Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31truefalsefalse2023-04-14The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2true 14801718 2023-04-13 14801718 2023-04-14 2024-03-31 14801718 2022-04-14 2023-04-13 14801718 2024-03-31 14801718 c:Director2 2023-04-14 2024-03-31 14801718 d:CurrentFinancialInstruments 2024-03-31 14801718 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 14801718 d:ShareCapital 2024-03-31 14801718 d:RetainedEarningsAccumulatedLosses 2024-03-31 14801718 c:OrdinaryShareClass1 2023-04-14 2024-03-31 14801718 c:OrdinaryShareClass1 2024-03-31 14801718 c:FRS102 2023-04-14 2024-03-31 14801718 c:AuditExempt-NoAccountantsReport 2023-04-14 2024-03-31 14801718 c:FullAccounts 2023-04-14 2024-03-31 14801718 c:PrivateLimitedCompanyLtd 2023-04-14 2024-03-31 14801718 2 2023-04-14 2024-03-31 14801718 6 2023-04-14 2024-03-31 14801718 e:PoundSterling 2023-04-14 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 14801718














KGJ MUSIC LTD

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2024

 
KGJ MUSIC LTD
REGISTERED NUMBER:14801718

BALANCE SHEET
AS AT 31 MARCH 2024

2024
Note
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
202,709

Current asset investments
 5 
2,085,512

Cash at bank
 6 
325,683

  
2,613,904

Creditors: amounts falling due within one year
 7 
(784,041)

Net current assets
  
 
 
1,829,863

Total assets less current liabilities
  
1,829,863

  

Net assets
  
1,829,863


Capital and reserves
  

Called up share capital 
 8 
1

Profit and loss account
  
1,829,862

  
1,829,863


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 period 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: 




M P Johnson
Director

Date: 23 December 2024

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
KGJ MUSIC LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

KGJ Music Ltd is a private company, limited by shares, registered in England and Wales, registration number 14801718. During the period, the company changed its registered office address from 3 Hook Close, Ampfield, Romsey, SO51 9DD to 56 Hiltingbury Road, Chandler's Ford, Eastleigh, SO53 5SS.
The company was incorporated on 14 April 2023 and commenced trading on the same date. 
The principal activity of the company is that of a music publishing company.
A written resolution was passed on 12 April 2024 to shorten the accounting reference date of the company from 30 April 2024 to 31 March 2024.

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 period 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 and cash equivalents 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

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 music publishing is recognised when it is probable the company will receive the rights to the consideration due under the contract.

 
2.4

Interest income

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

Page 2

 
KGJ MUSIC LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Taxation

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.

 
2.6

Valuation of investments

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.7

Debtors

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

 
2.8

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

 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, other creditors, loans with related parties and investments in wealth management scheme.

 
2.11

 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 period was 2.

Page 3

 
KGJ MUSIC LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Debtors

2024
£


Trade debtors
183,316

Other debtors
19,393

202,709



5.


Current asset investments

2024
£

Listed investments
2,085,512



6.


Cash

2024
£

Cash at bank
325,683



7.


Creditors: amounts falling due within one year

2024
£

Corporation tax
619,344

Other creditors
3,727

Accruals and deferred income
160,970

784,041



8.


Share capital

2024
£
Allotted, called up and fully paid


1 ordinary share of £1.00
1


On incorporation, the company issued 1 ordinary share at nominal value.

Page 4

 
KGJ MUSIC LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

9.


Transactions with the director

During the period, the company advanced £95,766 to a director. As at the period end, the company owed £3,727 to the director. This loan was unsecured, interest free and repayable on demand.
During the period, the company paid dividends of £60,000 to a director.
 
Page 5