REGISTERED NUMBER: SC472403 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

CASTLESOUND RECORDINGS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S Hamilton

SECRETARY:

S Hamilton

REGISTERED OFFICE:

The Old School

Park View

Pencaitland

EH34 5DW

REGISTERED NUMBER:

SC472403 (Scotland)

ACCOUNTANTS:

MacDonald Morton Ltd

Chartered Accountants

67 March Road

Edinburgh

EH4 3SU

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

101,535

119,453

101,535

119,453

CURRENT ASSETS

Cash at bank

6,145

4,908

CREDITORS

Amounts falling due within one year

6

30,741

28,576

NET CURRENT LIABILITIES

(24,596

)

(23,668

)

TOTAL ASSETS LESS CURRENT LIABILITIES

76,939

95,785

CREDITORS

Amounts falling due after more than one year

7

(9,445

)

(11,667

)

PROVISIONS FOR LIABILITIES

(19,292

)

(22,696

)

NET ASSETS

48,202

61,422

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

48,201

61,421

SHAREHOLDERS' FUNDS

48,202

61,422

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 July 2025 and were signed by:

S Hamilton - Director

1.	STATUTORY INFORMATION

Castlesound Recordings Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for services to third parties in the normal course of business, net of discounts, VAT and other related taxes. Revenue from services is recognised when services have been provided and the right to consideration has been earned.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures & equipment

-

15% on reducing balance

Financial instruments

Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds the following basic financial instruments.

Financial assets

Cash and cash equivalents - comprise cash in hand and deposits held with banks.

Trade and other debtors are initially measured at the undiscounted amounts receivable from a customer, which is normally the invoiced price. Trade and other debtors are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found an impairment loss is recognised.

Financial liabilities

Trade and other creditors are initially measured at the transaction price, including any transaction costs.

Directors loans are initially measured at the transaction price and are subsequently measured at the undiscounted amount of the cash expected to be paid within the appropriate period of creditors falling due within one year and creditors falling due after more than one year.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

35,000

AMORTISATION

At 1 April 2024

and 31 March 2025

35,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Fixtures

machinery

& equipment

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

290,038

10,816

300,854

DEPRECIATION

At 1 April 2024

174,726

6,675

181,401

Charge for year

17,297

621

17,918

At 31 March 2025

192,023

7,296

199,319

NET BOOK VALUE

At 31 March 2025

98,015

3,520

101,535

At 31 March 2024

115,312

4,141

119,453

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

2,222

2,222

Taxation and social security

24,261

17,880

Other creditors

4,258

8,474

30,741

28,576

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

9,445

11,667

8.	RELATED PARTY DISCLOSURES

As at 31 March 2025 Mr S Hamilton, Director, was due £1,558 (2024: £6,490) from the company which is included in other creditors falling due within one year.