Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-013falseNo description of principal activity3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00849871 2023-01-01 2023-12-31 00849871 2022-01-01 2022-12-31 00849871 2023-12-31 00849871 2022-12-31 00849871 c:Director1 2023-01-01 2023-12-31 00849871 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 00849871 d:Buildings d:ShortLeaseholdAssets 2023-12-31 00849871 d:Buildings d:ShortLeaseholdAssets 2022-12-31 00849871 d:FurnitureFittings 2023-01-01 2023-12-31 00849871 d:FurnitureFittings 2023-12-31 00849871 d:FurnitureFittings 2022-12-31 00849871 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00849871 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 00849871 d:OtherPropertyPlantEquipment 2023-12-31 00849871 d:OtherPropertyPlantEquipment 2022-12-31 00849871 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00849871 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00849871 d:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 00849871 d:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 00849871 d:CurrentFinancialInstruments 2023-12-31 00849871 d:CurrentFinancialInstruments 2022-12-31 00849871 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 00849871 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 00849871 d:ShareCapital 2023-12-31 00849871 d:ShareCapital 2022-12-31 00849871 d:RetainedEarningsAccumulatedLosses 2023-12-31 00849871 d:RetainedEarningsAccumulatedLosses 2022-12-31 00849871 c:FRS102 2023-01-01 2023-12-31 00849871 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 00849871 c:FullAccounts 2023-01-01 2023-12-31 00849871 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00849871 2 2023-01-01 2023-12-31 00849871 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 00849871










VALLEY MUSIC LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
VALLEY MUSIC LIMITED
REGISTERED NUMBER: 00849871

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
1
1

Tangible assets
 5 
84,669
85,151

  
84,670
85,152

Current assets
  

Debtors: amounts falling due within one year
 6 
403,361
744,931

Cash at bank and in hand
 7 
455,983
201,877

  
859,344
946,808

Creditors: amounts falling due within one year
 8 
(394,688)
(489,523)

Net current assets
  
 
 
464,656
 
 
457,285

Net assets
  
549,326
542,437


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
549,226
542,337

  
549,326
542,437


Page 1

 
VALLEY MUSIC LIMITED
REGISTERED NUMBER: 00849871
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 23 September 2024.




M Woodward
Director

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

Page 2

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

1.


General information

Valley Music Limited is a private company, limited by shares, incorporated in the United Kingdom and registered in England and Wales. The company’s registered office is 101 New Cavendish Street, 1st Floor South, London W1W 6XH

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

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.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
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.

Page 3

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

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

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:

Improvements
-
2% and 20% straight line
Fixtures, fittings & equipment
-
20% reducing balance
Art Works
-
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.

 
2.5

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

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 4

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

2.Accounting policies (continued)

 
2.9

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.

 
2.10

Interest income

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

 
2.11

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.


3.


Employees

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

Page 5

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

4.


Intangible assets




Copyrights

£



Cost


At 1 January 2023
1,823



At 31 December 2023

1,823



Amortisation


At 1 January 2023
1,822



At 31 December 2023

1,822



Net book value



At 31 December 2023
1



At 31 December 2022
1



Page 6

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

5.


Tangible fixed assets





Improve-    ments
Fixtures, fittings & equipment
Art Works
Total

£
£
£
£



Cost or valuation


At 1 January 2023
132,234
427,529
25,518
585,281


Additions
-
7,275
-
7,275



At 31 December 2023

132,234
434,804
25,518
592,556



Depreciation


At 1 January 2023
68,145
407,073
24,912
500,130


Charge for the year on owned assets
2,060
5,546
151
7,757



At 31 December 2023

70,205
412,619
25,063
507,887



Net book value



At 31 December 2023
62,029
22,185
455
84,669



At 31 December 2022
64,089
20,456
606
85,151


6.


Debtors

2023
2022
£
£


Trade debtors
165,010
198,000

Other debtors
223,849
533,614

Prepayments and accrued income
14,502
13,317

403,361
744,931



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
455,983
201,877


Page 7

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

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
244,608
134,176

Corporation tax
5,257
28,479

Other taxation and social security
12,979
59,340

Other creditors
-
138,933

Accruals and deferred income
131,844
128,595

394,688
489,523



9.


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 £791 (2022 - £784).


10.


Related party transactions

During the year, tour support amounting to £120,000 was charged by Yellow Step LLP, a Limited Liability Partnership in which the directors are members..

 
Page 8