Caseware UK (AP4) 2024.0.164 2024.0.164 2024-04-302024-04-30falseThe principal activity of the company continued to be that of the provision of music booking services to the music industry.2023-05-01false94truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13348454 2023-05-01 2024-04-30 13348454 2022-05-01 2023-04-30 13348454 2024-04-30 13348454 2023-04-30 13348454 c:Director1 2023-05-01 2024-04-30 13348454 d:ComputerEquipment 2023-05-01 2024-04-30 13348454 d:ComputerEquipment 2024-04-30 13348454 d:ComputerEquipment 2023-04-30 13348454 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 13348454 d:CurrentFinancialInstruments 2024-04-30 13348454 d:CurrentFinancialInstruments 2023-04-30 13348454 d:Non-currentFinancialInstruments 2024-04-30 13348454 d:Non-currentFinancialInstruments 2023-04-30 13348454 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 13348454 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 13348454 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 13348454 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 13348454 d:ShareCapital 2024-04-30 13348454 d:ShareCapital 2023-04-30 13348454 d:RetainedEarningsAccumulatedLosses 2024-04-30 13348454 d:RetainedEarningsAccumulatedLosses 2023-04-30 13348454 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 13348454 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 13348454 d:TaxLossesCarry-forwardsDeferredTax 2024-04-30 13348454 d:TaxLossesCarry-forwardsDeferredTax 2023-04-30 13348454 c:OrdinaryShareClass1 2023-05-01 2024-04-30 13348454 c:OrdinaryShareClass1 2024-04-30 13348454 c:OrdinaryShareClass1 2023-04-30 13348454 c:OrdinaryShareClass2 2023-05-01 2024-04-30 13348454 c:OrdinaryShareClass2 2024-04-30 13348454 c:OrdinaryShareClass2 2023-04-30 13348454 c:OrdinaryShareClass3 2023-05-01 2024-04-30 13348454 c:OrdinaryShareClass3 2024-04-30 13348454 c:OrdinaryShareClass3 2023-04-30 13348454 c:FRS102 2023-05-01 2024-04-30 13348454 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 13348454 c:FullAccounts 2023-05-01 2024-04-30 13348454 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 13348454 d:WithinOneYear 2024-04-30 13348454 d:WithinOneYear 2023-04-30 13348454 d:BetweenOneFiveYears 2024-04-30 13348454 d:BetweenOneFiveYears 2023-04-30 13348454 2 2023-05-01 2024-04-30 13348454 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 13348454














RUNWAY AGENCY LTD

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
RUNWAY AGENCY LTD
REGISTERED NUMBER:13348454

BALANCE SHEET
AS AT 30 APRIL 2024

As restated
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,605
1,800

  
1,605
1,800

Current assets
  

Debtors: amounts falling due within one year
 5 
24,886
31,665

Cash at bank and in hand
 6 
251,062
185,162

  
275,948
216,827

Creditors: amounts falling due within one year
 7 
(244,442)
(174,430)

Net current assets
  
 
 
31,506
 
 
42,397

Total assets less current liabilities
  
33,111
44,197

Creditors: amounts falling due after more than one year
 8 
(5,633)
(9,797)

Provisions for liabilities
  

Deferred tax
 9 
(305)
(395)

  
 
 
(305)
 
 
(395)

Net assets
  
27,173
34,005


Capital and reserves
  

Called up share capital 
 10 
627
627

Profit and loss account
  
26,546
33,378

  
27,173
34,005


Page 1

 
RUNWAY AGENCY LTD
REGISTERED NUMBER:13348454
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 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: 




M Hanner
Director

Date: 28 April 2025

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

Page 2

 
RUNWAY AGENCY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Runway Agency Ltd is a private company, limited by shares, registered in England and Wales, registration number 13348454. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
The principal activity of the company continued to be that of the provision of music booking services to the music industry.

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 year 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 revenue 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 provision of music booking services is recognised when it is probable the company will receive the rights to the consideration due under the contract.

 
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.

 
2.5

Interest income

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

Page 3

 
RUNWAY AGENCY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.6

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.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

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.


 
2.9

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.

Depreciation is provided on the following basis:

Computer equipment
-
over a useful life of 3 years

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.

 
2.10

 Debtors

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

Page 4

 
RUNWAY AGENCY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.11

 Cash

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

 
2.12

 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.

 
2.13

 Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as other debtors and other creditors, loan from third parties, and loan from related parties.

 
2.14

 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 directors, during the year was 9 (2023 - 4).

4.


Tangible fixed assets





Computer equipment

£



Cost


At 1 May 2023
2,015


Additions
490



At 30 April 2024

2,505



Depreciation


At 1 May 2023
215


Charge for the year 
685



At 30 April 2024

900



Net book value



At 30 April 2024
1,605



At 30 April 2023
1,800

Page 5

 
RUNWAY AGENCY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Debtors

2024
2023
£
£


Other debtors
7,198
31,188

Prepayments and accrued income
17,688
477

24,886
31,665



6.


Cash

As restated
2024
2023
£
£

Bank and cash balances
251,062
185,162



7.


Creditors: amounts falling due within one year

2024
2023
£
£

Other loans
4,169
3,927

Corporation tax
5,909
8,980

Other taxation and social security
12,242
4,505

Other creditors
215,865
149,893

Accruals
6,257
7,125

244,442
174,430



8.


Creditors: amounts falling due after more than one year

2024
2023
£
£

Bank loan
4,431
4,169

Other loans
1,202
5,628

5,633
9,797


Page 6

 
RUNWAY AGENCY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Deferred taxation




2024


£






At beginning of year
395


Charged to profit or loss
(90)



At end of year
305

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fixed asset timing differences
305
450

Short term timing differences
-
(55)

305
395


10.


Share capital

As restated
2024
2023
£
£
Allotted, called up and fully paid



625 (2023 - 625) Ordinary A shares of £1.00 each
625
625
1 (2023 - 1) Ordinary B share of £1.00
1
1
1 (2023 - 1) Ordinary C share of £1.00
1
1

627

627



11.


Prior year adjustment

An amount of £127 shares issued during the year was omitted in the prior year accounts. This has now been corrected as a prior year adjustment in the accounts. As a result, share capital and cash in hand have increased by £127. These adjustments have no impact on retained earnings.    


12.


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 represents contributions payable by the company to the fund and amounted to £2,497 (2023 - £412). Contributions totalling £NIL (2023 - £222) were payable to the fund at the balance sheet date and are included in creditors.
Page 7

 
RUNWAY AGENCY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

13.


Commitments under operating leases

At 30 April 2024, the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
10,428
2,809

Later than 1 year and not later than 5 years
6,083
-

16,511
2,809


14.


Transactions with directors

As at the year end, the company owed £14,164 (2023 - £24,709 - the directors owed to the company) to the directors. The loan is interest free, unsecured and repayable on demand.
During the year, dividends of £39,000 (2023 - £NIL) was paid to the directors.
 
Page 8