Company registration number 08254129 (England and Wales)
CASA-D PRODUCTIONS LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
CASA-D PRODUCTIONS LTD
CONTENTS
Page
Directors' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
CASA-D PRODUCTIONS LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
- 1 -
The directors present their annual report and financial statements for the year ended 31 December 2021.
Principal activities
T
he principal activity of the company continued to be that of music production
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
M Draws
Mrs D Draws
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
M Draws
Director
30 September 2022
CASA-D PRODUCTIONS LTD
BALANCE SHEET
AS AT
31 DECEMBER 2021
31 December 2021
- 2 -
2021
2020
Notes
£
£
£
£
Fixed assets
Intangible assets
4
200
400
Tangible assets
5
22,741
15,459
22,941
15,859
Current assets
Debtors
6
101,956
154,466
Cash at bank and in hand
288,988
414,610
390,944
569,076
Creditors: amounts falling due within one year
7
(21,275)
(29,665)
Net current assets
369,669
539,411
Net assets
392,610
555,270
Capital and reserves
Called up share capital
8
1,100
1,100
Profit and loss reserves
391,510
554,170
Total equity
392,610
555,270
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 2021 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 2022 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 2021
- 3 -
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:
Leasehold improvements
at 20% per annum on cost
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 2021
1
Accounting policies
(Continued)
- 4 -
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
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
in the period
are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
2
2
CASA-D PRODUCTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 5 -
4
Intangible fixed assets
Intellectual property
Other
Total
£
£
£
Cost
At 1 January 2021 and 31 December 2021
835,410
1,000
836,410
Amortisation and impairment
At 1 January 2021
835,410
600
836,010
Amortisation charged for the year
200
200
At 31 December 2021
835,410
800
836,210
Carrying amount
At 31 December 2021
200
200
At 31 December 2020
400
400
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2021
4,320
82,171
86,491
Additions
13,163
3,247
16,410
At 31 December 2021
17,483
85,418
102,901
Depreciation and impairment
At 1 January 2021
864
70,168
71,032
Depreciation charged in the year
3,497
5,631
9,128
At 31 December 2021
4,361
75,799
80,160
Carrying amount
At 31 December 2021
13,122
9,619
22,741
At 31 December 2020
3,456
12,003
15,459
6
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
11,930
58,288
Corporation tax recoverable
8,592
8,592
Other debtors
81,434
87,586
101,956
154,466
CASA-D PRODUCTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
6
Debtors
(Continued)
- 6 -
7
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
135
2,596
Taxation and social security
878
Other creditors
21,140
26,191
21,275
29,665