Caseware UK (AP4) 2024.0.164 2024.0.164 2025-08-31 2025-08-31 2026-05-15 true false 1 No description of principal activity 2024-09-01 false 0 true The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01346089 2024-09-01 2025-08-31 01346089 2023-09-01 2024-08-31 01346089 2025-08-31 01346089 2024-08-31 01346089 c:Director2 2024-09-01 2025-08-31 01346089 d:OtherPropertyPlantEquipment 2024-09-01 2025-08-31 01346089 d:OtherPropertyPlantEquipment 2025-08-31 01346089 d:OtherPropertyPlantEquipment 2024-08-31 01346089 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2024-09-01 2025-08-31 01346089 d:CurrentFinancialInstruments 2025-08-31 01346089 d:CurrentFinancialInstruments 2024-08-31 01346089 d:CurrentFinancialInstruments d:WithinOneYear 2025-08-31 01346089 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 01346089 d:ShareCapital 2025-08-31 01346089 d:ShareCapital 2024-08-31 01346089 d:RetainedEarningsAccumulatedLosses 2025-08-31 01346089 d:RetainedEarningsAccumulatedLosses 2024-08-31 01346089 c:FRS102 2024-09-01 2025-08-31 01346089 c:AuditExempt-NoAccountantsReport 2024-09-01 2025-08-31 01346089 c:FullAccounts 2024-09-01 2025-08-31 01346089 c:PrivateLimitedCompanyLtd 2024-09-01 2025-08-31 01346089 e:PoundSterling 2024-09-01 2025-08-31 iso4217:GBP xbrli:pure

Registered number: 01346089 MERCURY SONGS LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 AUGUST 2025
MERCURY SONGS LIMITED REGISTERED NUMBER: 01346089 BALANCE SHEET AS AT 31 AUGUST 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | 1,900 |  | 2,111
|  |  | 1,900 |  | 2,111
Current assets |  |  |  |  |
Debtors | 6 | 80,294 |  | 35,116 |
Cash at bank and in hand |  | 1,272,435 |  | 1,971,484 |
|  | 1,352,729 |  | 2,006,600 |
Creditors: amounts falling due within one year | 7 | (483,134) |  | (614,106) |
Net current assets |  |  | 869,595 |  | 1,392,494
Total assets less current liabilities |  |  | 871,495 |  | 1,394,605
Net assets |  |  | 871,495 |  | 1,394,605
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 2 |  | 2
Profit and loss account |  |  | 871,493 |  | 1,394,603
|  |  | 871,495 |  | 1,394,605
Page 1
MERCURY SONGS LIMITED REGISTERED NUMBER: 01346089 BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2025 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 income and retained earnings 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:
A Saleh
Director
Date: 15 May 2026
The notes on pages 3 to 9 form part of these financial statements. Page 2
MERCURY SONGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
1. | General information
Mercury Songs Limited ('the Company') is a private company limited by shares, incorporated under the UK Companies Acts 1948 to 1976 and domiciled in England. The address of the Company's registered office is 124 Finchley Road, London, NW3 5JS. 2.Accounting policies
| 2.1 | Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all reporting periods presented, unless otherwise stated.
| 2.2 | Basis of preparation of financial statements
The financial statements of the Company have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland, and the UK Companies Act 2006. The preparation of financial statements in conformity with Financial Reporting Standard 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Company's accounting policies. Details of those estimates and/or judgments made in applying the Company's accounting policies towards the preparation of these financial statements that may be considered as yielding a significant risk of a material adjustment being made to the carrying amounts of assets and/or liabilities reported in the balance sheet during the next financial reporting period are disclosed in note 3 to the financial statements.
| 2.3 | Going concern
The directors having reviewed the performance of the Company up to the date these financial statements were approved, taking into account of possible changes in trading performance, have determined that the Company will be able to operate within the level of its current facilities and are of the opinion that there exists a reasonable expectation that adequate resources shall be available at the Company's disposal in order for it to continue in operational existence for the foreseeable future. The directors accept that although there does exist an inherent uncertainty that may cast doubt about the ability of the Company to continue as a going concern, as is the case with all companies; the directors consider the uncertainty to be sufficiently insignificant, given the Company's observed operational activity during the year ended 31 August 2025, expected operational activity for the foreseeable future and net asset position as at both the balance sheet date and the date these financial statements were approved by the directors, such that the application of going concern basis in preparing the Company's financial statements remains appropriate and in turn have prepared the Company's financial statements under said basis and not recognised any adjustments in the financial statements that would arise if the going concern basis were to become no longer appropriate. Page 3
MERCURY SONGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 2.Accounting policies (continued)
| 2.4 | Functional and presentational currency
Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the Company operates (the "functional currency"). The functional currency of the Company, and the currency in which the financial statements are presented (the "presentational currency"), is 'Pounds Sterling' (£) rounded to the nearest single unit of currency.
| 2.5 | Foreign currency translation
Foreign currencies are translated into the functional (and presentational) currency using the exchange rates prevailing at the date of the respective transaction or valuation where items are re-measured. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at financial period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.
| 2.6 | Revenue
Turnover comprises revenue recognised by the Company in respect of service fees, royalties and advances receivable from the exploitation of intellectual property in connection with rights, titles and interests held during the reporting period. Revenue is recognised as the fair value of the consideration received or receivable excluding Value Added Tax when the Company receives notification of amounts due in respect of royalties and advances and upon invoice in respect of service fees with amounts accrued and/or deferred in accordance with the terms of the underlying contract.
| 2.7 | Taxation
The tax expense for the financial reporting period comprises solely of current (i.e. corporation) taxation and is recognised in profit or loss. Current taxation is calculated using tax rates and on the basis of tax laws enacted or substantively enacted at the balance sheet date in the countries where the Company operates and generates taxable income.
| 2.8 | Tangible fixed assets
Tangible fixed assets are recognised under the cost model and stated at historical cost less accumulated depreciation. 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 upon acquisition. Page 4
MERCURY SONGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 2.Accounting policies (continued)
| 2.8 | Tangible fixed assets (continued)
Depreciation is provided on the following basis:
|  |  |  | Other fixed assets | - | 10% | reducing balance
Depreciation of a tangible fixed asset commences once the asset is available for use. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.9 | Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities; with said financial assets and liabilities classified in accordance with the substance of the underlying contractual obligations rather than its legal form. Financial assets and liabilities are recognised in the balance sheet upon the Company becoming party to the contractual provisions of the instrument. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or the financial asset is transferred along with substantially all the risks and rewards of ownership of the asset to another party. Financial liabilities are derecognised only when the underlying obligations are discharged, cancelled or expired. The measurement of specific financial assets, financial liabilities, and equity held is as outlined below:
| 2.10 | Debtors
Debtors are initially measured at transaction price (i.e fair value) and subsequently held, at transaction price less provision for impairment of assets.
| 2.11 | Cash and cash equivalents
Cash balances are reported as being financial instruments classified as short term receivables and are represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours and subject to an insignificant risk of changes in value. Cash balances are held at floating interest rates linked to UK bank rates.
| 2.12 | Creditors
Creditors are initially measured and subsequently held at transaction price (i.e fair value). Page 5
MERCURY SONGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 2.Accounting policies (continued)
| 2.13 | Equity and dividends
Ordinary share capital, shown in equity, is initially measured and subsequently held at its nominal value. Where the transaction price for issued shares exceeds their nominal value, the difference is shown under equity in a share premium account with any directly attributable transaction costs associated with the issuing of said shares deducted from said share premium account. Dividends are recognised in the reporting period in which they become legally payable upon approval by the Company's directors.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
In the opinion of the directors, there were no areas of judgment in applying the principal accounting policies, outlined in note 2 of these financial statements, towards the preparation of these financial statements that may be considered as having a significant risk of causing a material adjustment to the carrying amount of assets and/or liabilities carried forward as at the balance sheet date where by which the actual future outcome observed may differ from that originally determined and reported. In preparing the Company's financial statements, the directors may make estimates and assumptions concerning events that have transpired, or were ongoing, during the financial reporting period and continued after the balance sheet date. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors, there were no estimates and/or assumptions made towards the preparation of these financial statements that would be considered as having a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial reporting period.
4. | Employees
The average monthly number of employees, including directors, during the year was 1 (2024: nil). In accordance with UK legislation, certain office holders (i.e. registered company directors or secretaries) of the Company are not employees of the Company on the grounds that they are not party to a contract with the Company that meets the criteria for status of an employee. Page 6
MERCURY SONGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
5. | Tangible fixed assets
|  | Other fixed assets
|  | £
| Cost |
| At 1 September 2024 | 48,100
| At 31 August 2025 | 48,100
| Depreciation |
| At 1 September 2024 | 45,989
| Charge for the year | 211
| At 31 August 2025 | 46,200
| Net book value |
| At 31 August 2025 | 1,900
| At 31 August 2024 | 2,111
Page 7
MERCURY SONGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Falling due within one year |  |
| Trade debtors | 61,899 | 30,963
| Prepayments and accrued income | 18,395 | 4,153
|  | 80,294 | 35,116
| Trade debtors falling due within one year are non-interest bearing and, in the opinion of the directors, of a fair value not materially different to their carrying value. At the balance sheet date, the provision for impairment against debtors falling due within one year was £nil (2024: £nil).
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Corporation tax | 114,022 | 290,832
| Other taxation and social security | 19,468 | 2,304
| Accruals and deferred income | 349,644 | 320,970
|  | 483,134 | 614,106
8. | Financial instruments
The Company held no financial instruments that would require specific disclosure under sections 1.12, 11 or 12 of Financial Reporting Standard 102 and paragraph 36 of Schedule 1 to the Companies Act 2006.
9. | Related party transactions
| During the year, license fees of £75,000 (2024: £75,000) were charged by Mightytape Limited, a company of which Mr H J Beach, Ms M Beach Valli and Mr A Saleh, in their capacity as trustees of the Mr F Mercury Will Trust, are also in control of. The balance due to Mightytape Limited as at the balance sheet date was £75,000 (2024: £nil). During the year the Company incurred commissions of £63,037 (2024: £58,230) payable to Accounta Trust reg., an entity of which Mr H J Beach is a beneficiary. The balance due to Accounta Trust reg. as at the balance sheet date was £79,893 (2024: £149,730).
Page 8
MERCURY SONGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
10. | Controlling party
The Company's immediate and ultimate parent undertaking was Mercury Songs New Holdco Limited by virtue of a 100% holding of the Company's issued share capital. Mercury Songs New Holdco Limited is the parent undertaking of the smallest group to consolidate these financial statements. The registered office of Mercury Songs New Holdco Limited is located at 124 Finchley Road, London, NW3 5JS.
Page 9