Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31No description of principal activity112023-01-01falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetruefalse 08244378 2023-01-01 2023-12-31 08244378 2022-01-01 2022-12-31 08244378 2023-12-31 08244378 2022-12-31 08244378 c:Director1 2023-01-01 2023-12-31 08244378 d:CurrentFinancialInstruments 2023-12-31 08244378 d:CurrentFinancialInstruments 2022-12-31 08244378 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08244378 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 08244378 d:ShareCapital 2023-12-31 08244378 d:ShareCapital 2022-12-31 08244378 d:RetainedEarningsAccumulatedLosses 2023-12-31 08244378 d:RetainedEarningsAccumulatedLosses 2022-12-31 08244378 c:FRS102 2023-01-01 2023-12-31 08244378 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08244378 c:FullAccounts 2023-01-01 2023-12-31 08244378 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08244378 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 08244378









FLY EYE RECORDINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
FLY EYE RECORDINGS LIMITED
REGISTERED NUMBER: 08244378

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
8,794
-

Cash at bank and in hand
 5 
3,122
3,474

  
11,916
3,474

Creditors: amounts falling due within one year
 6 
(85,384)
(78,688)

Net current liabilities
  
 
 
(73,468)
 
 
(75,214)

Total assets less current liabilities
  
(73,468)
(75,214)

  

Net liabilities
  
(73,468)
(75,214)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(73,469)
(75,215)

  
(73,468)
(75,214)


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 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 on 26 September 2024.



Mr A Wiles
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
FLY EYE RECORDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Fly Eye Recordings Limited is a private company limited by share capital, incorporated in England and Wales. The address of the registered office is 16 - 19 Eastcastle Street, London, W1W 8DY.

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.

 
2.2

Going concern

At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from fellow group companies that they will continue to give financial support to the company for a period of at least twelve months from the date of signing of these financial statements.
On this basis, the director has considered it appropriate to prepare the financial statements on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's financial statements may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The financial statements do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

 
2.3

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.

Page 2

 
FLY EYE RECORDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

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.

Turnover from royalties is recognised when the income is fixed or determinable and collectability is reasonably assured.

 
2.5

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.

 
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 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.

 
2.8

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.

Page 3

 
FLY EYE RECORDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.9

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 to related parties and investments in ordinary shares.


3.


Employees

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


4.


Debtors

2023
2022
£
£


Trade debtors
180
-

Prepayments and accrued income
8,614
-

8,794
-



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
3,122
3,474

3,122
3,474



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
640
127

Amounts owed to group undertakings
57,938
52,987

Corporation tax
409
-

Other creditors
23,724
23,724

Accruals and deferred income
2,673
1,850

85,384
78,688


Page 4

 
FLY EYE RECORDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Related party transactions

At the balance sheet date an amount of £23,724 (2022: £23,724) was due to the director. This amount comprises expenses borne by him on behalf of the company. This amount is unsecured, interest free and repayable on demand.
Included in creditors are amounts totalling £57,938 (2022: £52,987) due to fellow group companies. The amounts comprise net advances made and expenses borne by those companies on behalf of this company. The amounts are unsecured, interest free and repayable on demand.

 
Page 5