Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31The principal activity of the company continued to be that of recording and performance of popular music.2023-06-01false11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12613468 2023-06-01 2024-05-31 12613468 2022-06-01 2023-05-31 12613468 2024-05-31 12613468 2023-05-31 12613468 c:Director1 2023-06-01 2024-05-31 12613468 d:OfficeEquipment 2023-06-01 2024-05-31 12613468 d:OfficeEquipment 2024-05-31 12613468 d:OfficeEquipment 2023-05-31 12613468 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 12613468 d:CurrentFinancialInstruments 2024-05-31 12613468 d:CurrentFinancialInstruments 2023-05-31 12613468 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 12613468 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 12613468 d:ShareCapital 2024-05-31 12613468 d:ShareCapital 2023-05-31 12613468 d:RetainedEarningsAccumulatedLosses 2024-05-31 12613468 d:RetainedEarningsAccumulatedLosses 2023-05-31 12613468 d:AcceleratedTaxDepreciationDeferredTax 2024-05-31 12613468 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 12613468 c:OrdinaryShareClass1 2023-06-01 2024-05-31 12613468 c:OrdinaryShareClass1 2024-05-31 12613468 c:OrdinaryShareClass1 2023-05-31 12613468 c:FRS102 2023-06-01 2024-05-31 12613468 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 12613468 c:FullAccounts 2023-06-01 2024-05-31 12613468 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 12613468 2 2023-06-01 2024-05-31 12613468 e:PoundSterling 2023-06-01 2024-05-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 12613468














IYANU LTD

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

 
IYANU LTD
REGISTERED NUMBER:12613468

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
812
1,083

  
812
1,083

Current assets
  

Debtors: amounts falling due within one year
 5 
43,740
42,547

Cash at bank
 6 
65,607
58,859

  
109,347
101,406

Creditors: amounts falling due within one year
 7 
(39,315)
(56,317)

Net current assets
  
 
 
70,032
 
 
45,089

Total assets less current liabilities
  
70,844
46,172

Provisions for liabilities
  

Deferred tax
 8 
(203)
(271)

  
 
 
(203)
 
 
(271)

Net assets
  
70,641
45,901


Capital and reserves
  

Called up share capital 
 9 
1
1

Profit and loss account
  
70,640
45,900

  
70,641
45,901


Page 1

 
IYANU LTD
REGISTERED NUMBER:12613468
    
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 her 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 Ehirim
Director

Date: 24 March 2025

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

Page 2

 
IYANU LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Iyanu Ltd is a private company, limited by shares, registered in England and Wales, registration number 12613468. The registered office address is 131 Midfield Way, Orpington, England, BR5 2QW.

The principal activity of the company continued to be that of recording and performance of popular music.

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 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 and cash equivalents 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 recording and performance of popular music is recognised when it is probable the company will receive the rights to the consideration due under the contract.

Advances received are recognised as income on receipt.

Income from performances are recognised once the performances have taken place.

Recharged income is recognised when the corresponding expenses have been incurred on behalf of other entities.

 
2.4

Interest income

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

Page 3

 
IYANU LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.5

Current and deferred 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.

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.

 
2.6

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:

Music 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.

 
2.7

Debtors

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

 
2.8

Cash

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

 
2.9

 Creditors

Short-term creditors are measured at the transaction price.

Page 4

 
IYANU LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.10

 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.

 
2.11

 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 a director, during the year was 1 (2023 - 1).


4.


Tangible fixed assets





Music equipment

£



Cost


At 1 June 2023
1,300



At 31 May 2024

1,300



Depreciation


At 1 June 2023
217


Charge for the year
271



At 31 May 2024

488



Net book value



At 31 May 2024
812



At 31 May 2023
1,083

Page 5

 
IYANU LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
4,389
17,366

Other debtors
-
1,000

Prepayments and accrued income
39,351
24,181

43,740
42,547



6.


Cash

2024
2023
£
£

Cash at bank
65,607
58,859



7.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
4,215
7,455

Corporation tax
9,060
9,528

Other taxation and social security
1,554
7,922

Other creditors
13,909
10,040

Accruals and deferred income
10,577
21,372

39,315
56,317



8.


Deferred taxation




2024


£






At beginning of year
271


Charged to profit or loss
(68)



At end of year
203

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
203
271

Page 6

 
IYANU LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



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




10.


Transactions with the director

As at the year end, the company owed £13,909 (2023 - £10,040) to the director. The loan is unsecured, interest free and repayable on demand.
During the year, dividends of £12,536 (2023 - £NIL) was paid to the director.  

 
Page 7