Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-31false2023-07-14No description of principal activity5truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 15003134 2023-07-13 15003134 2023-07-14 2024-12-31 15003134 2022-07-14 2023-07-13 15003134 2024-12-31 15003134 c:Director1 2023-07-14 2024-12-31 15003134 c:Director1 2024-12-31 15003134 c:Director2 2023-07-14 2024-12-31 15003134 c:Director2 2024-12-31 15003134 c:Director3 2023-07-14 2024-12-31 15003134 c:Director3 2024-12-31 15003134 c:RegisteredOffice 2023-07-14 2024-12-31 15003134 d:OfficeEquipment 2023-07-14 2024-12-31 15003134 d:OfficeEquipment 2024-12-31 15003134 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-14 2024-12-31 15003134 d:ComputerEquipment 2023-07-14 2024-12-31 15003134 d:ComputerEquipment 2024-12-31 15003134 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-07-14 2024-12-31 15003134 d:OwnedOrFreeholdAssets 2023-07-14 2024-12-31 15003134 d:Non-currentFinancialInstruments 2024-12-31 15003134 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 15003134 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 15003134 d:ShareCapital 2024-12-31 15003134 d:RetainedEarningsAccumulatedLosses 2024-12-31 15003134 c:OrdinaryShareClass1 2023-07-14 2024-12-31 15003134 c:OrdinaryShareClass1 2024-12-31 15003134 c:FRS102 2023-07-14 2024-12-31 15003134 c:AuditExempt-NoAccountantsReport 2023-07-14 2024-12-31 15003134 c:FullAccounts 2023-07-14 2024-12-31 15003134 c:PrivateLimitedCompanyLtd 2023-07-14 2024-12-31 15003134 e:PoundSterling 2023-07-14 2024-12-31 iso4217:GBP xbrli:shares xbrli:pure
Company registration number: 15003134







UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 DECEMBER 2024


HEADLINE AUDIO LIMITED






































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HEADLINE AUDIO LIMITED
 


 
COMPANY INFORMATION


Directors
R A Wilson (appointed 14 July 2023)
J A Lovatt (appointed 1 November 2023)
G M Niven (appointed 1 November 2023)




Registered number
15003134



Registered office
10 Holdom Avenue
Bletchley

Milton Keynes

MK1 1QU




Accountants
Menzies LLP
Chartered Accountants

Richmond House

Walkern Road

Stevenage

Herts

SG1 3QP





 


HEADLINE AUDIO LIMITED
 



CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7


 


HEADLINE AUDIO LIMITED
REGISTERED NUMBER:15003134



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
Note
£

Fixed assets
  

Tangible assets
 4 
8,034

  
8,034

Current assets
  

Stocks
 5 
459,850

Debtors
  
603,222

Cash at bank and in hand
  
53,928

  
1,117,000

Creditors: amounts falling due within one year
  
(397,446)

Net current assets
  
 
 
719,554

Total assets less current liabilities
  
727,588

Creditors: amounts falling due after more than one year
  
(494,500)

  

Net assets
  
233,088


Capital and reserves
  

Called up share capital 
  
10,000

Profit and loss account
  
223,088

  
233,088


Page 1

 


HEADLINE AUDIO LIMITED
REGISTERED NUMBER:15003134


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 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 period 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 on 4 April 2025.




R A Wilson
Director

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

Page 2

 


HEADLINE AUDIO LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

1.


General information

Headline Audio Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.      
The presentation currency of the financial statements is the Pound Sterling (£).
The period covered by the financial statements is the 18 month period from 14 July 2023 to 31 December 2024. The director has chosen to extend the financial reporting date to 31 December 2024, following the commenecement of trade of the company. 

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 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

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

 


HEADLINE AUDIO LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 


HEADLINE AUDIO LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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 except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
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.

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.

Depreciation is provided on the following basis:

Office equipment
-
25%
Computer equipment
-
25%

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.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 5

 


HEADLINE AUDIO LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

3.


Employees

The average monthly number of employees, including the directors, during the period was as follows:


        2024
            No.






Employees
5


4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


Additions
11,013
5,872
16,885



At 31 December 2024

11,013
5,872
16,885



Depreciation


Charge for the period on owned assets
6,624
2,227
8,851



At 31 December 2024

6,624
2,227
8,851



Net book value



At 31 December 2024
4,389
3,645
8,034


5.


Stocks

2024
£

Finished goods and goods for resale
459,850

459,850



6.


Creditors: Amounts falling due after more than one year

2024
£

Other creditors
494,500

494,500


Page 6

 


HEADLINE AUDIO LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

7.


Share capital

2024
£
Allotted, called up and fully paid


10,000 Ordinary shares of £1.00 each
10,000


During the year 10,000 ordinary shares were issued at a value of £1 each


8.


Related party transactions

At the balance sheet date the company owed £9,839 to the directors. The balance can be found within creditors due within one year. 
At the balance sheet date the company owed £494,500 to the directors. The balance can be found within creditors due after more than one year. No interest is being charged on this loan.

 
Page 7