Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-30false2023-07-01No description of principal activity03truetruefalse 13787602 2023-07-01 2024-06-30 13787602 2022-07-01 2023-06-30 13787602 2024-06-30 13787602 2023-06-30 13787602 c:Director1 2023-07-01 2024-06-30 13787602 d:ComputerSoftware 2023-07-01 2024-06-30 13787602 d:ComputerSoftware 2024-06-30 13787602 d:ComputerSoftware 2023-06-30 13787602 d:CurrentFinancialInstruments 2024-06-30 13787602 d:CurrentFinancialInstruments 2023-06-30 13787602 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 13787602 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 13787602 d:ShareCapital 2024-06-30 13787602 d:ShareCapital 2023-06-30 13787602 d:RetainedEarningsAccumulatedLosses 2024-06-30 13787602 d:RetainedEarningsAccumulatedLosses 2023-06-30 13787602 c:FRS102 2023-07-01 2024-06-30 13787602 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 13787602 c:FullAccounts 2023-07-01 2024-06-30 13787602 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 13787602 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 13787602









THE OTHER SONGS STUDIO LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
THE OTHER SONGS STUDIO LTD
REGISTERED NUMBER: 13787602

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
9,961
7,063

  
9,961
7,063

Current assets
  

Debtors: amounts falling due within one year
 6 
606,234
627,308

Cash at bank and in hand
 7 
93,820
137,364

  
700,054
764,672

Creditors: amounts falling due within one year
 8 
(1,032,300)
(1,068,870)

Net current liabilities
  
 
 
(332,246)
 
 
(304,198)

Total assets less current liabilities
  
(322,285)
(297,135)

  

Net liabilities
  
(322,285)
(297,135)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(322,286)
(297,136)

  
(322,285)
(297,135)


Page 1

 
THE OTHER SONGS STUDIO LTD
REGISTERED NUMBER: 13787602
    
STATEMENT OF FINANCIAL POSITION (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.

The 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 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 19 June 2025.

Sophia Jayne Humphreys
Director

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

Page 2

 
THE OTHER SONGS STUDIO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

The Other Songs Studio Limited is a private company, limited by shares, registered in England and Wales, registration number 13787602. The registered address is 180 The Strand, London, WC2R 1EA. 
These accounts have been presented in pound sterling, as this is the currency of the primary economic environment in which the company operates, and are rounded to the nearest £. 

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

We have continued to prepare the accounts on a going concern basis and deem this to be appropriate. In making this assessment we have considered the likely trading conditions for a period of twelve months from the date of our approval of these accounts.

 
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 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

 
THE OTHER SONGS STUDIO 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:

 
2.5

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.


 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the revaluation model, intangible assets shall be carried at a revalued amount, being its fair value at the date of revaluation less any subsequent accumulated amortisation and subsequent impairment losses - provided that the fair value can be determined by reference to an active market.
Revaluations are made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the reporting date.

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.
Intangible asset valuation
Cryptocurrency assets held are considered intangible assets of the Company's. Under FRS 102 paragraph 18.18, the choice has been made to use the revalued amount, being its fair value on the date of revaluation by reference to an active market.    

 
2.7

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.

Advances to Artists
Advances to artists represent advances made direct to artists for recording and other costs made on behalf of artists under contract. These advances, which are only recoverable against future royalties, are charged to the profit and loss account as they are recouped or where the probability of future recoupment in respect of thereof is unlikely.

Page 4

 
THE OTHER SONGS STUDIO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.


3.


Employees

The Company has no other employees other than the directors, who did not receive any remuneration (Restated 2023 - 0). The employee costs relate to a recharge of costs from the parent company, The Other Songs Limited.


4.


Accounting estimates and judgements

The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgements that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the reporting date and the reported amounts of revenues and expenses during the reporting period.
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The following are the significant judgements used in applying the accounting policies of the Company that have the most significant effect on the financial statements:
Intangible asset valuation
Cryptocurrency assets held are considered intangible assets of the Company's. Under FRS 102 paragraph 18.18, the choice has been made to use the revalued amount, being its fair value on the date of revaluation by reference to an active market.    

Page 5

 
THE OTHER SONGS STUDIO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Intangible assets




Crypto
currencies

£



Cost


At 1 July 2023
7,063


Revaluation surplus
2,898



At 30 June 2024

9,961






Net book value



At 30 June 2024
9,961



At 30 June 2023
7,063




6.


Debtors

2024
2023
£
£


Trade debtors
50,000
50,000

Amounts owed by group undertakings
394,161
-

Other debtors
162,073
18,524

Prepayments and accrued income
-
483,259

Tax recoverable
-
75,525

606,234
627,308



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
93,820
137,364

93,820
137,364


Page 6

 
THE OTHER SONGS STUDIO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
158
22,241

Amounts owed to group undertakings
1,001,925
841,203

Other creditors
9
925

Accruals and deferred income
30,208
204,501

1,032,300
1,068,870



9.


Controlling party

This company is a wholly owned subsidiary of The Other Songs Limited.

 
Page 7