Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312024-01-01falseNo description of principal activity1111truetruefalse 00924069 2024-01-01 2024-12-31 00924069 2023-01-01 2023-12-31 00924069 2024-12-31 00924069 2023-12-31 00924069 2023-01-01 00924069 c:Director2 2024-01-01 2024-12-31 00924069 d:Buildings d:ShortLeaseholdAssets 2024-01-01 2024-12-31 00924069 d:Buildings d:ShortLeaseholdAssets 2024-12-31 00924069 d:Buildings d:ShortLeaseholdAssets 2023-12-31 00924069 d:PlantMachinery 2024-01-01 2024-12-31 00924069 d:PlantMachinery 2024-12-31 00924069 d:PlantMachinery 2023-12-31 00924069 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 00924069 d:MotorVehicles 2024-01-01 2024-12-31 00924069 d:MotorVehicles 2024-12-31 00924069 d:MotorVehicles 2023-12-31 00924069 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 00924069 d:OfficeEquipment 2024-01-01 2024-12-31 00924069 d:ComputerEquipment 2024-01-01 2024-12-31 00924069 d:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 00924069 d:OtherPropertyPlantEquipment 2024-12-31 00924069 d:OtherPropertyPlantEquipment 2023-12-31 00924069 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 00924069 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 00924069 d:PatentsTrademarksLicencesConcessionsSimilar 2024-12-31 00924069 d:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 00924069 d:CurrentFinancialInstruments 2024-12-31 00924069 d:CurrentFinancialInstruments 2023-12-31 00924069 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 00924069 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 00924069 d:ShareCapital 2024-01-01 2024-12-31 00924069 d:ShareCapital 2024-12-31 00924069 d:ShareCapital 2023-01-01 2023-12-31 00924069 d:ShareCapital 2023-12-31 00924069 d:ShareCapital 2023-01-01 00924069 d:SharePremium 2024-01-01 2024-12-31 00924069 d:SharePremium 2024-12-31 00924069 d:SharePremium 2023-01-01 2023-12-31 00924069 d:SharePremium 2023-12-31 00924069 d:SharePremium 2023-01-01 00924069 d:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 00924069 d:RetainedEarningsAccumulatedLosses 2024-12-31 00924069 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 00924069 d:RetainedEarningsAccumulatedLosses 2023-12-31 00924069 d:RetainedEarningsAccumulatedLosses 2023-01-01 00924069 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 00924069 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 00924069 d:TaxLossesCarry-forwardsDeferredTax 2024-12-31 00924069 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 00924069 c:OrdinaryShareClass1 2024-01-01 2024-12-31 00924069 c:OrdinaryShareClass1 2024-12-31 00924069 c:OrdinaryShareClass1 2023-12-31 00924069 c:FRS102 2024-01-01 2024-12-31 00924069 c:Audited 2024-01-01 2024-12-31 00924069 c:FullAccounts 2024-01-01 2024-12-31 00924069 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 00924069 c:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 00924069 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 00924069










NSM MUSIC LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
NSM MUSIC LIMITED
REGISTERED NUMBER: 00924069

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
90,351
25,277

  
90,351
25,277

Current assets
  

Stocks
 6 
1,543,948
1,132,964

Debtors: amounts falling due within one year
 7 
1,449,316
1,763,740

Cash at bank and in hand
 8 
2,133,167
1,598,821

  
5,126,431
4,495,525

Creditors: amounts falling due within one year
 9 
(1,432,336)
(1,522,234)

Net current assets
  
 
 
3,694,095
 
 
2,973,291

Total assets less current liabilities
  
3,784,446
2,998,568

Provisions for liabilities
  

Deferred tax
 10 
(18,208)
-

Net assets
  
3,766,238
2,998,568


Capital and reserves
  

Called up share capital 
 11 
1,001
1,001

Share premium account
 12 
348,999
348,999

Profit and loss account
 12 
3,416,238
2,648,568

  
3,766,238
2,998,568


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 2 June 2025.




................................................
G Pinos
Director

The notes on pages 4 to 11 form part of these financial statements.

Page 1

 
NSM MUSIC LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 January 2024
1,001
348,999
2,648,568
2,998,568


Comprehensive income for the year

Profit for the year
-
-
767,670
767,670


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
767,670
767,670


Total transactions with owners
-
-
-
-


At 31 December 2024
1,001
348,999
3,416,238
3,766,238


The notes on pages 4 to 11 form part of these financial statements.

Page 2

 
NSM MUSIC LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 January 2023
1,001
348,999
2,077,895
2,427,895


Comprehensive income for the year

Profit for the year
-
-
570,673
570,673


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
570,673
570,673


Total transactions with owners
-
-
-
-


At 31 December 2023
1,001
348,999
2,648,568
2,998,568


The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
NSM MUSIC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

NSM Music Limited is a private company limited by shares and incorporated in England. Its registered office is Unit 4 Maple Park, Low Fields Avenue, Holbeck, Leeds, LS12 6HH. The registered number is 00924069. The company's principal activity during the year continued to be the sale and maintenance of music juke boxes.

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 directors believe the Company’s financial statements should be prepared on a going concern basis and have considered a period of twelve months from the date of approval of these financial statements. 
After reviewing the Company’s forecasts and projections, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. As such the Company continues to adopt the going concern basis in preparing its financial statements. 

 
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 that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
NSM MUSIC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Turnover

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
Turnover from the sale of goods is recognised on dispatch, when the Company has transferred the significant risks and rewards of ownership to the buyer and retain no control over the goods sold, when the level of turnover and costs can be measured reliably and it is probable that consideration will be received.
Services
Turnover from maintenance and music sales is recognised in the period in which the services are provided when the level of turnover can be measured reliably, it is probable that the level of consideration will be received and the costs incurred and expected to be incurred can be measured reliably.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

  
2.6

Finance costs

Finance costs in relation to the hire purchase, mostly relating to the comparative figures 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.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
NSM MUSIC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

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 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 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 reporting date.


 
2.9

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.

 
2.10

Tangible fixed assets

Tangible fixed assets 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.

Depreciation is provided on the following basis:

Leasehold improvements
-
20%
Straight line
Plant and machinery
-
25%
Straight line
Motor vehicles
-
25%
Straight line
Hired juke boxes
-
20%
Straight line
Computer equipment
-
33%
Straight line
Other fixed assets
-
25%
Straight line

Page 6

 
NSM MUSIC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

  
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.
At each reporting date the company assesses whether stocks are impaired or if an impairment loss recognised in prior periods has reversed. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in the statement of comprehensive income.

 
2.12

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.

  
2.13

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.

 
2.14

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 directors remuneration in the year was £Nil (2023: £Nil). 


The average monthly number of employees, including directors, during the year was 11 (2023 - 11).

Page 7

 
NSM MUSIC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Intangible assets




Computer Software

£



Cost


At 1 January 2024
74,825



At 31 December 2024

74,825



Amortisation


At 1 January 2024
74,825



At 31 December 2024

74,825



Net book value



At 31 December 2024
-



At 31 December 2023
-



Page 8

 
NSM MUSIC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Leasehold improvements
Plant and machinery
Motor vehicles
Other fixed assets
Total

£
£
£
£
£



Cost


At 1 January 2024
19,386
319,651
15,000
-
354,037


Additions
-
5,674
29,899
49,369
84,942



At 31 December 2024

19,386
325,325
44,899
49,369
438,979



Depreciation


At 1 January 2024
12,533
301,227
15,000
-
328,760


Charge for the year 
1,721
8,323
6,852
2,972
19,868



At 31 December 2024

14,254
309,550
21,852
2,972
348,628



Net book value



At 31 December 2024
5,132
15,775
23,047
46,397
90,351



At 31 December 2023
6,853
18,424
-
-
25,277


6.


Stocks

2024
2023
£
£

Finished goods and goods for resale
1,543,948
1,132,964


Stock recognised in cost of sales during the year as an expense was £2,904,791 (2023: £1,714,835).


7.


Debtors

2024
2023
£
£


Trade debtors
1,263,792
1,527,076

Amounts owed by group undertakings
-
73,786

Other debtors
-
1,095

Prepayments and accrued income
185,524
160,817

Deferred taxation
-
966

1,449,316
1,763,740


Page 9

 
NSM MUSIC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,133,167
1,598,821



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
34,564
362,356

Amounts owed to group undertakings
137,763
-

Corporation tax
144,417
48,020

Other taxation and social security
110,872
272,429

Other creditors
3,003
7,566

Accruals and deferred income
1,001,717
831,863

1,432,336
1,522,234



10.


Deferred taxation




2024


£






At beginning of year
966


Charged to profit or loss
(19,174)



At end of year
(18,208)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(19,594)
(2,651)

Other timing differences
1,386
3,617

(18,208)
966

Page 10

 
NSM MUSIC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


Share capital

2024
2023
£
£
Authorised, allotted, called up and fully paid



1,001 (2023 - 1,001) Ordinary shares of £1.00 each
1,001
1,001



12.


Reserves

Share premium account

Includes premiums received on issue of share capital less associated transaction costs arising from the share issue.

Profit and loss account

Includes all distributable current and prior period retained profits and losses.


13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the Company in an independently administered fund. The pension cost charge
represents contributions payable by the Company to the fund and amounted to £33,916 (2023: £30,850).
Contributions totalling £3,003 (2023: £2,768) were payable to the fund at the balance sheet date


14.


Related party transactions

The company has taken advantage of the exemption available within FRS 102 not to disclose details of any transactions between itself and its fellow group undertakings on the basis that it is a subsidiary undertaking where 100% of the voting rights are controlled with the Group.


15.


Controlling party

The immediate parent undertaking is NSM Music Group Limited, a company incorporated in Great Britain.
The smallest and largest group in which the results of the company are consolidated is that headed by Music Network Holdings Inc, which is incorporated in the USA. The parent company does not prepare publicly available consolidated accounts.
The Directors consider the ultimate parent undertaking to be Coral Tree Partners.


16.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 2 June 2025 by Andrew Allchin (Senior statutory auditor) on behalf of RSM UK Audit LLP.


Page 11