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REGISTERED NUMBER: 06251497 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 May 2023

for

Deep Blue C Limited

Deep Blue C Limited (Registered number: 06251497)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Deep Blue C Limited

Company Information
for the Year Ended 31 May 2023







DIRECTOR: P J Worsfold





REGISTERED OFFICE: Airport House
Suite 43-45
Purley Way
Croydon
Surrey
CR0 0XZ





REGISTERED NUMBER: 06251497 (England and Wales)





ACCOUNTANTS: Ledger Sparks Limited
Airport House
Suite 43-45
Purley Way
Croydon
CR0 0XZ

Deep Blue C Limited (Registered number: 06251497)

Balance Sheet
31 May 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 1,000 2,000
Tangible assets 5 3,579 4,014
Investments 6 750 750
5,329 6,764

CURRENT ASSETS
Stocks - 2,556
Debtors 7 4,230 9,485
Cash at bank 56,859 57,532
61,089 69,573
CREDITORS
Amounts falling due within one year 8 (33,190 ) (12,826 )
NET CURRENT ASSETS 27,899 56,747
TOTAL ASSETS LESS CURRENT
LIABILITIES

33,228

63,511

CREDITORS
Amounts falling due after more than one year 9 (17,463 ) (24,386 )

PROVISIONS FOR LIABILITIES 10 (680 ) (743 )
NET ASSETS 15,085 38,382

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 11 14,085 37,382
15,085 38,382

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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.

Deep Blue C Limited (Registered number: 06251497)

Balance Sheet - continued
31 May 2023


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 October 2023 and were signed by:





P J Worsfold - Director


Deep Blue C Limited (Registered number: 06251497)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Deep Blue C Limited is a private company, limited by shares , registered in England and Wales. 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 (£).


The principal activity of the company was that of music consultancy and brokerage.

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.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS
The financial statements contain information about Deep Blue C Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

TURNOVER
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

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

Fixtures and fittings 25% on reducing balance

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.

GOVERNMENT GRANTS
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Deep Blue C Limited (Registered number: 06251497)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loan to related parties and investments in non-puttable ordinary shares.

TAXATION
The tax expense represents the sum of the tax currently payable and deferred tax.

CURRENT TAX
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.

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

FOREIGN CURRENCIES
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.

DEFINED CONTRIBUTION - PENSION PLAN
The company operates a defined contribution pension 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 the statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

GOING CONCERN
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements and will continue to support the company financially

Deep Blue C Limited (Registered number: 06251497)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

INVESTMENT
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a longterm interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

PROVISIONS FOR LIABILITIES
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of comprehensive income in the year that the Company becomes aware of the obligation and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in Balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 June 2022
and 31 May 2023 10,000
AMORTISATION
At 1 June 2022 8,000
Amortisation for year 1,000
At 31 May 2023 9,000
NET BOOK VALUE
At 31 May 2023 1,000
At 31 May 2022 2,000

Deep Blue C Limited (Registered number: 06251497)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. INTANGIBLE FIXED ASSETS - continued



5. TANGIBLE FIXED ASSETS
Furniture,
Fixtures
and
equipments
£   
COST
At 1 June 2022
and 31 May 2023 9,530
DEPRECIATION
At 1 June 2022 5,516
Charge for year 435
At 31 May 2023 5,951
NET BOOK VALUE
At 31 May 2023 3,579
At 31 May 2022 4,014

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 June 2022
and 31 May 2023 750
NET BOOK VALUE
At 31 May 2023 750
At 31 May 2022 750

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Market Place Solutions UK Ltd
Registered office: Airport House Suite 43-45, Purley Way, Croydon Surrey, CR0 0XZ
Nature of business: Employment placement agencies
%
Class of shares: holding
Ordinary 75.00
30/6/23 30/6/22
£    £   
Aggregate capital and reserves (13,777 ) (13,777 )

Deep Blue C Limited (Registered number: 06251497)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 4,230 9,485

The director considers the carrying value of trade and other receivables approximate to their fair value.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,046 7,124
Taxation and social security 2,528 2,190
Other creditors 23,616 3,512
33,190 12,826

The director considers the carrying amounts of current liabilities approximate to their fair values

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 17,463 24,386

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 680 743

Deferred
tax
£   
Balance at 1 June 2022 743
Provided during year (63 )
Balance at 31 May 2023 680

11. RESERVES

PROFIT AND LOSS RESERVES
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

12. RELATED PARTY DISCLOSURES

At the balance sheet date included in other creditors is amount of £11,806 (2022 - £447) due to the director P Worsfold.