Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-0133truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00733055 2023-01-01 2023-12-31 00733055 2022-01-01 2022-12-31 00733055 2023-12-31 00733055 2022-12-31 00733055 c:Director3 2023-01-01 2023-12-31 00733055 d:Buildings 2023-01-01 2023-12-31 00733055 d:Buildings 2023-12-31 00733055 d:Buildings 2022-12-31 00733055 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00733055 d:PlantMachinery 2023-01-01 2023-12-31 00733055 d:PlantMachinery 2023-12-31 00733055 d:PlantMachinery 2022-12-31 00733055 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00733055 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00733055 d:CurrentFinancialInstruments 2023-12-31 00733055 d:CurrentFinancialInstruments 2022-12-31 00733055 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 00733055 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 00733055 d:ShareCapital 2023-12-31 00733055 d:ShareCapital 2022-12-31 00733055 d:RetainedEarningsAccumulatedLosses 2023-12-31 00733055 d:RetainedEarningsAccumulatedLosses 2022-12-31 00733055 c:OrdinaryShareClass1 2023-01-01 2023-12-31 00733055 c:OrdinaryShareClass1 2023-12-31 00733055 c:FRS102 2023-01-01 2023-12-31 00733055 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 00733055 c:FullAccounts 2023-01-01 2023-12-31 00733055 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00733055 2 2023-01-01 2023-12-31 00733055 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 00733055














BLUE MOUNTAIN MUSIC LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
BLUE MOUNTAIN MUSIC LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 6


 
BLUE MOUNTAIN MUSIC LIMITED
REGISTERED NUMBER:00733055

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
234,961
250,446

  
234,961
250,446

Current assets
  

Debtors: amounts falling due within one year
 5 
2,460,635
19,565

Cash at bank and in hand
 6 
3,967
23,678

  
2,464,602
43,243

Creditors: amounts falling due within one year
 7 
(10,132,870)
(7,831,049)

Net current liabilities
  
 
 
(7,668,268)
 
 
(7,787,806)

Total assets less current liabilities
  
(7,433,307)
(7,537,360)

  

Net liabilities
  
(7,433,307)
(7,537,360)


Capital and reserves
  

Called up share capital 
 8 
200
200

Profit and loss account
  
(7,433,507)
(7,537,560)

  
(7,433,307)
(7,537,360)


1

 
BLUE MOUNTAIN MUSIC LIMITED
REGISTERED NUMBER:00733055
    
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 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: 




................................................
J P Dowling
Director

Date: 22 October 2024

The notes on pages 3 to 6 form part of these financial statements.

2

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

1.


General information

Blue Mountain Music Limited is a private company, limited by shares, registered in England and Wales, registration number 00733055. The registered office address is 125 Wood Street, London, EC2V 7AW.
 
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 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

Going concern

The financial statements have been prepared on the going concern basis as the directors have confirmed that the shareholders 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 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 Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Turnover

Turnover comprises fees receivable from sound recording and music publishing. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

3

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

2.Accounting policies (continued)

 
2.5

Interest income

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

 
2.6

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.

 
2.7

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.

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

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:

Freehold property
-
2%
Plant and machinery
-
25%

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.

4

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

2.Accounting policies (continued)

 
2.9

Debtors

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

 
2.10

 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.

 
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 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 and from related parties.


3.


Employees

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


4.


Tangible fixed assets





Land & buildings
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 January 2023
774,242
525,575
1,299,817



At 31 December 2023

774,242
525,575
1,299,817



Depreciation


At 1 January 2023
523,796
525,575
1,049,371


Charge for the year on owned assets
15,485
-
15,485



At 31 December 2023

539,281
525,575
1,064,856



Net book value



At 31 December 2023
234,961
-
234,961



At 31 December 2022
250,446
-
250,446

5

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

5.


Debtors

2023
2022
£
£


Other debtors
2,460,635
19,565



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
3,967
23,678



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
2,504,529
-

Corporation tax
5,100
5,100

Other taxation and social security
21,127
19,972

Other creditors
7,345,314
7,728,866

Accruals and deferred income
256,800
77,111

10,132,870
7,831,049


The loan is limited recourse and is secured by a charge over the freehold property held by the company.

The loan was secured by personal guarantees from directors.

8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



200 Ordinary shares of £1.00 each
200
200



9.


Related party transactions

Included in other creditors is £131,659 (2022 - £131,659) due to a director. The loan is repayable on demand and interest free.

 
6