Caseware UK (AP4) 2024.0.164 2024.0.164 2024-11-302024-11-30No description of principal activity2023-12-01false33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06713746 2023-12-01 2024-11-30 06713746 2022-12-01 2023-11-30 06713746 2024-11-30 06713746 2023-11-30 06713746 c:Director1 2023-12-01 2024-11-30 06713746 c:Director2 2023-12-01 2024-11-30 06713746 d:PlantMachinery 2023-12-01 2024-11-30 06713746 d:PlantMachinery 2024-11-30 06713746 d:PlantMachinery 2023-11-30 06713746 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 06713746 d:MotorVehicles 2023-12-01 2024-11-30 06713746 d:MotorVehicles 2024-11-30 06713746 d:MotorVehicles 2023-11-30 06713746 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 06713746 d:OfficeEquipment 2023-12-01 2024-11-30 06713746 d:OfficeEquipment 2024-11-30 06713746 d:OfficeEquipment 2023-11-30 06713746 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 06713746 d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 06713746 d:Goodwill 2023-12-01 2024-11-30 06713746 d:Goodwill 2024-11-30 06713746 d:Goodwill 2023-11-30 06713746 d:CurrentFinancialInstruments 2024-11-30 06713746 d:CurrentFinancialInstruments 2023-11-30 06713746 d:Non-currentFinancialInstruments 2024-11-30 06713746 d:Non-currentFinancialInstruments 2023-11-30 06713746 d:CurrentFinancialInstruments d:WithinOneYear 2024-11-30 06713746 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 06713746 d:Non-currentFinancialInstruments d:AfterOneYear 2024-11-30 06713746 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 06713746 d:ShareCapital 2024-11-30 06713746 d:ShareCapital 2023-11-30 06713746 d:RetainedEarningsAccumulatedLosses 2024-11-30 06713746 d:RetainedEarningsAccumulatedLosses 2023-11-30 06713746 c:OrdinaryShareClass1 2023-12-01 2024-11-30 06713746 c:OrdinaryShareClass1 2024-11-30 06713746 c:OrdinaryShareClass1 2023-11-30 06713746 c:FRS102 2023-12-01 2024-11-30 06713746 c:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 06713746 c:FullAccounts 2023-12-01 2024-11-30 06713746 c:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 06713746 d:AcceleratedTaxDepreciationDeferredTax 2024-11-30 06713746 d:AcceleratedTaxDepreciationDeferredTax 2023-11-30 06713746 d:TaxLossesCarry-forwardsDeferredTax 2024-11-30 06713746 d:TaxLossesCarry-forwardsDeferredTax 2023-11-30 06713746 d:Goodwill d:OwnedIntangibleAssets 2023-12-01 2024-11-30 06713746 e:PoundSterling 2023-12-01 2024-11-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 06713746










CULTURE COLONY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2024

 
CULTURE COLONY LIMITED
REGISTERED NUMBER: 06713746

BALANCE SHEET
AS AT 30 NOVEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
2,612
3,827

Tangible assets
 6 
44,023
43,810

  
46,635
47,637

Current assets
  

Debtors: amounts falling due within one year
 7 
1,243
6,275

Cash at bank and in hand
  
1,783
2,233

  
3,026
8,508

Creditors: amounts falling due within one year
 8 
(24,452)
(21,139)

Net current liabilities
  
 
 
(21,426)
 
 
(12,631)

Total assets less current liabilities
  
25,209
35,006

Creditors: amounts falling due after more than one year
 9 
(9,327)
(14,236)

Provisions for liabilities
  

Deferred tax
 10 
(9,492)
(10,411)

  
 
 
(9,492)
 
 
(10,411)

Net assets
  
6,390
10,359


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
6,290
10,259

  
6,390
10,359


Page 1

 
CULTURE COLONY LIMITED
REGISTERED NUMBER: 06713746
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 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 statement of comprehensive income 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 1 June 2025.




Peter Telfer
Suzanne Kemp
Director
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
CULTURE COLONY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

Culture Colony Limited, (06713746) , is a private company, limited by shares, incorporated in England and Wales, with its registered office and principal place of business at 1 Bryndulas, Ceinws, Machynlleth, Powys, SY20 9EY. 
The principal activity of the company continues to be video production activities. 

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

The accounts have been prepared on a going concern basis and with the continued support of the directors and other creditors/lenders.

Page 3

 
CULTURE COLONY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 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

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
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

Borrowing costs

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

Page 4

 
CULTURE COLONY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.7

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 income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet 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 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 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 balance sheet date.


 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other 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.

Page 5

 
CULTURE COLONY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
10%
Motor vehicles
-
10%
Office equipment
-
10%

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. 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.

 
2.11

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.

 
2.12

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

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
CULTURE COLONY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.14

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.15

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.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgments 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 company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates nor assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.    


4.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 7

 
CULTURE COLONY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

5.


Intangible assets




Website

£



Cost


At 1 December 2023
53,186



At 30 November 2024

53,186



Amortisation


At 1 December 2023
49,359


Charge for the year on owned assets
1,215



At 30 November 2024

50,574



Net book value



At 30 November 2024
2,612



At 30 November 2023
3,827



Page 8

 
CULTURE COLONY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

6.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 December 2023
77,845
27,341
7,940
113,126


Additions
574
-
4,531
5,105



At 30 November 2024

78,419
27,341
12,471
118,231



Depreciation


At 1 December 2023
53,480
12,004
3,832
69,316


Charge for the year on owned assets
2,494
1,534
864
4,892



At 30 November 2024

55,974
13,538
4,696
74,208



Net book value



At 30 November 2024
22,445
13,803
7,775
44,023



At 30 November 2023
24,366
15,337
4,107
43,810

Page 9

 
CULTURE COLONY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

7.


Debtors

2024
2023
£
£


Trade debtors
-
5,160

Other debtors
33
-

Prepayments and accrued income
1,210
1,115

1,243
6,275



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other taxation and social security
-
2,393

Other creditors
22,802
17,086

Accruals and deferred income
1,650
1,660

24,452
21,139



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
8,693
13,532

Other creditors
634
704

9,327
14,236


Page 10

 
CULTURE COLONY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

10.


Deferred taxation




2024


£






At beginning of year
10,411


Charged to profit or loss
(919)



At end of year
9,492

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
11,006
10,953

Tax losses carried forward
(1,514)
(542)

9,492
10,411


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100


 
Page 11