company's registered office is West Wing, The Hop Exchange, 24 Southwark Street, London England SE1 1TY. 

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 income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
HANG LOOSE MEDIA GROUP 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

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.

 
2.5

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.

 
2.6

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 balance sheet date in the countries where the Company operates and generates income.

Page 4

 
HANG LOOSE MEDIA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

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:

Motor vehicles
-
Office equipment
-
25%
Straight-line basis

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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

Page 5

 
HANG LOOSE MEDIA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

3.


Employees

2023
2022
£
£

Wages and salaries
111,167
82,536

Social security costs
7,851
4,202

Cost of defined contribution scheme
-
285

119,018
87,023


The average monthly number of employees, including directors, during the period was 3 (2022 - 4).


4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


Additions
52,420
1,547
53,967



At 31 December 2023

52,420
1,547
53,967



Depreciation


Charge for the period on owned assets
-
387
387


Charge for the period on financed assets
13,105
-
13,105



At 31 December 2023

13,105
387
13,492



Net book value



At 31 December 2023
39,315
1,160
40,475



At 31 December 2022
-
-
-

Page 6

 
HANG LOOSE MEDIA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
22,808
24,348

Other debtors
10,359
50

Prepayments and accrued income
666
-

33,833
24,398


Included within other debtors due within one year is a loan to Amanda Lawson, a director, amounting to £50 (2022 : £50).




6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
359,129
150,218

359,129
150,218



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
13,766
1,020

Corporation tax
61,346
29,538

Other taxation and social security
3,326
30,694

Obligations under finance lease and hire purchase contracts
11,624
-

Other creditors
1,468
1,362

Accruals and deferred income
2,000
2,000

93,530
64,614


Page 7

 
HANG LOOSE MEDIA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
19,957
-

19,957
-



9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
11,624
-

Between 1-5 years
22,278
-

33,902
-


10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £0 (2022 : £285). Contributions totalling £0 (2022 : £290) were payable to the fund at the balance sheet date and are included in creditors.


11.


Related party transactions

At the balance sheet date £950 (2022 : £950) was owed by the company to Andrew Yetzes a director of the company.

 
Page 8