Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-3122022-04-01falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.The principal activity of the company continued to be that of record production and managing musicians and composers2truetrue 01359135 2022-04-01 2023-03-31 01359135 2021-04-01 2022-03-31 01359135 2023-03-31 01359135 2022-03-31 01359135 c:Director2 2022-04-01 2023-03-31 01359135 d:Buildings 2022-04-01 2023-03-31 01359135 d:Buildings 2023-03-31 01359135 d:Buildings 2022-03-31 01359135 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01359135 d:FurnitureFittings 2022-04-01 2023-03-31 01359135 d:FurnitureFittings 2023-03-31 01359135 d:FurnitureFittings 2022-03-31 01359135 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01359135 d:ComputerEquipment 2022-04-01 2023-03-31 01359135 d:ComputerEquipment 2023-03-31 01359135 d:ComputerEquipment 2022-03-31 01359135 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01359135 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01359135 d:CurrentFinancialInstruments 2023-03-31 01359135 d:CurrentFinancialInstruments 2022-03-31 01359135 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01359135 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 01359135 d:ShareCapital 2023-03-31 01359135 d:ShareCapital 2022-03-31 01359135 d:RetainedEarningsAccumulatedLosses 2023-03-31 01359135 d:RetainedEarningsAccumulatedLosses 2022-03-31 01359135 c:OrdinaryShareClass1 2022-04-01 2023-03-31 01359135 c:OrdinaryShareClass1 2023-03-31 01359135 c:OrdinaryShareClass1 2022-03-31 01359135 c:FRS102 2022-04-01 2023-03-31 01359135 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 01359135 c:FullAccounts 2022-04-01 2023-03-31 01359135 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 01359135 2 2022-04-01 2023-03-31 01359135 e:PoundSterling 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 01359135














DEUCE MUSIC LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
DEUCE MUSIC LIMITED
REGISTERED NUMBER:01359135

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
37,921
51,506

  
37,921
51,506

Current assets
  

Debtors: amounts falling due within one year
 5 
36,338
56,700

Cash at bank
 6 
3,013,051
1,991,735

  
3,049,389
2,048,435

Creditors: amounts falling due within one year
 7 
(493,137)
(176,356)

Net current assets
  
 
 
2,556,252
 
 
1,872,079

Total assets less current liabilities
  
2,594,173
1,923,585

Provisions for liabilities
  

Deferred tax
  
(1,085)
(1,495)

  
 
 
(1,085)
 
 
(1,495)

Net assets
  
2,593,088
1,922,090


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
2,592,988
1,921,990

  
2,593,088
1,922,090


Page 1

 
DEUCE MUSIC LIMITED
REGISTERED NUMBER:01359135
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

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 profit and loss account 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: 




S Beck
Director

Date: 8 February 2024

Page 2

 
DEUCE MUSIC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Deuce Music Limited is a private company, limited by shares, registered in England and Wales, registration number 01359135. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
 
The principal activity of the company continued to be that of record production and managing musicians and composers.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of the Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each year end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash are presented in the profit and loss account within 'administrative expenses'. All other foreign exchange gains and losses are presented in profit or loss.

 
2.3

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

Turnover from record production and managing musicians and composers is recognised when it is probable the company will receive the rights to the consideration due under the contract.
Royalties receivable are recognised at the year end date by the company.
Advances received are carried forward as deferred income until the earlier of recoupment against contractual royalties due, agreement expiry or recognition that recoupment is unlikely to take place.
 
Page 3

 
DEUCE MUSIC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

 Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Pensions

Defined contribution pension plan

The company operates a defined contribution 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 profit or loss 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.

 
2.7

 Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.8

 Creditors

Short-term creditors are measured at the transaction price. 

 
2.9

 Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors, trade and other creditors, loans with other third parties and loans with related parties.

 
2.10

 Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
DEUCE MUSIC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.11

 Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. 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 by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Freehold property
-
10 years
Fixtures and fittings
-
25% reducing balance
Computer equipment
-
25% straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

 Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
DEUCE MUSIC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Freehold property
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost 


At 1 April 2022
117,271
97,761
7,027
222,059



At 31 March 2023

117,271
97,761
7,027
222,059



Depreciation


At 1 April 2022
71,771
97,354
1,428
170,553


Charge for the year
11,727
101
1,757
13,585



At 31 March 2023

83,498
97,455
3,185
184,138



Net book value



At 31 March 2023
33,773
306
3,842
37,921



At 31 March 2022
45,500
407
5,599
51,506


5.


Debtors

2023
2022
£
£


Trade debtors
8,067
10,107

Other debtors
4,096
10,618

Prepayments and accrued income
24,175
35,975

36,338
56,700



6.


Cash

2023
2022
£
£

Cash at bank
3,013,051
1,991,735


Page 6

 
DEUCE MUSIC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
2,049
2,049

Corporation tax
160,352
45,865

Other taxation and social security
1,971
3,219

Other creditors
68,641
5,142

Accruals
260,124
120,081

493,137
176,356



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100

The ordinary shares have attached to them full rights in the company with respect to voting, dividend and capital distribution (including winding up).


9.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £546 (2022 - £546). Contributions totalling £237 (2022 - £237) were payable to the fund at the balance sheet date and are included in creditors.


10.


Transactions with the director

As at the year end, the director owed the company £4,095 (2022 - £1,535 the company owed the director). This loan is unsecured, interest free and repayable on demand. 

 
Page 7