Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.1true2023-06-01falseThe principal activity of the company continued to be that of a song writer/musician/touring artist.1truefalse 08531488 2023-06-01 2024-05-31 08531488 2022-06-01 2023-05-31 08531488 2024-05-31 08531488 2023-05-31 08531488 c:Director1 2023-06-01 2024-05-31 08531488 d:PlantMachinery 2023-06-01 2024-05-31 08531488 d:PlantMachinery 2024-05-31 08531488 d:PlantMachinery 2023-05-31 08531488 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 08531488 d:ComputerEquipment 2023-06-01 2024-05-31 08531488 d:ComputerEquipment 2024-05-31 08531488 d:ComputerEquipment 2023-05-31 08531488 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 08531488 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 08531488 d:CurrentFinancialInstruments 2024-05-31 08531488 d:CurrentFinancialInstruments 2023-05-31 08531488 d:Non-currentFinancialInstruments 2024-05-31 08531488 d:Non-currentFinancialInstruments 2023-05-31 08531488 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 08531488 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 08531488 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 08531488 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 08531488 d:ShareCapital 2024-05-31 08531488 d:ShareCapital 2023-05-31 08531488 d:RetainedEarningsAccumulatedLosses 2024-05-31 08531488 d:RetainedEarningsAccumulatedLosses 2023-05-31 08531488 d:AcceleratedTaxDepreciationDeferredTax 2024-05-31 08531488 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 08531488 c:OrdinaryShareClass1 2023-06-01 2024-05-31 08531488 c:OrdinaryShareClass1 2024-05-31 08531488 c:OrdinaryShareClass1 2023-05-31 08531488 c:FRS102 2023-06-01 2024-05-31 08531488 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 08531488 c:FullAccounts 2023-06-01 2024-05-31 08531488 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 08531488 2 2023-06-01 2024-05-31 08531488 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 08531488














NICK HEYWARD LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

 
NICK HEYWARD LIMITED
REGISTERED NUMBER:08531488

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
7,939
8,160

  
7,939
8,160

Current assets
  

Stocks
 5 
1,500
1,160

Debtors: amounts falling due within one year
 6 
43,552
106,438

Cash at bank
 7 
38,157
79,708

  
83,209
187,306

Creditors: amounts falling due within one year
 8 
(49,335)
(106,022)

Net current assets
  
 
 
33,874
 
 
81,284

Total assets less current liabilities
  
41,813
89,444

Creditors: amounts falling due after more than one year
 9 
(19,063)
(29,099)

Provisions for liabilities
  

Deferred tax
 10 
(1,913)
(1,244)

  
 
 
(1,913)
 
 
(1,244)

Net assets
  
20,837
59,101


Capital and reserves
  

Called up share capital 
 11 
1
1

Profit and loss account
  
20,836
59,100

  
20,837
59,101


Page 1

 
NICK HEYWARD LIMITED
REGISTERED NUMBER:08531488
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 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: 




N P Heyward
Director

Date: 20 March 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
NICK HEYWARD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Nick Heyward Limited is a private company, limited by shares, registered in England and Wales, registration number 08531488. 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 a song writer/musician/touring artist.

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 requirements of the Companies Act 2006.

 
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 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.

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

 
2.3

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, value added tax and other sales taxes.
Turnover from song writer/musician/touring artists activities are 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
.
Advances to the company are recognised in the profit and loss account once the obligation to provide the services has been fulfilled.

 
2.4

Interest income

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

 
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.

Page 3

 
NICK HEYWARD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.6

Borrowing costs

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

 
2.7

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.8

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.


Page 4

 
NICK HEYWARD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.9

 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:

Plant and machinery
-
25%
reducing balance
Computer 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.

 
2.10

 Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

 Debtors

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

 
2.12

 Cash

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

 
2.13

 Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities including bank loans are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

 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.
 
 
2.15

 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.

Page 5

 
NICK HEYWARD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

3.


Employees

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


4.


Tangible fixed assets





Plant and machinery
Computer equipment
Total

£
£
£



Cost 


At 1 June 2023
5,725
19,938
25,663


Additions
2,084
-
2,084



At 31 May 2024

7,809
19,938
27,747



Depreciation


At 1 June 2023
1,602
15,901
17,503


Charge for the year
1,295
1,010
2,305



At 31 May 2024

2,897
16,911
19,808



Net book value



At 31 May 2024
4,912
3,027
7,939



At 31 May 2023
4,123
4,037
8,160


5.


Stocks

2024
2023
£
£

Closing stocks
1,500
1,160


Page 6

 
NICK HEYWARD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

6.


Debtors

2024
2023
£
£


Trade debtors
7,104
54,965

Other debtors
35,961
43,434

Prepayments and accrued income
487
8,039

43,552
106,438



7.


Cash

2024
2023
£
£

Cash at bank
38,157
79,708

Less : bank overdrafts
-
(132)

38,157
79,576



8.


Creditors: amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
132

Bank loans
10,035
9,787

Trade creditors
118
4,582

Corporation tax
23,549
17,589

Other taxation and social security
4,337
19,429

Accruals and deferred income
11,296
54,503

49,335
106,022


The bank loan of £10,035 (2023 - £9,787) included in creditors due within one year is the Coronavirus Bounce Back Loan, and it is fully guaranteed by the government.


9.


Creditors: amounts falling due after more than one year

2024
2023
£
£

Bank loans
19,063
29,099


The bank loan of £19,063 (2023 - £29,099) included in creditors due after more than one year is the Coronavirus Bounce Back Loan, and it is fully guaranteed by the government.

Page 7

 
NICK HEYWARD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

10.


Deferred taxation




2024


£






At beginning of year
1,244


Charged to profit or loss
(669)



At end of year
1,913

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fixed asset timing differences
1,913
1,244


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



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

12.


 
Pension commitments

The company operates a defined contribution scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted £2,250 (2023 - £NIL).
 

13.


Transactions with the director

During the year, the company advanced £13,015 (2023 - £98,260) to the director. As at the year end, the director owed £35,961 to  the company (2023 - £43,434 ). This loan is unsecured, repayable on demand and interest has been charged on the loan at the official rate.
During the year, dividends of £115,000 (2023 - £30,000) were paid to the director.

 
Page 8