Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-302trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-07-01false2truefalse 08577151 2023-07-01 2024-06-30 08577151 2022-07-01 2023-06-30 08577151 2024-06-30 08577151 2023-06-30 08577151 2022-07-01 08577151 c:Director1 2023-07-01 2024-06-30 08577151 d:FurnitureFittings 2023-07-01 2024-06-30 08577151 d:FurnitureFittings 2024-06-30 08577151 d:FurnitureFittings 2023-06-30 08577151 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 08577151 d:ComputerEquipment 2023-07-01 2024-06-30 08577151 d:CurrentFinancialInstruments 2024-06-30 08577151 d:CurrentFinancialInstruments 2023-06-30 08577151 d:Non-currentFinancialInstruments 2024-06-30 08577151 d:Non-currentFinancialInstruments 2023-06-30 08577151 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 08577151 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 08577151 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 08577151 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 08577151 d:ShareCapital 2023-07-01 2024-06-30 08577151 d:ShareCapital 2024-06-30 08577151 d:ShareCapital 2022-07-01 2023-06-30 08577151 d:ShareCapital 2023-06-30 08577151 d:ShareCapital 2022-07-01 08577151 d:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 08577151 d:RetainedEarningsAccumulatedLosses 2024-06-30 08577151 d:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 08577151 d:RetainedEarningsAccumulatedLosses 2023-06-30 08577151 d:RetainedEarningsAccumulatedLosses 2022-07-01 08577151 c:OrdinaryShareClass1 2023-07-01 2024-06-30 08577151 c:OrdinaryShareClass1 2024-06-30 08577151 c:OrdinaryShareClass1 2023-06-30 08577151 c:FRS102 2023-07-01 2024-06-30 08577151 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 08577151 c:FullAccounts 2023-07-01 2024-06-30 08577151 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08577151 2 2023-07-01 2024-06-30 08577151 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 08577151














BARNES MUSIC LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
BARNES MUSIC LIMITED
REGISTERED NUMBER:08577151

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,188
1,620

  
1,188
1,620

Current assets
  

Debtors: amounts falling due within one year
 5 
47,486
40,720

Cash at bank and in hand
 6 
100
100

  
47,586
40,820

Creditors: amounts falling due within one year
 7 
(30,950)
(20,539)

Net current assets
  
 
 
16,636
 
 
20,281

Total assets less current liabilities
  
17,824
21,901

Creditors: amounts falling due after more than one year
 8 
(5,200)
(10,000)

Provisions for liabilities
  

Deferred tax
  
(297)
(405)

  
 
 
(297)
 
 
(405)

Net assets
  
12,327
11,496


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
12,227
11,396

  
12,327
11,496


Page 1

 
BARNES MUSIC LIMITED
REGISTERED NUMBER:08577151
    
BALANCE SHEET (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 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: 




J R Barnes
Director

Date: 19 June 2025

The notes on pages 4 to 8 form part of these financial statements.

Page 2

 
BARNES MUSIC LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 July 2022
100
1,629
1,729


Comprehensive income for the year

Profit for the year
-
32,767
32,767
Total comprehensive income for the year
-
32,767
32,767


Contributions by and distributions to owners

Dividends: Equity capital
-
(23,000)
(23,000)


Total transactions with owners
-
(23,000)
(23,000)



At 1 July 2023
100
11,396
11,496


Comprehensive income for the year

Profit for the year
-
17,831
17,831
Total comprehensive income for the year
-
17,831
17,831


Contributions by and distributions to owners

Dividends: Equity capital
-
(17,000)
(17,000)


Total transactions with owners
-
(17,000)
(17,000)


At 30 June 2024
100
12,227
12,327


Page 3

 
BARNES MUSIC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Barnes Music Limited is a private company, limited by shares, registered in England and Wales, registration number 08577151. 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 management of musicians

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.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover 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 the management of musicians is recognised when it is probable that the company will receive the rights to the consideration due under the contract.
Royalties receivable are recognised in the accounting year in which it was received.

 
2.3

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:

Fixtures and fittings
-
33%
straight-line
Computer equipment
-
33%
straight-line

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.

 
2.4

Debtors

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

Page 4

 
BARNES MUSIC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Cash

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

 
2.6

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.

  
2.7

Financial instruments

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

 
2.8

 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. 

 
2.9

 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.

 
2.10

 Interest income

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

 
2.11

 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.


Page 5

 
BARNES MUSIC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Fixtures and fittings

£



Cost 


At 1 July 2023
12,850


Additions
869



At 30 June 2024

13,719



Depreciation


At 1 July 2023
11,230


Charge for the year
1,301



At 30 June 2024

12,531



Net book value



At 30 June 2024
1,188



At 30 June 2023
1,620


5.


Debtors

2024
2023
£
£


Trade debtors
16,123
13,626

Other debtors
19,416
18,852

Prepayment and accrued income
8,846
6,244

Tax recoverable
3,101
1,998

47,486
40,720


Page 6

 
BARNES MUSIC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Cash

2024
2023
£
£

Cash at bank and in hand
100
100

Less: bank overdrafts
(9,511)
(7,482)

(9,411)
(7,382)



7.


Creditors: amounts falling due within one year

2024
2023
£
£

Bank overdrafts
9,511
7,482

Bank loans
4,800
4,800

Corporation tax
6,098
-

Other taxation and social security
5,041
2,607

Accruals
5,500
5,650

30,950
20,539


Included in creditors due less than one year is a Coronavirus Bounce Back Loan, which is fully guaranteed by the government.


8.


Creditors: amounts falling due after more than one year

2024
2023
£
£

Bank loans
5,200
10,000


Included in creditors due more than one year is a Coronavirus Bounce Back Loan, which is fully guaranteed by the government.


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



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


Page 7

 
BARNES MUSIC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Transactions with directors

During the year, the company advanced £9,435 (2023 - £22,375) to the directors. As at the year end, the directors owed £19,416 (2023 - £16,149) to the company. The loan is unsecured, repayable on demand and interest has been charged on the loan at the official interest rate. 

During the year, dividends of £17,000 (2023 - £23,000) was paid to the directors.

 
Page 8