Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312025-05-272025-05-27trueNo description of principal activity2024-01-01false98falsefalse 12924546 2024-01-01 2024-12-31 12924546 2023-01-01 2023-12-31 12924546 2024-12-31 12924546 2023-12-31 12924546 c:Director1 2024-01-01 2024-12-31 12924546 d:OfficeEquipment 2024-01-01 2024-12-31 12924546 d:OfficeEquipment 2024-12-31 12924546 d:OfficeEquipment 2023-12-31 12924546 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 12924546 d:ComputerEquipment 2024-01-01 2024-12-31 12924546 d:ComputerEquipment 2024-12-31 12924546 d:ComputerEquipment 2023-12-31 12924546 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 12924546 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 12924546 d:PatentsTrademarksLicencesConcessionsSimilar 2024-01-01 2024-12-31 12924546 d:PatentsTrademarksLicencesConcessionsSimilar 2024-12-31 12924546 d:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 12924546 d:Goodwill 2024-01-01 2024-12-31 12924546 d:ComputerSoftware 2024-01-01 2024-12-31 12924546 d:ComputerSoftware 2024-12-31 12924546 d:ComputerSoftware 2023-12-31 12924546 d:CurrentFinancialInstruments 2024-12-31 12924546 d:CurrentFinancialInstruments 2023-12-31 12924546 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 12924546 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12924546 d:ShareCapital 2024-12-31 12924546 d:ShareCapital 2023-12-31 12924546 d:RetainedEarningsAccumulatedLosses 2024-12-31 12924546 d:RetainedEarningsAccumulatedLosses 2023-12-31 12924546 c:OrdinaryShareClass1 2024-01-01 2024-12-31 12924546 c:OrdinaryShareClass1 2024-12-31 12924546 c:OrdinaryShareClass1 2023-12-31 12924546 c:OrdinaryShareClass2 2024-01-01 2024-12-31 12924546 c:OrdinaryShareClass2 2024-12-31 12924546 c:OrdinaryShareClass2 2023-12-31 12924546 c:FRS102 2024-01-01 2024-12-31 12924546 c:Audited 2024-01-01 2024-12-31 12924546 c:FullAccounts 2024-01-01 2024-12-31 12924546 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 12924546 d:WithinOneYear 2024-12-31 12924546 d:WithinOneYear 2023-12-31 12924546 d:BetweenOneFiveYears 2024-12-31 12924546 d:BetweenOneFiveYears 2023-12-31 12924546 c:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 12924546 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 12924546 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 12924546 2 2024-01-01 2024-12-31 12924546 d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 12924546 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2024-01-01 2024-12-31 12924546 d:ComputerSoftware d:OwnedIntangibleAssets 2024-01-01 2024-12-31 12924546 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12924546









BOSSANOVA LTD









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
BOSSANOVA LTD
REGISTERED NUMBER: 12924546

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible fixed assets
 5 
3,823,243
3,219,955

Tangible fixed assets
 6 
5,787
8,219

  
3,829,030
3,228,174

Current assets
  

Debtors: amounts falling due within one year
 7 
3,814,763
3,254,312

Cash at bank and in hand
  
1,601,511
623,256

  
5,416,274
3,877,568

Creditors: amounts falling due within one year
 8 
(9,535,603)
(7,854,567)

Net current liabilities
  
 
 
(4,119,329)
 
 
(3,976,999)

Total assets less current liabilities
  
(290,299)
(748,825)

  

Net liabilities
  
(290,299)
(748,825)


Capital and reserves
  

Called up share capital 
 9 
4
4

Profit and loss account
  
(290,303)
(748,829)

  
(290,299)
(748,825)


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 27 May 2025.




P F Heaney
Director

The notes on pages 2 to 9 form part of these financial statements.

Page 1

 
BOSSANOVA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Bossanova Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Royalty House, 72-74 Dean Street, London, United Kingdom, W1D 3SG.

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.

 
2.2

Going concern

At the reporting date the company had net liabilities of £290,299 (2023: £748,825). In order to continue trading it is dependent on the continued financial support of its shareholders, who have confirmed their intention to continue to support the company for the foreseeable future.
On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result in the withdrawal of the aforementioned support.

 
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.

 
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 Company's revenue comes principally from the distribution of television programmes and this is recognised at the licence period start date once the programme materials have been delivered. Where contracts have been entered into but the licence start date has not yet been reached, or the programme material has not been delivered, the income is deferred. Income is accrued when the licence period start date of a contract has been reached but an invoice has not been issued. The full contract value for the relevant title is recognised when the obligations are satisfied.
Page 2

 
BOSSANOVA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

Interest income

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

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

 
2.7

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.

 
2.8

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 3

 
BOSSANOVA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Computer software
-
3
years

TV Library Rights
The investment in television library rights relating to productions in progress and completed television rights are amortised to net income based on the estimate of the economic benefit relating to the individual production titles as each production has its own estimated cash outflows and inflows. For completed television rights, the rate of amortisation will depend on a variety of factors including the timing of its delivery, the type of entertainment right and the expected longevity of the future benefits but is typically within a range of 50 - 75% in the first year. For future years, the amortisation rate may range depending on the estimated future benefits of the particular television right. The determination of the rates is based on the expected economic useful life of the rights, including factors such as the ability to licence rights to broadcast, rights to programs in development, and availability of rights to renew licences for episodic television programs in subsequent seasons, as well as the availability of secondary market revenue.

 
2.10

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
-
2 years
Computer equipment
-
3 years





Page 4

 
BOSSANOVA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Judgments in applying accounting policies 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 for assets and liabilities as at the reporting date and the
amounts reported for revenues and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those estimates.
Accruals
The company makes an estimate of accruals at the year end based on invoices received after the reporting date and work undertaken which has not been invoiced based on quotations or estimates of amounts that may be due for payment.
Amortisation and impairment of intangible assets
The company amortises its intangilbe assets over the estimated useful life of the asset. The determination of estimated useful life of the asset is based upon managements and directors judgement. All titles are also reviewed for impairment on an annual basis. 


4.


Employees

The average monthly number of employees, including the directors, during the year was 9 (2023 - 8).

Page 5

 
BOSSANOVA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Intangible assets




TV Library
Rights
Computer software
Total

£
£
£



Cost


At 1 January 2024
8,381,067
19,890
8,400,957


Additions
6,618,470
3,775
6,622,245



At 31 December 2024

14,999,537
23,665
15,023,202



Amortisation


At 1 January 2024
5,167,770
13,232
5,181,002


Charge for the year on owned assets
5,958,413
1,791
5,960,204


Impairment charge
58,753
-
58,753



At 31 December 2024

11,184,936
15,023
11,199,959



Net book value



At 31 December 2024
3,814,601
8,642
3,823,243



At 31 December 2023
3,213,297
6,658
3,219,955



Page 6

 
BOSSANOVA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2024
1,224
15,515
16,739


Additions
1,957
6,830
8,787


Disposals
(1,390)
(7,141)
(8,531)



At 31 December 2024

1,791
15,204
16,995



Depreciation


At 1 January 2024
556
7,964
8,520


Charge for the year on owned assets
571
8,919
9,490


Disposals
(759)
(6,043)
(6,802)



At 31 December 2024

368
10,840
11,208



Net book value



At 31 December 2024
1,423
4,364
5,787



At 31 December 2023
668
7,551
8,219


7.


Debtors

2024
2023
£
£


Trade debtors
1,608,504
1,836,220

Other debtors
343,422
293,103

Prepayments and accrued income
1,862,837
1,124,989

3,814,763
3,254,312


Page 7

 
BOSSANOVA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
724,856
56,245

Amounts owed to group undertakings
4,195,498
4,495,498

Other creditors
2,661,991
1,825,537

Accruals and deferred income
1,953,258
1,477,287

9,535,603
7,854,567


Included in amounts owed to group undertakings is a credit facility totalling £3,195,500 (2023: £3,495,500) which is secured by fixed and floating charges over the assets of the company.


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) A Ordinary shares of £0.02 each
2
2
105 (2023 - 105) B Ordinary shares of £0.02 each
2
2

4

4



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 represents contributions payable by the Company to the fund and amounted to £22,088 (2023: £16,542). Contributions totalling £nil (2023: £1,680) were payable to the fund at the reporting date and are included in other creditors.


11.


Commitments under operating leases

At 31 December 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
165,000
74,268

Later than 1 year and not later than 5 years
418,655
-

583,655
74,268

Page 8

 
BOSSANOVA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

12.


Related party transactions

At the reporting date, the company owed £400,000 (2023: £400,000) to Mr P Heaney, a shareholder and director of the company, the loan is interest free and repayable on demand.
At the reporting date, the company owed £999,998 (2023: £999,998) to Night Train Media Gmbh & Co. Kg, a German company with a majority shareholding in the company. The loan is interest free and repayable in line with the investment agreement. As there are no set repayment terms, the loan has been classed as due within one year.
At the reporting date, the company also owed Night Train Media Gmbh & Co. Kg amounts totalling £3,195,500 (2023: £3,495,500) by way of revolving credit facility. In line with the loan agreement, interest has been accrued at 8% per annum on the principal amount, which amounted to £269,699 (2023: £282,367). The loan is secured by fixed and floating charges over assets of the company. As there are no set repayment terms, the loan has been classed as due within one year.
At the reporting date, the company owed £112,008 (2023: £nil) to Curve Media Ltd, a fellow group company. During the year the company paid advances and producer royalties totalling £649,258 (2023: £15,000) to Curve Media Ltd.
There are no further transactions with related parties that are material and have not been conducted under normal market conditions.


13.


Controlling party

The company is under the control of Night Train Media Gmbh & Co. Kg, a company incorporated in Germany. The trading address of Night Train Media Gmbh & Co. Kg is Residenzstrasse 9, 80333 Munich, Germany.


14.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 27 May 2025 by Anthony Pins (Senior Statutory Auditor) on behalf of Nyman Libson Paul LLP.

Page 9