Caseware UK (AP4) 2024.0.164 2024.0.164 2024-07-312024-07-31212023-08-01falsetruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08162579 2023-08-01 2024-07-31 08162579 2022-08-01 2023-07-31 08162579 2024-07-31 08162579 2023-07-31 08162579 c:Director1 2023-08-01 2024-07-31 08162579 d:PlantMachinery 2023-08-01 2024-07-31 08162579 d:PlantMachinery 2024-07-31 08162579 d:PlantMachinery 2023-07-31 08162579 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 08162579 d:OfficeEquipment 2023-08-01 2024-07-31 08162579 d:OfficeEquipment 2024-07-31 08162579 d:OfficeEquipment 2023-07-31 08162579 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 08162579 d:ComputerEquipment 2023-08-01 2024-07-31 08162579 d:ComputerEquipment 2024-07-31 08162579 d:ComputerEquipment 2023-07-31 08162579 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 08162579 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 08162579 d:CurrentFinancialInstruments 2024-07-31 08162579 d:CurrentFinancialInstruments 2023-07-31 08162579 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 08162579 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 08162579 d:ShareCapital 2024-07-31 08162579 d:ShareCapital 2023-07-31 08162579 d:RetainedEarningsAccumulatedLosses 2024-07-31 08162579 d:RetainedEarningsAccumulatedLosses 2023-07-31 08162579 d:AcceleratedTaxDepreciationDeferredTax 2024-07-31 08162579 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 08162579 c:OrdinaryShareClass1 2023-08-01 2024-07-31 08162579 c:OrdinaryShareClass1 2024-07-31 08162579 c:OrdinaryShareClass1 2023-07-31 08162579 c:FRS102 2023-08-01 2024-07-31 08162579 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 08162579 c:FullAccounts 2023-08-01 2024-07-31 08162579 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 08162579 2 2023-08-01 2024-07-31 08162579 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 08162579














FLOATING PRODUCTIONS LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

 
FLOATING PRODUCTIONS LIMITED
REGISTERED NUMBER:08162579

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
175,408
143,425

  
175,408
143,425

Current assets
  

Debtors: amounts falling due within one year
 5 
499,232
218,695

Cash at bank
 6 
230,830
141,309

  
730,062
360,004

Creditors: amounts falling due within one year
 7 
(505,735)
(259,645)

Net current assets
  
 
 
224,327
 
 
100,359

Total assets less current liabilities
  
399,735
243,784

Provisions for liabilities
  

Deferred tax
 8 
(43,253)
(35,126)

  
 
 
(43,253)
 
 
(35,126)

Net assets
  
356,482
208,658


Capital and reserves
  

Called up share capital 
 9 
2
2

Profit and loss account
  
356,480
208,656

  
356,482
208,658


Page 1

 
FLOATING PRODUCTIONS LIMITED
REGISTERED NUMBER:08162579
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The director considers 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 director acknowledges his 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: 




Dr S T Shepherd
Director

Date: 15 July 2025

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
FLOATING PRODUCTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Floating Productions Limited is a private company, limited by shares, registered in England and Wales, registration number 08162579. 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 music production. 

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 the Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

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 that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within 'administrative expenses'. All other foreign exchange gains and losses are presented in profit and loss account.

 
2.3

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 music production is recognised when it is probable the company will receive the consideration due under the contract.
Royalties receivable are recognised at the year end date by the company.

 
2.4

Interest income

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

Page 3

 
FLOATING PRODUCTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.5

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 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 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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.6

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
-
25%
reducing balance
Office equipment
-
25%
reducing balance
Computer equipment
-
25%
reducing balance

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.

 
2.7

Debtors

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

 
2.8

Cash

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

Page 4

 
FLOATING PRODUCTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.9

 Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

 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, and loans with related parties.

 
2.11

 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.


Employees

The average monthly number of employees, including the director, during the year was 1 (2023 - 2).


4.


Tangible fixed assets





Plant and machinery
Office equipment
Computer equipment
Total

£
£
£
£



Cost


At 1 August 2023
368,683
72,067
101,997
542,747


Additions
-
70,046
9,221
79,267



At 31 July 2024

368,683
142,113
111,218
622,014



Depreciation


At 1 August 2023
312,651
15,041
71,630
399,322


Charge for the year
14,008
25,003
8,273
47,284



At 31 July 2024

326,659
40,044
79,903
446,606



Net book value



At 31 July 2024
42,024
102,069
31,315
175,408



At 31 July 2023
56,032
57,026
30,367
143,425

Page 5

 
FLOATING PRODUCTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
314,133
4,471

Amounts owed by connected companies
89,297
89,297

Other debtors
-
56,679

Prepayments and accrued income
95,802
68,248

499,232
218,695



6.


Cash

2024
2023
£
£

Cash at bank
230,830
141,309



7.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
568
12,701

Amounts owed to connected companies
41,522
198,832

Corporation tax
19,127
200

Other taxation and social security
22,384
8,448

Other creditors
99,766
9,726

Accruals and deferred income
322,368
29,738

505,735
259,645



8.


Deferred taxation




2024


£






At beginning of year
35,126


Charged to profit or loss
(8,127)



At end of year
43,253

Page 6

 
FLOATING PRODUCTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
 
8.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fixed asset timing differences
43,253
35,126


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1.00 each
2
2



10.


Transactions with the director

As at the year end, the company owed £98,997 to the director (2023 - the director owed £56,153 to the company). The loan is unsecured, repayable on demand and interest has been charged at official rate.
During the year, dividends of £30,000 (2023 - £NIL) were paid to the director.

 
Page 7