Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30false02023-07-01No description of principal activity3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14429820 2023-07-01 2024-06-30 14429820 2022-10-19 2023-06-30 14429820 2024-06-30 14429820 2023-06-30 14429820 c:Director1 2023-07-01 2024-06-30 14429820 d:CurrentFinancialInstruments 2024-06-30 14429820 d:CurrentFinancialInstruments 2023-06-30 14429820 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 14429820 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 14429820 d:ShareCapital 2024-06-30 14429820 d:ShareCapital 2023-06-30 14429820 d:RetainedEarningsAccumulatedLosses 2024-06-30 14429820 d:RetainedEarningsAccumulatedLosses 2023-06-30 14429820 c:OrdinaryShareClass1 2023-07-01 2024-06-30 14429820 c:OrdinaryShareClass1 2024-06-30 14429820 c:OrdinaryShareClass1 2023-06-30 14429820 c:FRS102 2023-07-01 2024-06-30 14429820 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 14429820 c:FullAccounts 2023-07-01 2024-06-30 14429820 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 14429820 2 2023-07-01 2024-06-30 14429820 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14429820









THE OTHER SONGS RECORDS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
THE OTHER SONGS RECORDS LIMITED
REGISTERED NUMBER: 14429820

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
1,554,679
898,073

Cash at bank and in hand
  
2,268,727
42,006

  
3,823,406
940,079

Creditors: amounts falling due within one year
 5 
(2,636,090)
(966,293)

Net current assets/(liabilities)
  
 
 
1,187,316
 
 
(26,214)

Total assets less current liabilities
  
1,187,316
(26,214)

  

Net assets/(liabilities)
  
1,187,316
(26,214)


Capital and reserves
  

Called up share capital 
 6 
1
1

Profit and loss account
  
1,187,315
(26,215)

  
1,187,316
(26,214)


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 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: 




................................................
Sophia Jayne Humphreys
Director

Date: 27 March 2025
Page 1

 
THE OTHER SONGS RECORDS LIMITED
REGISTERED NUMBER: 14429820
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024


The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
THE OTHER SONGS RECORDS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

The Other Songs Records Limited is a private company limited by shares incorporated in the United Kingdom and registered in England and Wales under company number 14429820. The address of the registered office is 180 Strand, London, WC2R 1EA.

The financial statements are rounded to the nearest £.

These financial statements cover the year to 30 June 2024. The comparative information covers the opening period from the 19 October 2022 - 30 June 2023, therefore the information is not entirely comparable. 

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

We have continued to prepare the accounts on a going concern basis and deem this to be appropriate. In making this assessment we have considered the likely trading conditions for a period of twelve months from the date of our approval of these accounts.

 
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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
THE OTHER SONGS RECORDS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

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 measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Interest income

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

 
2.6

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 income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


Page 4

 
THE OTHER SONGS RECORDS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Advances to Artists
Advances to artists represent advances made direct to artists for recording and other costs made on behalf of artists under contract. These advances, which are only recoverable against future royalties, are charged to the profit and loss account as they are recouped or where the probability of future recoupment in respect of thereof is unlikely. 

 
2.8

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.


3.


Employees

The Company has no other employees other than the directors, who did not receive any remuneration (Restated 2023 - 0). Employee costs relate to a recharge of costs from the parent company, The Other Songs Limited.


Page 5

 
THE OTHER SONGS RECORDS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Debtors

2024
2023
£
£


Trade debtors
994,060
91,984

Amounts owed by group undertakings
14,645
-

Advances to artists
225,096
48,600

Other debtors
-
55,615

Prepayments and accrued income
320,878
701,874

1,554,679
898,073



5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
527,820
56,237

Amounts owed to group undertakings
63,389
215,459

Other taxation and social security
746,145
-

Accruals and deferred income
1,298,736
694,597

2,636,090
966,293



6.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) 1 share of £1.00
1
1



7.


Controlling party

The company is a wholly owned subsidiary of The Other Songs Limited

 
Page 6