Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-0143truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14030812 2023-01-01 2023-12-31 14030812 2022-01-01 2022-12-31 14030812 2023-12-31 14030812 2022-12-31 14030812 c:Director5 2023-01-01 2023-12-31 14030812 d:CurrentFinancialInstruments 2023-12-31 14030812 d:CurrentFinancialInstruments 2022-12-31 14030812 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 14030812 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 14030812 d:ShareCapital 2023-12-31 14030812 d:ShareCapital 2022-12-31 14030812 d:RetainedEarningsAccumulatedLosses 2023-12-31 14030812 d:RetainedEarningsAccumulatedLosses 2022-12-31 14030812 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 14030812 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 14030812 c:OrdinaryShareClass1 2023-01-01 2023-12-31 14030812 c:OrdinaryShareClass1 2023-12-31 14030812 c:OrdinaryShareClass1 2022-12-31 14030812 c:FRS102 2023-01-01 2023-12-31 14030812 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 14030812 c:FullAccounts 2023-01-01 2023-12-31 14030812 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 14030812 2 2023-01-01 2023-12-31 14030812 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 14030812














REVIVAL RECORDS LTD

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
REVIVAL RECORDS LTD
REGISTERED NUMBER:14030812

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
7,933
18,583

Cash at bank
 5 
15,292
40,661

  
23,225
59,244

Creditors: amounts falling due within one year
 6 
(470,275)
(161,574)

Net current liabilities
  
 
 
(447,050)
 
 
(102,330)

Total assets less current liabilities
  
(447,050)
(102,330)

  

Net liabilities
  
(447,050)
(102,330)


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
(447,150)
(102,430)

  
(447,050)
(102,330)


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 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 by: 




A J Montgomerie
Director

Date: 17 October 2024

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

Page 1

 
REVIVAL RECORDS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Revival Records Ltd is a private company, limited by shares, registered in England and Wales, registration number 14030812. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
The principal activity of the company continued to be that of sound recording and music publishing.

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

 
2.2

Going concern

The financial statements have been prepared on the going concern basis as the directors have confirmed they will continue to provide necessary funding in order for the company to maintain operations and meet liabilities in full for at least the next 12 months. On this basis, the directors are satisfied that the financial statements should be prepared on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

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

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 year 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 that relate to borrowings and cash are presented in the profit and loss account within 'administration expenses'. All other foreign exchange gains and losses are presented in profit or loss.

 
2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from sound recording and music publishing activities is recognised when it is probable the company will receive the rights to the consideration due under the contract.

 
2.5

Interest income

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

Page 2

 
REVIVAL RECORDS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

Current and deferred 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 corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.9

Cash

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

 
2.10

 Creditors

Short-term creditors are measured at the transaction price. Other financial are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

 
REVIVAL RECORDS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

 Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

 Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors, trade and other creditors and loans with related parties.


3.


Employees

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


4.


Debtors

2023
2022
£
£


Trade debtors
2,790
1,280

Other debtors
2,142
15,829

Prepayments and accrued income
2,981
1,474

Deferred taxation
20
-

7,933
18,583



5.


Cash

2023
2022
£
£

Cash at bank
15,292
40,661


Page 4

 
REVIVAL RECORDS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
2,481
4,193

Other taxation and social security
1,761
-

Other creditors
458,477
154,086

Accruals and deferred income
7,556
3,295

470,275
161,574



7.


Deferred taxation




2023


£






Charged to profit or loss
(20)



At end of year
(20)

The deferred tax asset is made up as follows:

2023
2022
£
£


Short term timing differences
(20)
-


8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



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 £642 (2022 - £NIL). Included in other creditors at the year end there is an amount payable of £191 (2022 - £NIL).


10.


Transactions with the director

As at the year end, the company owed £454,086 (2022 - £154,086) to a director. The loan is interest free, unsecured and repayable on demand.
 
Page 5