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Registered number: 01344399









ANDY MACKAY SONGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
ANDY MACKAY SONGS LIMITED
REGISTERED NUMBER: 01344399

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
25,101
20,679

Investments
 5 
394,060
766,226

Investment property
  
606,440
-

  
1,025,601
786,905

Current assets
  

Debtors: amounts falling due within one year
 7 
199,547
182,883

Cash at bank and in hand
  
13,429
141,713

  
212,976
324,596

Creditors: amounts falling due within one year
 8 
(85,244)
(72,408)

Net current assets
  
 
 
127,732
 
 
252,188

Total assets less current liabilities
  
1,153,333
1,039,093

Provisions for liabilities
  

Deferred tax
 10 
(25,112)
(5,734)

  
 
 
(25,112)
 
 
(5,734)

Net assets
  
1,128,221
1,033,359


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
 11 
1,128,121
1,033,259

  
1,128,221
1,033,359


Page 1

 
ANDY MACKAY SONGS LIMITED
REGISTERED NUMBER: 01344399
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 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 by: 




Andrew Mackay
Director

Date: 20 June 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
ANDY MACKAY SONGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Andy Mackay Songs Limited is a private company limited by shares incorporated in the United Kingdom and registered in England and Wales. The address of its registered office is 124 Finchley Road, London, NW3 5JS and the address of its principal place of business is Flat 38 Soho Lofts, 10 Richmond Mews, London, W1D 3DD.

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 company's functional and presentational currency is GBP.

The following principal accounting policies have been applied:

 
2.2

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 rebates, value added tax and other sales taxes.
Fees are recognised in the period in which the services were provided. Publishing and record royalties are recognised in the period in which they are received whilst non-recoupable album advances are recognised in the period in which they are receivable.

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss.

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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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 is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


Page 3

 
ANDY MACKAY SONGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.4

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:

Motor vehicles
-
33.33% on written down value
Fixtures, fittings & equipment
-
15% on written down value

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.

 
2.5

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.6

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Valuation of investments

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

Debtors

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

Page 4

 
ANDY MACKAY SONGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.9

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.

 
2.10

Creditors

Short-term creditors are measured at the transaction price.

 
2.11

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to/from related parties and investments in ordinary shares.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.
Investments in non-derivative instruments that are equity to the issuer are measured:
- at fair value with changes recognised in the Statement of income and retained earnings if the shares are publicly traded or their fair value can otherwise be measured reliably;
-  at cost less impairment for all other investments.

  
2.12

Pensions

The company pays contributions into the personal private pension schemes of certain employees. The pension costs charged represent the contributions payable by the company to the funds during the year.


3.


Employees

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

Page 5

 
ANDY MACKAY SONGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Tangible fixed assets





Motor vehicles
Fixtures & fittings
Total

£
£
£



Cost


At 1 October 2023
30,092
32,688
62,780


Additions
-
12,857
12,857


Disposals
-
(2,448)
(2,448)



At 30 September 2024

30,092
43,097
73,189



Depreciation


At 1 October 2023
21,175
20,926
42,101


Charge for the year on owned assets
2,973
3,381
6,354


Disposals
-
(367)
(367)



At 30 September 2024

24,148
23,940
48,088



Net book value



At 30 September 2024
5,944
19,157
25,101



At 30 September 2023
8,917
11,762
20,679


5.


Fixed asset investments





Listed investments

£



Valuation


At 1 October 2023
766,226


Disposals
(448,709)


Revaluations
76,543



At 30 September 2024
394,060




Page 6

 
ANDY MACKAY SONGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Investment property


Freehold investment property

£



Valuation


Additions at cost
606,440



At 30 September 2024
606,440









7.


Debtors

2024
2023
£
£


Trade debtors
13,432
10,979

Other debtors
186,115
165,815

Tax recoverable
-
6,089

199,547
182,883



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
35,663
28,322

Other taxation and social security
13,661
27,252

Other creditors
22,645
5,569

Accruals
13,275
11,265

85,244
72,408


Page 7

 
ANDY MACKAY SONGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
394,060
766,226




Financial assets measured at fair value through profit or loss comprise listed investments held as part of a portfolio.


10.


Deferred taxation




2024


£






At beginning of year
5,734


Charged to profit or loss
19,378



At end of year
25,112

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Unrealised surplus on revaluation of listed investments
25,112
5,734

25,112
5,734


11.


Reserves

Profit & loss account

Included within the profit and loss account is non-distributable reserves totalling £75,336 (2023: £17,201) which represents the net unrealised surplus on the revaluation of the company's listed investments to fair value.

Page 8

 
ANDY MACKAY SONGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

12.


Related party transactions

The company has reflected management fees of £19,756 (2023: £17,274) receivable from the director, Mr A Mackay, in respect of his personal royalties. At the reporting date the company was owed £13,432 (2023: £10,979) by Mr A Mackay.
During the year the company charged fees totalling £nil (2023: £45,000) to Laminmoor Limited, a company of which Mr A Mackay is a director and shareholder.
The director has charged the company rent of £12,000 (2023: £15,000) in respect of the provision of studio/music room and office facilities.
The directors have provided the company with a loan which is interest-free, unsecured and repayable on demand. At the reporting date the directors were owed £21,592 (2023: £3,740) by the company.
The company has provided an interest free loan, which is unsecured and repayable upon demand, to Alpha Mackay Limited, a company of which Mr A Mackay is a director and a 25% shareholder. At the reporting date Alpha Mackay Limited owed £185,015 (2023: £165,715) to the company.

 
Page 9