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REGISTERED NUMBER: 08909640 (England and Wales)















Financial Statements for the Year Ended 29 February 2024

for

Knee Deep In Sound Limited

Knee Deep In Sound Limited (Registered number: 08909640)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Knee Deep In Sound Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: D Padley
G R Blackburn





SECRETARY:





REGISTERED OFFICE: Fulham Palace
Bishops Avenue
London
SW6 6EA





REGISTERED NUMBER: 08909640 (England and Wales)





ACCOUNTANTS: Mansfield & Co Chartered Accountants
55 Kentish Town Road
Camden Town
London
NW1 8NX

Knee Deep In Sound Limited (Registered number: 08909640)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £   
CURRENT ASSETS
Debtors 4 2,400 5,934
Prepayments and accrued income - 927
Cash at bank 209,094 137,105
211,494 143,966
CREDITORS
Amounts falling due within one year 5 198,741 135,009
NET CURRENT ASSETS 12,753 8,957
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,753

8,957

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 12,743 8,947
SHAREHOLDERS' FUNDS 12,753 8,957

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 November 2024 and were signed on its behalf by:





G R Blackburn - Director


Knee Deep In Sound Limited (Registered number: 08909640)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Knee Deep In Sound 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 1,638 4,053
Other debtors 762 1,881
2,400 5,934

Knee Deep In Sound Limited (Registered number: 08909640)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 123 2,059
Taxation and social security 890 383
Other creditors 197,728 132,567
198,741 135,009

6. RELATED PARTY DISCLOSURES

KDIS Industries Limited

A company owned and controlled by Mr Padley.

During the year the company provided for a fee for Artiste and repertoire services to KDIS Industries Limited in in the amount of £0 (2023 : £49,000).

As at 29 February 2024 the amount due from the company to KDIS Industries Limited was £0 (2023 : £49,000).

Maul Industries LLP

A Limited Liability Partnership 50% owned and controlled by Mr Padley.

During the year the company provided for a fee for Artiste and repertoire services to Maul Industries LLP in in the amount of £59,500 (2023 : £0).

As at 29 February 2024 the amount due from the company to Maul Industries LLP was £59,500 (2023 : £0).

Anglo Management Music Ltd

A company in which Mr Blackburn is a director and shareholder.

During the year the company provided for a fee for management services to Anglo Management Music Ltd in in the amount of £25,500 (2023 : £21,000).

As at 29 February 2024 the amount due from the company to Anglo Management Music Ltd was £25,500 (2023 : £27,000).