Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.102023-07-01falseThe principal activity of the company is that of studio recording services.10truetruefalse 10837952 2023-07-01 2024-06-30 10837952 2022-07-01 2023-06-30 10837952 2024-06-30 10837952 2023-06-30 10837952 1 2023-07-01 2024-06-30 10837952 d:Director1 2023-07-01 2024-06-30 10837952 d:Director1 2024-06-30 10837952 d:Director2 2023-07-01 2024-06-30 10837952 d:Director2 2024-06-30 10837952 d:Director3 2023-07-01 2024-06-30 10837952 d:Director3 2024-06-30 10837952 d:RegisteredOffice 2023-07-01 2024-06-30 10837952 c:PlantMachinery 2023-07-01 2024-06-30 10837952 c:PlantMachinery 2024-06-30 10837952 c:PlantMachinery 2023-06-30 10837952 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10837952 c:OfficeEquipment 2023-07-01 2024-06-30 10837952 c:OfficeEquipment 2024-06-30 10837952 c:OfficeEquipment 2023-06-30 10837952 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10837952 c:ComputerEquipment 2023-07-01 2024-06-30 10837952 c:ComputerEquipment 2024-06-30 10837952 c:ComputerEquipment 2023-06-30 10837952 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10837952 c:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 10837952 c:OtherPropertyPlantEquipment 2024-06-30 10837952 c:OtherPropertyPlantEquipment 2023-06-30 10837952 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10837952 c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10837952 c:CurrentFinancialInstruments 2024-06-30 10837952 c:CurrentFinancialInstruments 2023-06-30 10837952 c:CurrentFinancialInstruments c:WithinOneYear 2024-06-30 10837952 c:CurrentFinancialInstruments c:WithinOneYear 2023-06-30 10837952 c:ShareCapital 2024-06-30 10837952 c:ShareCapital 2023-06-30 10837952 c:RetainedEarningsAccumulatedLosses 2024-06-30 10837952 c:RetainedEarningsAccumulatedLosses 2023-06-30 10837952 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-06-30 10837952 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-06-30 10837952 d:OrdinaryShareClass1 2023-07-01 2024-06-30 10837952 d:OrdinaryShareClass1 2024-06-30 10837952 d:OrdinaryShareClass1 2023-06-30 10837952 d:FRS102 2023-07-01 2024-06-30 10837952 d:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 10837952 d:FullAccounts 2023-07-01 2024-06-30 10837952 d:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10837952 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10837952









5DB INDUSTRIES LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
5DB INDUSTRIES LTD
 
 
COMPANY INFORMATION


Directors
A E Hult (resigned 1 November 2024)
N A Andrade Dos Passos (appointed 31 August 2024)
L Slattery (appointed 31 August 2024)




Registered number
10837952



Registered office
Eighth Floor
6 New Street Square

New Fetter Lane

London

EC4A 3AQ




Accountants
Rawlinson & Hunter LLP
Chartered Accountants

Eighth Floor

6 New Street Square

New Fetter Lane

London

EC4A 3AQ





 
5DB INDUSTRIES LTD
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 8


 
5DB INDUSTRIES LTD
REGISTERED NUMBER: 10837952

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
810,926
959,185

  
810,926
959,185

Current assets
  

Debtors: amounts falling due within one year
 5 
456,673
26,227

Cash at bank and in hand
  
12,086
-

  
468,759
26,227

Creditors: amounts falling due within one year
 7 
(5,887,722)
(4,133,211)

Net current liabilities
  
 
 
(5,418,963)
 
 
(4,106,984)

Total assets less current liabilities
  
(4,608,037)
(3,147,799)

  

Net liabilities
  
(4,608,037)
(3,147,799)


Capital and reserves
  

Called up share capital 
 9 
1
1

Profit and loss account
  
(4,608,038)
(3,147,800)

  
(4,608,037)
(3,147,799)


Page 1

 
5DB INDUSTRIES LTD
REGISTERED NUMBER: 10837952
    
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: 




N A Andrade Dos Passos
Director

Date: 28 March 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
5DB INDUSTRIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

5DB Industries Limited is a private company, limited by shares, incorporated in England and Wales with registration number of 10837952. The registered office is Eighth Floor, 6 New Street Square, New Fetter Lane, London, EC4A 3AQ.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The company expects the continued support of the ultimate controlling party, Mr A E Hult, who has confirmed that he will provide such financial support as is necessary for the company to meet its liabilities as they fall due and continue in operation for a period of at least twelve months from the date of signing of the financial statements of the company.

 
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 Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'administrative expenses'.

Page 3

 
5DB INDUSTRIES LTD
 
 
 
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

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. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.7

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.

Page 4

 
5DB INDUSTRIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Leasehold Improvements
-
Over the lease term
Recording equipment
-
25% Straight line
Computer equipment
-
25% Straight line
Office equipment
-
25% Straight line

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.

As there is no lease agreement in place, no depreciation has been recognised for leasehold improvements.

 
2.8

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.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

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.

 
2.11

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 year was 10 (2023 - 10).

Page 5

 
5DB INDUSTRIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Leasehold Improvements
Recording equipment
Computer equipment
Office Equipment
Total

£
£
£
£
£



Cost or valuation


At 1 July 2023
29,167
1,346,169
63,426
6,136
1,444,898


Additions
77,636
131,743
8,079
-
217,458



At 30 June 2024

106,803
1,477,912
71,505
6,136
1,662,356



Depreciation


At 1 July 2023
-
459,578
23,840
2,295
485,713


Charge for the year
-
347,121
17,062
1,534
365,717



At 30 June 2024

-
806,699
40,902
3,829
851,430



Net book value



At 30 June 2024
106,803
671,213
30,603
2,307
810,926



At 30 June 2023
29,167
886,591
39,586
3,841
959,185


5.


Debtors

2024
2023
£
£


Trade debtors
2,010
9,581

Other debtors
412,401
-

Prepayments and accrued income
42,262
16,646

456,673
26,227



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
12,086
-


Page 6

 
5DB INDUSTRIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
72,669
45,361

Other taxation and social security
-
5,909

Other creditors
5,798,433
4,057,475

Accruals and deferred income
16,620
24,466

5,887,722
4,133,211



8.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
12,086
-




Financial assets measured at fair value through profit or loss comprise Cash at bank and in hand including overdraft.


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



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



10.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge of £8,983 (2023 - £7,990) represents contributions payable by the company to the fund. Contributions totalling £nil (2023 - £2,221) were payable to the fund at the balance sheet date and are included in creditors.

Page 7

 
5DB INDUSTRIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

11.


Related party transactions

Included within Other creditors (Note 7), is an amount of £4,521,996 (2023 - £2,760,437) owed to Exelenz Limited which is related through common control and ownership. This amount is unsecured, interest free and repayable on demand.
Included within Other Debtors (Note 5), is an amount of £389,961
 (2023 - £nil) owed by 5dB Records Limited which is related through common control and ownership. This amount is unsecured, interest free and repayable on demand.


12.


Post balance sheet events

On 1 July 2024, the entire issued share capital of the company was acquired by Exelenz Holding Limited which, from this date, became the immediate parent undertaking.

Page 8