Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312falseThe principal activity of the company continued to be that of an independent record label.2023-01-012truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11607248 2023-01-01 2023-12-31 11607248 2022-07-01 2022-12-31 11607248 2023-12-31 11607248 2022-12-31 11607248 c:Director1 2023-01-01 2023-12-31 11607248 d:CurrentFinancialInstruments 2023-12-31 11607248 d:CurrentFinancialInstruments 2022-12-31 11607248 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11607248 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11607248 d:ShareCapital 2023-12-31 11607248 d:ShareCapital 2022-12-31 11607248 d:RetainedEarningsAccumulatedLosses 2023-12-31 11607248 d:RetainedEarningsAccumulatedLosses 2022-12-31 11607248 c:OrdinaryShareClass1 2023-01-01 2023-12-31 11607248 c:OrdinaryShareClass1 2023-12-31 11607248 c:OrdinaryShareClass1 2022-12-31 11607248 c:FRS102 2023-01-01 2023-12-31 11607248 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11607248 c:FullAccounts 2023-01-01 2023-12-31 11607248 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11607248 2 2023-01-01 2023-12-31 11607248 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 11607248














MOVES RECORDINGS LTD

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
MOVES RECORDINGS LTD
REGISTERED NUMBER:11607248

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
1,113,960
590,954

Cash at bank
 5 
151
2,240

  
1,114,111
593,194

Creditors: amounts falling due within one year
 6 
(2,663,585)
(1,431,000)

Net current liabilities
  
 
 
(1,549,474)
 
 
(837,806)

Total assets less current liabilities
  
(1,549,474)
(837,806)

  

Net liabilities
  
(1,549,474)
(837,806)


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
(1,549,574)
(837,906)

  
(1,549,474)
(837,806)


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: 




P Harris
Director

Date: 18 December 2024

The notes on pages 2 to 4 form part of these financial statements.
Page 1

 
MOVES RECORDINGS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Moves Recordings Ltd is a private company, limited by shares, registered in England and Wales, registration number 11607248. 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 an independent record label.

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 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 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 2

 
MOVES RECORDINGS LTD
 
 
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

Debtors

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

 
2.7

Cash

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

 
2.8

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.

 
2.9

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.


Debtors

2023
2022
£
£


Trade debtors
275,833
2,400

Other debtors
790,618
541,794

Prepayments and accrued income
47,509
46,760

1,113,960
590,954



5.


Cash

2023
2022
£
£

Cash at bank
151
2,240


Page 3

 
MOVES RECORDINGS 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
816,463
45,207

Amounts owed to connected companies
437,932
497,954

Corporation tax
200
-

Other taxation and social security
-
27,250

Other creditors
-
32,103

Accruals
1,408,990
828,486

2,663,585
1,431,000



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



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



8.


Related party transactions

No disclosure has been made of transactions with other wholly owned group companies in accordance with FRS 102 Section 1A paragraph 1AC.35, as the company is itself a wholly owned subsidiary of Marathon Artists Limited.
 
Page 4