Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312214259true2023-01-01false22falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02214259 2023-01-01 2023-12-31 02214259 2022-01-01 2022-12-31 02214259 2023-12-31 02214259 2022-12-31 02214259 2022-01-01 02214259 c:Director1 2023-01-01 2023-12-31 02214259 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 02214259 d:PlantMachinery 2023-01-01 2023-12-31 02214259 d:FurnitureFittings 2023-01-01 2023-12-31 02214259 d:OfficeEquipment 2023-01-01 2023-12-31 02214259 d:CurrentFinancialInstruments 2023-12-31 02214259 d:CurrentFinancialInstruments 2022-12-31 02214259 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 02214259 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 02214259 d:ShareCapital 2023-12-31 02214259 d:ShareCapital 2022-12-31 02214259 d:RetainedEarningsAccumulatedLosses 2023-12-31 02214259 d:RetainedEarningsAccumulatedLosses 2022-12-31 02214259 c:OrdinaryShareClass1 2023-01-01 2023-12-31 02214259 c:OrdinaryShareClass1 2023-12-31 02214259 c:OrdinaryShareClass1 2022-12-31 02214259 c:FRS102 2023-01-01 2023-12-31 02214259 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 02214259 c:FullAccounts 2023-01-01 2023-12-31 02214259 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02214259 d:Subsidiary1 2023-01-01 2023-12-31 02214259 d:Subsidiary1 1 2023-01-01 2023-12-31 02214259 d:Subsidiary2 2023-01-01 2023-12-31 02214259 d:Subsidiary2 1 2023-01-01 2023-12-31 02214259 d:Subsidiary3 2023-01-01 2023-12-31 02214259 d:Subsidiary3 1 2023-01-01 2023-12-31 02214259 2 2023-01-01 2023-12-31 02214259 6 2023-01-01 2023-12-31 02214259 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 02214259 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 02214259 d:OtherDeferredTax 2023-12-31 02214259 d:OtherDeferredTax 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 02214259














LA LENNOXA LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
LA LENNOXA LIMITED
REGISTERED NUMBER:02214259

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
502,513
502,513

  
502,513
502,513

Current assets
  

Debtors: amounts falling due within one year
 5 
670,539
648,127

Cash at bank and in hand
 6 
1,171,307
2,074,762

  
1,841,846
2,722,889

Creditors: amounts falling due within one year
 7 
(296,588)
(254,102)

Net current assets
  
 
 
1,545,258
 
 
2,468,787

Total assets less current liabilities
  
2,047,771
2,971,300

  

Net assets
  
2,047,771
2,971,300


Capital and reserves
  

Called up share capital 
 9 
200
200

Profit and loss account
  
2,047,571
2,971,100

  
2,047,771
2,971,300


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 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 on 19 September 2024.




R J Harris
Director

The notes on pages 2 to 7 form part of these financial statements.

1

 
LA LENNOXA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The principal activity of the company continued to be that of the management and exploitation of the talents of recordings artists.
The company is a private company limited by shares and is registered in England and Wales. The address of its registered office is 4 Jupiter Court, 10-12 Tolworth Rise, South Surbiton, Surrey, England, KT5 9NN.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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

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'.

 
2.3

Turnover

Turnover comprises royalty receipts, advances and miscellaneous income from the artist's performances, all stated after sales taxes and net of VAT.
Royalties receivable and royalties payable to producers are recognised in respect of each of the royalty accounting periods ending with the company's financial period.
Non-returnable, non-recoupable advances received are credited to the profit and loss account in the period in which they are contractually due. Costs in respect of these contracted amounts are also accrued as an expense in the same period as the income is recognised.

2

 
LA LENNOXA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Interest income

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

 
2.5

Pensions

Pension contributions are made in respect of a defined contribution scheme and are charged to the profit and loss account as incurred.

 
2.6

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; 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 balance sheet date.

 
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.

3

 
LA LENNOXA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.7
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 both reducing balance and straight line depreciation methods.

Depreciation is provided on the following basis:

L/Term leasehold property
-
Over the lease term
Leasehold improvements
-
20 years straight line
Fixtures and fittings
-
25% reducing balance
Office equipment
-
25% reducing balance

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

Valuation of investments

Investments held as fixed assets are shown at cost less provision for impairment.

 
2.9

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.

 
2.10

 Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.11

 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.

 
2.12

 Financial instruments

The company only enters into basic financial instruments 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 to related parties and investments in non-puttable ordinary shares.

 
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 year was 2 (2022 - 2).

4

 
LA LENNOXA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 January 2023
502,513



At 31 December 2023
502,513






Net book value



At 31 December 2023
502,513



At 31 December 2022
502,513


Subsidiary undertakings


The following were subsidiary undertakings of the company:

Name

Principal activity

Class of shares

Holding

La Lennoxa Touring Limited *
Holding company
Ordinary
100%
La Lennoxa Touring Inc. (indirectly held) **
Tour management company
Ordinary
100%
Hyper Kinetics Limited
Artistic creation company
Ordinary
100%

 


5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
454,702
352,560

Other debtors
-
45,399

Prepayments and accrued income
214,337
243,832

Deferred taxation
1,500
6,336

670,539
648,127


5

 
LA LENNOXA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,171,307
2,074,762



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
4,804
7,614

Amounts owed to group undertakings
97,529
97,529

Corporation tax
90,598
47,162

Other taxation and social security
19,380
24,052

Other creditors
18,334
19,753

Accruals and deferred income
65,943
57,992

296,588
254,102



8.


Deferred taxation




2023
2022


£

£






At beginning of year
6,336
93


Profit and loss account movement
(4,836)
6,243



At end of year
1,500
6,336

The deferred tax asset is made up as follows:

2023
2022
£
£


Fixed asset timing differences
-
6,336

Short term timing differences
1,500
-


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



200 (2022 - 200) Ordinary shares of £1.00 each
200
200


6

 
LA LENNOXA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Related party transactions

No disclosure has been made of transactions with wholly owned subsidiaries in accordance with FRS 102 section 1A paragraph 1AC.35.

The shareholder was owed £18,334 (2022 - £19,753) by the company at the year end. 

 
7