Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01false11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12699510 2023-04-01 2024-03-31 12699510 2022-04-01 2023-03-31 12699510 2024-03-31 12699510 2023-03-31 12699510 2022-04-01 12699510 c:Director1 2023-04-01 2024-03-31 12699510 d:OfficeEquipment 2023-04-01 2024-03-31 12699510 d:OfficeEquipment 2024-03-31 12699510 d:OfficeEquipment 2023-03-31 12699510 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12699510 d:CurrentFinancialInstruments 2024-03-31 12699510 d:CurrentFinancialInstruments 2023-03-31 12699510 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 12699510 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12699510 d:ShareCapital 2024-03-31 12699510 d:ShareCapital 2023-03-31 12699510 d:RetainedEarningsAccumulatedLosses 2024-03-31 12699510 d:RetainedEarningsAccumulatedLosses 2023-03-31 12699510 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 12699510 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 12699510 c:OrdinaryShareClass1 2023-04-01 2024-03-31 12699510 c:OrdinaryShareClass1 2024-03-31 12699510 c:OrdinaryShareClass1 2023-03-31 12699510 c:FRS102 2023-04-01 2024-03-31 12699510 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12699510 c:FullAccounts 2023-04-01 2024-03-31 12699510 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12699510 2 2023-04-01 2024-03-31 12699510 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 12699510














GODDARD MUSIC LTD

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
GODDARD MUSIC LTD
REGISTERED NUMBER:12699510

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
22,601
16,389

  
22,601
16,389

Current assets
  

Debtors: amounts falling due within one year
 5 
180,893
76,346

Cash at bank
 6 
65,232
97,863

  
246,125
174,209

Creditors: amounts falling due within one year
 7 
(96,121)
(90,910)

Net current assets
  
 
 
150,004
 
 
83,299

Total assets less current liabilities
  
172,605
99,688

Provisions for liabilities
  

Deferred tax
 8 
(5,650)
(4,097)

  
 
 
(5,650)
 
 
(4,097)

Net assets
  
166,955
95,591


Capital and reserves
  

Called up share capital 
 9 
1
1

Profit and loss account
  
166,954
95,590

  
166,955
95,591


Page 1

 
GODDARD MUSIC LTD
REGISTERED NUMBER:12699510
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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: 




A J Goddard
Director

Date: 8 January 2025

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

Page 2

 
GODDARD MUSIC LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Goddard Music Ltd is a private company, limited by shares, registered in England and Wales, registration number 12699510. The registered office address is 154 Kingsley Avenue, Kettering, England, NN16 9EX.
 
The principal activity of the company continued to be that of artistic creation.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
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 resulting from the settlement of transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

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

 
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, and other sales taxes.
Turnover from artistic creation activities is 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.
Income from performances are recognised once the performances have taken place.
Recharged income is recognised when the corresponding expenses have been incurred on behalf of other entities.
 
Page 3

 
GODDARD MUSIC LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Interest income

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

 
2.5

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 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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.6

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25%
reducing balance

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.

 
2.7

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

 
GODDARD MUSIC LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

 Cash

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

 
2.9

 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.

 
2.10

 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.

 
2.11

 Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the director, during the year was 1 (2023 - 1).


4.


Tangible fixed assets





Office equipment

£



Cost


At 1 April 2023
18,357


Additions
11,884



At 31 March 2024

30,241



Depreciation


At 1 April 2023
1,968


Charge for the year
5,672



At 31 March 2024

7,640



Net book value



At 31 March 2024
22,601



At 31 March 2023
16,389

Page 5

 
GODDARD MUSIC LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
49,153
25,574

Other debtors
105,030
42,599

Accrued income
26,710
8,173

180,893
76,346



6.


Cash

2024
2023
£
£

Cash at bank
65,232
97,863



7.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
5,000
32,450

Corporation tax
30,439
27,876

Other taxation and social security
2,841
1,477

Other creditors
7,361
1,200

Accruals
50,480
27,907

96,121
90,910



8.


Deferred taxation




2024
2023


£

£






At beginning of year
4,097
35


Charged to profit or loss
1,553
4,062



At end of year
5,650
4,097

Page 6

 
GODDARD MUSIC LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
 
8.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fixed asset timing differences
5,650
4,097

5,650
4,097


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) ordinary share of £1.00
1
1

 

10.


Transactions with the director

During the year the company advanced £103,401 (2023 - £96,684) to the director. As at the year end, the director owed £105,029 (2023 - £42,599) to the company. The loan is unsecured, repayable on demand and nterest has been charged at official rate.
During the year, dividends of £42,000 (2023 - £50,000) was paid to the director.

 
Page 7