Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01false22truetruefalse 12408104 2023-01-01 2023-12-31 12408104 2022-07-01 2022-12-31 12408104 2023-12-31 12408104 2022-12-31 12408104 c:Director1 2023-01-01 2023-12-31 12408104 d:ComputerEquipment 2023-01-01 2023-12-31 12408104 d:ComputerEquipment 2023-12-31 12408104 d:ComputerEquipment 2022-12-31 12408104 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12408104 d:CurrentFinancialInstruments 2023-12-31 12408104 d:CurrentFinancialInstruments 2022-12-31 12408104 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12408104 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12408104 d:ShareCapital 2023-12-31 12408104 d:ShareCapital 2022-12-31 12408104 d:SharePremium 2023-12-31 12408104 d:SharePremium 2022-12-31 12408104 d:RetainedEarningsAccumulatedLosses 2023-12-31 12408104 d:RetainedEarningsAccumulatedLosses 2022-12-31 12408104 c:OrdinaryShareClass1 2023-01-01 2023-12-31 12408104 c:OrdinaryShareClass1 2023-12-31 12408104 c:OrdinaryShareClass1 2022-12-31 12408104 c:FRS102 2023-01-01 2023-12-31 12408104 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12408104 c:FullAccounts 2023-01-01 2023-12-31 12408104 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12408104 2 2023-01-01 2023-12-31 12408104 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 12408104














NEW SOIL LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
NEW SOIL LIMITED
REGISTERED NUMBER:12408104

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
527
737

  
527
737

Current assets
  

Debtors: amounts falling due within one year
 5 
198,968
121,297

Cash at bank
 6 
679
1,322

  
199,647
122,619

Creditors: amounts falling due within one year
 7 
(530,123)
(340,651)

Net current liabilities
  
 
 
(330,476)
 
 
(218,032)

Total assets less current liabilities
  
(329,949)
(217,295)

  

Net liabilities
  
(329,949)
(217,295)


Capital and reserves
  

Called up share capital 
 8 
100
100

Share premium account
  
89,990
89,990

Profit and loss account
  
(420,039)
(307,385)

  
(329,949)
(217,295)


Page 1

 
NEW SOIL LIMITED
REGISTERED NUMBER:12408104
    
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: 




T Giraud
Director

Date: 18 December 2024

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

Page 2

 
NEW SOIL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

New Soil Limited is a private company, limited by shares, registered in England and Wales, registration number 12408104. 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 12 months following the closing of the 2023 accounting period. 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 and cash equivalents are presented in the profit and loss account within 'administrative expenses'. All other foreign exchange gains and losses are presented in profit or loss.

 
2.4

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 independent record label is recognised when it is probable the company will receive the rights to the consideration due under the contract.
Royalties receivable are recognised at the year end date by the company. Royalties payable are calculated by reference to statements of account used for determining royalties receivable.

Page 3

 
NEW SOIL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Interest income

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

 
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 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.

 
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:

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.

 
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.

Page 4

 
NEW SOIL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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 2 (2022 - 2).


4.


Tangible fixed assets





Computer equipment

£



Cost


At 1 January 2023
1,053



At 31 December 2023

1,053



Depreciation


At 1 January 2023
316


Charge for the year 
210



At 31 December 2023

526



Net book value



At 31 December 2023
527



At 31 December 2022
737

Page 5

 
NEW SOIL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
31,848
8,224

Amounts owed by connected companies
-
20,000

Other debtors
163,928
91,607

Prepayment and accrued income
3,192
1,466

198,968
121,297



6.


Cash

2023
2022
£
£

Cash at bank
679
1,322



7.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
107,695
8,428

Amounts owed to connected companies
357,993
283,322

Corporation tax
200
-

Accruals
64,235
48,901

530,123
340,651



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



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



9.


Commitments under operating leases

The company had £NIL (2022 - £20,000) of commitments under non-cancellable operating leases at the balance sheet date.

Page 6

 
NEW SOIL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Related party transactions

Included within debtors at the year end, the company was owed £NIL (period ended 31 December 2022 - £20,000) by its associates. These loans are unsecured, interest free and repayable on demand.
Included within creditors at the year end, the company owed £357,993 (period ended 31 December 2022 - £283,322) to its associates. These loans are unsecured, interest free and repayable on demand.

 
Page 7