Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-302true2023-07-01falsefalse2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04457684 2023-07-01 2024-06-30 04457684 2022-07-01 2023-06-30 04457684 2024-06-30 04457684 2023-06-30 04457684 c:Director1 2023-07-01 2024-06-30 04457684 d:OfficeEquipment 2023-07-01 2024-06-30 04457684 d:OfficeEquipment 2024-06-30 04457684 d:OfficeEquipment 2023-06-30 04457684 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04457684 d:CurrentFinancialInstruments 2024-06-30 04457684 d:CurrentFinancialInstruments 2023-06-30 04457684 d:Non-currentFinancialInstruments 2024-06-30 04457684 d:Non-currentFinancialInstruments 2023-06-30 04457684 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 04457684 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 04457684 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 04457684 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 04457684 d:ShareCapital 2024-06-30 04457684 d:ShareCapital 2023-06-30 04457684 d:RetainedEarningsAccumulatedLosses 2024-06-30 04457684 d:RetainedEarningsAccumulatedLosses 2023-06-30 04457684 c:OrdinaryShareClass1 2023-07-01 2024-06-30 04457684 c:OrdinaryShareClass1 2024-06-30 04457684 c:OrdinaryShareClass1 2023-06-30 04457684 c:FRS102 2023-07-01 2024-06-30 04457684 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 04457684 c:FullAccounts 2023-07-01 2024-06-30 04457684 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04457684 2 2023-07-01 2024-06-30 04457684 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 04457684














L 25 ENTERTAINMENT LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
L 25 ENTERTAINMENT LIMITED
REGISTERED NUMBER:04457684

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,529
2,448

  
3,529
2,448

Current assets
  

Debtors: amounts falling due within one year
 5 
8,525
10,453

Cash at bank
 6 
89,817
161,650

  
98,342
172,103

Creditors: amounts falling due within one year
 7 
(9,833)
(12,915)

Net current assets
  
 
 
88,509
 
 
159,188

Total assets less current liabilities
  
92,038
161,636

Creditors: amounts falling due after more than one year
 8 
(7,275)
(14,550)

  

Net assets
  
84,763
147,086


Capital and reserves
  

Called up share capital 
 9 
2
2

Profit and loss account
  
84,761
147,084

  
84,763
147,086


Page 1

 
L 25 ENTERTAINMENT LIMITED
REGISTERED NUMBER:04457684
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

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 year 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 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: 




D S Michaelson
Director

Date: 28 February 2025

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

Page 2

 
L 25 ENTERTAINMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

L 25 Entertainment Limited is a private company, limited by shares, registered in England and Wales, registration number 04457684. 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 music recording and publishing
 
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 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.

 
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 music publishing and recording activities is recognised when it is probable the company will receive the rights to the consideration due under the contract.

 
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. 

 
2.6

Borrowing costs

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

Page 3

 
L 25 ENTERTAINMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.7

Dividend income

Dividend income is recognised in the year in which the company's right to receive dividend is established. 

 
2.8

Taxation

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.


 
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:

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.

 
2.10

 Debtors

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

 
2.11

 Cash

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

 
2.12

 Creditors

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

Page 4

 
L 25 ENTERTAINMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.13

 Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as other debtors, other creditors and loans with related parties.

 
2.14

 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 directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Office equipment

£



Cost 


At 1 July 2023
4,734


Additions
2,257



At 30 June 2024

6,991



Depreciation


At 1 July 2023
2,286


Charge for the year
1,176



At 30 June 2024

3,462



Net book value



At 30 June 2024
3,529



At 30 June 2023
2,448

Page 5

 
L 25 ENTERTAINMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Debtors

2024
2023
£
£


Other debtors
7,583
8,906

Prepayments
900
-

Tax recoverable
42
1,547

8,525
10,453



6.


Cash

2024
2023
£
£

Cash at bank
89,817
161,650



7.


Creditors: amounts falling due within one year

2024
2023
£
£

Other loans
7,667
7,667

Other creditors
2,166
4,695

Accruals
-
553

9,833
12,915


Included in creditors is the Coronavirus Bounce Back Loan for £7,667 (2023 - £7,667) which is fully guaranteed by the government.


8.


Creditors: amounts falling due after more than one year

2024
2023
£
£

Other loans
7,275
14,550


The bank loan of £7,275 (2023 - £14,550) is a Coronavirus Bounce Back Loan which is fully guaranteed by the government.

Page 6

 
L 25 ENTERTAINMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1 each
2
2



10.


Transactions with directors

During the year, the company advanced £161,493 (2023 - £604,087) to the directors. The directors repaid £158,963 (2023 - £606,991) to the company. As at the year end, the company owed the directors £2,166 (2023 - £4,696). The loans are unsecured, repayable on demand and interest at an official rate has been charged on the loans.
During the year, dividends of £40,000 (2023 - £336,000) was paid to the directors.

 
Page 7