Company Registration No. 08254129 (England and Wales)
CASA-D PRODUCTIONS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
PAGES FOR FILING WITH REGISTRAR
CASA-D PRODUCTIONS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
CASA-D PRODUCTIONS LTD
BALANCE SHEET
AS AT 31 DECEMBER 2018
31 December 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Intangible assets
3
800
-
Tangible assets
4
10,456
14,132
11,256
14,132
Current assets
Debtors
5
132,187
110,965
Cash at bank and in hand
504,543
473,950
636,730
584,915
Creditors: amounts falling due within one year
6
(88,774)
(84,542)
Net current assets
547,956
500,373
Total assets less current liabilities
559,212
514,505
Capital and reserves
Called up share capital
7
1,100
1,100
Share premium account
870,897
870,897
Profit and loss reserves
(312,785)
(357,492)
Total equity
559,212
514,505
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 30 September 2019 and are signed on its behalf by:
M Draws
Director
Company Registration No. 08254129
CASA-D PRODUCTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
- 2 -
1
Accounting policies
Company information
Casa-D Productions Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
180 Great Portland Street, London, W1W 5QZ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for music recording and royalties net of VAT.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated
amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which 5 years.
Goodwill has now been fully amortised.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Licences
20%
1.5
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
at 20% per annum on cost
Fixtures, fittings & equipment
at 20% per annum on cost
Websites
at 25% per annum on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.6
Financial instruments
The company
only
has
basic
financial instruments.
CASA-D PRODUCTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
1
Accounting policies
(Continued)
- 3 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method
.
Basic financial liabilities, including creditors, bank loans, loans from
fellow group companies are
initially recognised at transaction price
.
1.7
Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Current tax
The tax expense represents the sum of the tax currently payable
.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2017 - 2).
CASA-D PRODUCTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
- 4 -
3
Intangible fixed assets
Intellectual property
Other
Total
£
£
£
Cost
At 1 January 2018
835,410
-
835,410
Additions
-
1,000
1,000
At 31 December 2018
835,410
1,000
836,410
Amortisation and impairment
At 1 January 2018
835,410
-
835,410
Amortisation charged for the year
-
200
200
At 31 December 2018
835,410
200
835,610
Carrying amount
At 31 December 2018
-
800
800
At 31 December 2017
-
-
-
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2018
64,139
Additions
5,519
At 31 December 2018
69,658
Depreciation and impairment
At 1 January 2018
50,007
Depreciation charged in the year
9,195
At 31 December 2018
59,202
Carrying amount
At 31 December 2018
10,456
At 31 December 2017
14,132
CASA-D PRODUCTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
- 5 -
5
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
5,802
3,098
Other debtors
126,385
107,867
132,187
110,965
6
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
-
9,755
Corporation tax
40,426
49,535
Other taxation and social security
6,387
-
Other creditors
41,961
25,252
88,774
84,542