Caseware UK (AP4) 2023.0.135 2023.0.135 2023-01-01falseNo description of principal activity11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11332158 2023-01-01 2023-12-31 11332158 2022-01-01 2022-12-31 11332158 2023-12-31 11332158 2022-12-31 11332158 c:Director1 2023-01-01 2023-12-31 11332158 d:ComputerEquipment 2023-01-01 2023-12-31 11332158 d:ComputerEquipment 2023-12-31 11332158 d:ComputerEquipment 2022-12-31 11332158 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11332158 d:PatentsTrademarksLicencesConcessionsSimilar 2023-01-01 2023-12-31 11332158 d:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 11332158 d:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 11332158 d:CurrentFinancialInstruments 2023-12-31 11332158 d:CurrentFinancialInstruments 2022-12-31 11332158 d:Non-currentFinancialInstruments 2023-12-31 11332158 d:Non-currentFinancialInstruments 2022-12-31 11332158 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11332158 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11332158 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 11332158 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 11332158 d:ShareCapital 2023-12-31 11332158 d:ShareCapital 2022-12-31 11332158 d:SharePremium 2023-12-31 11332158 d:SharePremium 2022-12-31 11332158 d:RetainedEarningsAccumulatedLosses 2023-12-31 11332158 d:RetainedEarningsAccumulatedLosses 2022-12-31 11332158 c:OrdinaryShareClass1 2023-01-01 2023-12-31 11332158 c:OrdinaryShareClass1 2023-12-31 11332158 c:OrdinaryShareClass1 2022-12-31 11332158 c:OrdinaryShareClass2 2023-01-01 2023-12-31 11332158 c:OrdinaryShareClass2 2023-12-31 11332158 c:OrdinaryShareClass2 2022-12-31 11332158 c:FRS102 2023-01-01 2023-12-31 11332158 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11332158 c:FullAccounts 2023-01-01 2023-12-31 11332158 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11332158 d:PatentsTrademarksLicencesConcessionsSimilar d:InternallyGeneratedIntangibleAssets 2023-01-01 2023-12-31 11332158 6 2023-01-01 2023-12-31 11332158 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-01-01 2023-12-31 11332158 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 11332158













Amazing Music America Limited

Financial statements
Information for filing with the registrar

31 December 2023




 
Amazing Music America Limited


Balance sheet
At 31 December 2023

As restated
2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
2,154,553
956,577

Tangible fixed assets
 5 
-
224

Fixed asset investments
  
566,659
838,162

  
2,721,212
1,794,963

Current assets
  

Debtors
 7 
24,025
37,543

Cash at bank and in hand
  
27,989
1,283

  
52,014
38,826

Creditors: amounts falling due within one year
 8 
(1,143,155)
(159,202)

Net current liabilities
  
 
 
(1,091,141)
 
 
(120,376)

Total assets less current liabilities
  
1,630,071
1,674,587

Creditors: amounts falling due after more than one year
 9 
(16,884)
(25,504)

Shareholders' funds
  

Net assets
  
1,613,187
1,649,083


Capital and reserves
  

Called up share capital 
 10 
122
122

Share premium account
  
3,061,178
3,061,178

Profit and loss account
  
(1,448,113)
(1,412,217)

Shareholders' funds
  
1,613,187
1,649,083


1

 
Amazing Music America Limited

    
Balance sheet (continued)
At 31 December 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 statement of comprehensive income 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 on 6 March 2025.




P A Campbell
Director

Registered number: 11332158
The notes on pages 3 to 8 form part of these financial statements. 

2

 
Amazing Music America Limited
 
 

Notes to the financial statements
Year ended 31 December 2023

1.


General information

Amazing Music America Limited ('the company') is a private company limited by shares, incorporated and domiciled in the United Kingdom and registered in England. The address of the registered office is Amazing Towers, Church Street, Gateshead, NE8 2AT.

2.Accounting policies

 
2.1

Statement of compliance

The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS 102) and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis, the validity of which depends
upon the continued support of the directors and shareholder. The directors/shareholder have confirmed their willingness to provide the requisite support for a period of at least 12 months from the date of signing these financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

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 period 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.

 
2.4

Revenue

Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

 
2.5

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. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

3

 
Amazing Music America Limited
 

 
Notes to the financial statements
Year ended 31 December 2023

2.Accounting policies (continued)

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Development costs
-
10
years

The useful lives and residual values of capitalised development costs are reviewed at the end of each reporting period.  The effect of any change is accounted for prospectively.

 
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
-
33%

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

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.


3.


Employees

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

4

 
Amazing Music America Limited
 
 

Notes to the financial statements
Year ended 31 December 2023

4.


Intangible assets




 Development costs

£



Cost


At 1 January 2023
956,577


Additions
1,331,084



At 31 December 2023

2,287,661



Amortisation


Charge for the year 
133,108



At 31 December 2023

133,108



Net book value



At 31 December 2023
2,154,553



At 31 December 2022
956,577



5

 
Amazing Music America Limited
 
 

Notes to the financial statements
Year ended 31 December 2023

5.


Tangible fixed assets





Computer equipment

£



Cost 


At 1 January 2023
1,010



At 31 December 2023

1,010



Depreciation


At 1 January 2023
786


Charge for the year
224



At 31 December 2023

1,010



Net book value



At 31 December 2023
-



At 31 December 2022
224


6.


Fixed asset investments





Loans to subsidiaries
Loans to associates
Total

£
£
£



Cost 


At 1 January 2023
153,963
684,198
838,161


Repayments
-
(271,501)
(271,501)



At 31 December 2023
153,963
412,697
566,660






Net book value



At 31 December 2023
153,963
412,697
566,660



At 31 December 2022
153,963
684,198
838,161

6

 
Amazing Music America Limited
 
 

Notes to the financial statements
Year ended 31 December 2023

7.


Debtors

2023
2022
£
£


Trade debtors
-
13

Other debtors
24,025
37,530

24,025
37,543



8.


Creditors: amounts falling due within one year

2023
2022
£
£

Bank overdrafts
21,272
-

Bank loans
10,125
9,492

Trade creditors
533,131
143,627

Group undertakings
538,723
-

Other creditors
34,904
1,083

Accruals and deferred income
5,000
5,000

1,143,155
159,202



9.


Creditors: amounts falling due after more than one year

2023
2022
£
£

Bank loans
16,884
25,504

16,884
25,504


7

 
Amazing Music America Limited
 
 

Notes to the financial statements
Year ended 31 December 2023

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10,000 (2022 - 10,000) A Ordinary shares of £0.01 each
100.00
100.00
2,240 (2022 - 2,240) Ordinary shares of £0.01 each
22.40
22.40

122.40

122.40



11.


Prior year adjustment

Following a review, the director has determined that the accounting treatment of development costs in the prior year was incorrect. Specifically, certain development costs that met the criteria for capitalisation under the relevant accounting standards were expensed instead.
As a result, a prior year adjustment has been made to capitalise these costs, leading to:
A decrease in previously reported expenses by £956,577
A corresponding increase in development costs recognised on the balance sheet by £956,577. This adjustment has been reflected retrospectively in accordance with applicable accounting standards.

 
8