Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3121No description of principal activitytruefalse2023-04-01falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14301413 2023-04-01 2024-03-31 14301413 2022-08-17 2023-03-31 14301413 2024-03-31 14301413 2023-03-31 14301413 c:Director1 2023-04-01 2024-03-31 14301413 c:Director2 2023-04-01 2024-03-31 14301413 c:Director2 2024-03-31 14301413 c:RegisteredOffice 2023-04-01 2024-03-31 14301413 d:CurrentFinancialInstruments 2024-03-31 14301413 d:CurrentFinancialInstruments 2023-03-31 14301413 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 14301413 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 14301413 d:ShareCapital 2024-03-31 14301413 d:ShareCapital 2023-03-31 14301413 d:RetainedEarningsAccumulatedLosses 2024-03-31 14301413 d:RetainedEarningsAccumulatedLosses 2023-03-31 14301413 c:FRS102 2023-04-01 2024-03-31 14301413 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 14301413 c:FullAccounts 2023-04-01 2024-03-31 14301413 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 14301413 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Company registration number: 14301413







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024


FUTURESONIC RECORDS LTD






































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FUTURESONIC RECORDS LTD
 


 
COMPANY INFORMATION


Directors
K S Sandhu 
G L Wood (appointed 6 June 2024)




Registered number
14301413



Registered office
4th Floor 95 Gresham Street

London

EC2V 7AB




Accountants
Menzies LLP
Chartered Accountants

95 Gresham Street

London

EC2V 7AB





 


FUTURESONIC RECORDS LTD
 



CONTENTS



Page
Statement of financial position
1
Notes to the financial statements
2 - 3


 


FUTURESONIC RECORDS LTD
REGISTERED NUMBER:14301413



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
  
13,461
20,192

Debtors: amounts falling due within one year
 4 
664
-

  
14,125
20,192

Creditors: amounts falling due within one year
 5 
(264,396)
(58,074)

Net current liabilities
  
 
 
(250,271)
 
 
(37,882)

Total assets less current liabilities
  
(250,271)
(37,882)

  

Net liabilities
  
(250,271)
(37,882)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(250,371)
(37,982)

  
(250,271)
(37,882)


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 period 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 statement of income and retained earnings 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: 




G L Wood
Director
Date: 23 March 2025

The notes on pages 2 to 3 form part of these financial statements.

Page 1

 


FUTURESONIC RECORDS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

Futuresonic Records Limited is a private company, limited by shares, registered in England and Wales, company registration number 14301413. The registered office is 4th Floor 95 Gresham Street, London, United Kingdom, EC2V 7AB. There is no principal place of business.

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.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the balance sheet 31 March 2024 the company shows a deficiency of total assets over total liabilities of £250,271 (2023: £37,882). Due to the ongoing support of directors, and expectation regarding future trading performance, the company expects to meet its liabilities as they fall due, the company has prepared its financial statements on a going conern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is generated through music production and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes

 
2.4

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. Work in progress and finished goods include labour and attributable overheads.

At each reporting 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.

 
2.5

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.


3.


Employees




The average monthly number of employees, including directors, during the period was 2 (2023 - 1).

Page 2

 


FUTURESONIC RECORDS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Debtors

2024
£


Other debtors
664

664



5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
259,946
53,824

Accruals and deferred income
4,450
4,250

264,396
58,074



6.


Related party transactions

The company had transactions with its directors totalling £259,946 (2023: £53,824). These balances are included within the 'Other creditors' section of these financial statements.

 
Page 3