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Company registration number: 02539265
Cala Records Limited
Unaudited filleted financial statements
31 December 2023
Cala Records Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Cala Records Limited
Directors and other information
Director Mr Geoffrey Simon
Company number 02539265
Registered office 17 Shakespeare Gardens
East Finchley
London
N2 9LJ
Business address 17 Shakespeare Gardens
East Finchley
London
N2 9LJ
Accountants VSP Limited
2 Deansway
East Finchley
London
N2 0JF
Bankers HSBC Bank plc
Cala Records Limited
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 5 1 1
Tangible assets 6 244 325
_______ _______
245 326
Current assets
Stocks 24,500 24,500
Debtors 7 5,737 8,341
Cash at bank and in hand 3,335 17
_______ _______
33,572 32,858
Creditors: amounts falling due
within one year 8 ( 1,608,867) ( 1,606,124)
_______ _______
Net current liabilities ( 1,575,295) ( 1,573,266)
_______ _______
Total assets less current liabilities ( 1,575,050) ( 1,572,940)
_______ _______
Net liabilities ( 1,575,050) ( 1,572,940)
_______ _______
Capital and reserves
Called up share capital 9 1,000 1,000
Profit and loss account ( 1,576,050) ( 1,573,940)
_______ _______
Shareholders deficit ( 1,575,050) ( 1,572,940)
_______ _______
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 17 December 2024 , and are signed on behalf of the board by:
Mr Geoffrey Simon
Director
Company registration number: 02539265
Cala Records Limited
Statement of changes in equity
Year ended 31 December 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 January 2022 1,000 ( 1,563,247) ( 1,562,247)
Loss for the year ( 10,693) ( 10,693)
_______ _______ _______
Total comprehensive income for the year - ( 10,693) ( 10,693)
_______ _______ _______
At 31 December 2022 and 1 January 2023 1,000 ( 1,573,940) ( 1,572,940)
Loss for the year ( 2,110) ( 2,110)
_______ _______ _______
Total comprehensive income for the year - ( 2,110) ( 2,110)
_______ _______ _______
At 31 December 2023 1,000 ( 1,576,050) ( 1,575,050)
_______ _______ _______
Cala Records Limited
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 17 Shakespeare Gardens, East Finchley, London, N2 9LJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going basis. The validity of the going concern basis of the preparation is dependent upon the continued financial support of the directors, shareholders and the creditors of the company and on the ability of the company to continue trading. Should the directors, shareholders and the creditors of the company withdraw their support and the company is unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and reclassify fixed assets as current assets and long term liabilities as current liabilities. However, the directors, shareholders and the creditors do not intend to withdraw their support for the foreseeable future and on this basis the financial statements have been prepared on a going concern basis.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Intangible assets
Other intangible assets Total
£ £
Cost
At 1 January 2023 and 31 December 2023 227,915 227,915
_______ _______
Amortisation
At 1 January 2023 and 31 December 2023 227,914 227,914
_______ _______
Carrying amount
At 31 December 2023 1 1
_______ _______
At 31 December 2022 1 1
_______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 January 2023 and 31 December 2023 26,841 24,283 51,124
_______ _______ _______
Depreciation
At 1 January 2023 26,840 23,959 50,799
Charge for the year - 81 81
_______ _______ _______
At 31 December 2023 26,840 24,040 50,880
_______ _______ _______
Carrying amount
At 31 December 2023 1 243 244
_______ _______ _______
At 31 December 2022 1 324 325
_______ _______ _______
7. Debtors
2023 2022
£ £
Trade debtors 1,739 5,051
Other debtors 3,998 3,290
_______ _______
5,737 8,341
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 33,709 38,324
Other creditors 1,575,158 1,567,800
_______ _______
1,608,867 1,606,124
_______ _______
9. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary shares shares of £ 1.00 each 1,000 1,000 1,000 1,000
_______ _______ _______ _______