1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2024 - FRS102_2024 1 1 1 4,511 605 5,116 1,543 1,023 2,566 2,550 2,968 141,856 50,425 80,460 64,628 176,449 176,449 141,856 xbrli:pure xbrli:shares iso4217:GBP 12698430 2023-07-01 2024-06-30 12698430 2024-06-30 12698430 2023-06-30 12698430 2022-07-01 2023-06-30 12698430 2023-06-30 12698430 2022-06-30 12698430 bus:Director1 2023-07-01 2024-06-30 12698430 core:WithinOneYear 2024-06-30 12698430 core:WithinOneYear 2023-06-30 12698430 core:ShareCapital 2024-06-30 12698430 core:ShareCapital 2023-06-30 12698430 core:RetainedEarningsAccumulatedLosses 2024-06-30 12698430 core:RetainedEarningsAccumulatedLosses 2023-06-30 12698430 core:CostValuation core:Non-currentFinancialInstruments 2023-06-30 12698430 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-06-30 12698430 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-06-30 12698430 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2024-06-30 12698430 core:CostValuation core:Non-currentFinancialInstruments 2024-06-30 12698430 core:Non-currentFinancialInstruments 2024-06-30 12698430 core:Non-currentFinancialInstruments 2023-06-30 12698430 bus:SmallEntities 2023-07-01 2024-06-30 12698430 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 12698430 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 12698430 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 12698430 bus:FullAccounts 2023-07-01 2024-06-30 12698430 core:OfficeEquipment 2023-07-01 2024-06-30 12698430 core:IntangibleAssetsOtherThanGoodwill 2023-07-01 2024-06-30 12698430 core:IntangibleAssetsOtherThanGoodwill 2024-06-30 12698430 core:OfficeEquipment 2023-06-30 12698430 core:OfficeEquipment 2024-06-30 12698430 core:KeyManagementPersonnel 2023-07-01 2024-06-30
COMPANY REGISTRATION NUMBER: 12698430
Reclusive Recordings Limited
Filleted Unaudited Financial Statements
30 June 2024
Reclusive Recordings Limited
Financial Statements
Year ended 30 June 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Reclusive Recordings Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
1
141,856
Tangible assets
6
2,550
2,968
Investments
7
176,449
---------
---------
179,000
144,824
Current assets
Cash at bank and in hand
19,087
166
Creditors: amounts falling due within one year
8
30,079
31,915
--------
--------
Net current liabilities
10,992
31,749
---------
---------
Total assets less current liabilities
168,008
113,075
---------
---------
Net assets
168,008
113,075
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
168,007
113,074
---------
---------
Shareholders funds
168,008
113,075
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Reclusive Recordings Limited
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 27 March 2025 , and are signed on behalf of the board by:
Mr M R Baltzer
Director
Company registration number: 12698430
Reclusive Recordings Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 86-90 Paul Street, London, EC2A 4NE, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Intangible assets
Intangible asset user defined 2
£
Cost
Additions
Disposals
1
----
At 30 June 2024
1
----
Amortisation
At 1 July 2023 and 30 June 2024
----
Carrying amount
At 30 June 2024
1
----
At 30 June 2023
----
6. Tangible assets
Equipment
£
Cost
At 1 July 2023
4,511
Additions
605
-------
At 30 June 2024
5,116
-------
Depreciation
At 1 July 2023
1,543
Charge for the year
1,023
-------
At 30 June 2024
2,566
-------
Carrying amount
At 30 June 2024
2,550
-------
At 30 June 2023
2,968
-------
7. Investments
Other investments other than loans
£
Cost
At 1 July 2023
141,856
Additions
50,425
Disposals
( 80,460)
Revaluations
64,628
---------
At 30 June 2024
176,449
---------
Impairment
At 1 July 2023 and 30 June 2024
---------
Carrying amount
At 30 June 2024
176,449
---------
At 30 June 2023
141,856
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
9,846
19,285
Other creditors
20,233
12,630
--------
--------
30,079
31,915
--------
--------
9. Related party transactions
At the year end, the company owed a director £17,863 (2023: £10,260).