Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31true12022-11-01truefalse1The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09824237 2022-11-01 2023-10-31 09824237 2021-11-01 2022-10-31 09824237 2023-10-31 09824237 2022-10-31 09824237 c:Director1 2022-11-01 2023-10-31 09824237 d:Buildings 2022-11-01 2023-10-31 09824237 d:Buildings 2023-10-31 09824237 d:Buildings 2022-10-31 09824237 d:Buildings d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 09824237 d:PlantMachinery 2022-11-01 2023-10-31 09824237 d:PlantMachinery 2023-10-31 09824237 d:PlantMachinery 2022-10-31 09824237 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 09824237 d:ComputerEquipment 2022-11-01 2023-10-31 09824237 d:ComputerEquipment 2023-10-31 09824237 d:ComputerEquipment 2022-10-31 09824237 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 09824237 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 09824237 d:CurrentFinancialInstruments 2023-10-31 09824237 d:CurrentFinancialInstruments 2022-10-31 09824237 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 09824237 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 09824237 d:ShareCapital 2023-10-31 09824237 d:ShareCapital 2022-10-31 09824237 d:RetainedEarningsAccumulatedLosses 2023-10-31 09824237 d:RetainedEarningsAccumulatedLosses 2022-10-31 09824237 c:OrdinaryShareClass1 2022-11-01 2023-10-31 09824237 c:OrdinaryShareClass1 2023-10-31 09824237 c:OrdinaryShareClass1 2022-10-31 09824237 c:FRS102 2022-11-01 2023-10-31 09824237 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 09824237 c:FullAccounts 2022-11-01 2023-10-31 09824237 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 09824237 2 2022-11-01 2023-10-31 09824237 d:AcceleratedTaxDepreciationDeferredTax 2023-10-31 09824237 d:AcceleratedTaxDepreciationDeferredTax 2022-10-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 09824237














NPAP LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

 
NPAP LIMITED
REGISTERED NUMBER:09824237

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
20,390
24,253

  
20,390
24,253

Current assets
  

Debtors: amounts falling due within one year
 5 
89,521
56,935

Cash at bank
 6 
2,073,453
133,920

  
2,162,974
190,855

Creditors: amounts falling due within one year
 7 
(686,965)
(213,130)

Net current assets/(liabilities)
  
 
 
1,476,009
 
 
(22,275)

Total assets less current liabilities
  
1,496,399
1,978

Provisions for liabilities
  

Deferred tax
 8 
(3,527)
(4,195)

  
 
 
(3,527)
 
 
(4,195)

Net assets/(liabilities)
  
1,492,872
(2,217)


Capital and reserves
  

Called up share capital 
 9 
1
1

Profit and loss account
  
1,492,871
(2,218)

  
1,492,872
(2,217)

Page 1

 
NPAP LIMITED
REGISTERED NUMBER:09824237
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

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 by: 




N B Rogues
Director

Date: 30 October 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
NPAP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

NPAP Limited is a private company, limited by shares, registered in England and Wales, registration number 09824237. 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 activity.

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

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 are presented in the profit and loss account within 'administrative expenses'. All other foreign exchange gains and losses are presented in profit or loss.

 
2.3

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 are recognised when it is probable the company will receive the rights to the consideration due under the contract.
Royalties receivable are recognised in the accounting year in which it was received.
Advances received are recognised as income on receipt.

 
2.4

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.

 
2.5

Interest income

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

Page 3

 
NPAP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
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.

 
2.7

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 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. 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%
straight-line
Plant and machinery
-
20%
straight-line
Computer equipment
-
20%
straight-line

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.
 
 
2.9

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

Page 4

 
NPAP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

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


3.


Employees

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


4.


Tangible fixed assets





Freehold property
Plant and machinery
Computer equipment
Total

£
£
£
£



Cost 


At 1 November 2022
18,535
23,071
1,841
43,447



At 31 October 2023

18,535
23,071
1,841
43,447



Depreciation


At 1 November 2022
1,112
16,978
1,104
19,194

Charge for the year
371
3,124
368
3,863



At 31 October 2023

1,483
20,102
1,472
23,057



Net book value



At 31 October 2023
17,052
2,969
369
20,390



At 31 October 2022
17,423
6,093
737
24,253

Page 5

 
NPAP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
26,668
31,412

Other debtors
56,536
19,212

Prepayments
73
67

Tax recoverable
6,244
6,244

89,521
56,935



6.


Cash

2023
2022
£
£

Cash at bank
2,073,453
133,920



7.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
-
88,395

Corporation tax
538,589
28,379

Other taxation and social security
14,756
5,380

Other creditors
90,111
76,110

Accruals
43,509
14,866

686,965
213,130


Page 6

 
NPAP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

8.


Deferred taxation




2023


£






At beginning of year
4,195


Charged to profit or loss
668



At end of year
3,527

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
3,527
4,195


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) ordinary share of £1.00
1
1



10.


Transactions with the director

As at the year end, the company owed £618 (2022 -  Director owed £19,212 to the company) to the director. Interest at an official rate has been charged on this loan, the loan is unsecured and repayable on demand.
During the year the company paid dividends of £304,000 (2022 - £213,000) to the director.
 
Page 7