Company Registration No. 12897328 (England and Wales)
GROOVE BOUND RECORDS LIMITED
Unaudited accounts
for the year ended 30 September 2024
GROOVE BOUND RECORDS LIMITED
Unaudited accounts
Contents
GROOVE BOUND RECORDS LIMITED
Company Information
for the year ended 30 September 2024
Directors
SIMON HOWARD PLATZ
JONATHAN BRIAN TESTER
Company Number
12897328 (England and Wales)
Registered Office
ROUNDHOUSE
212 REGENTS PARK ROAD
LONDON
NW1 8AW
UNITED KINGDOM
GROOVE BOUND RECORDS LIMITED
Statement of financial position
as at 30 September 2024
Creditors: amounts falling due within one year
(21,247)
(15,238)
Net current liabilities
(21,246)
(15,237)
Net liabilities
(21,246)
(15,237)
Called up share capital
1
1
Profit and loss account
(21,247)
(15,238)
Shareholders' funds
(21,246)
(15,237)
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 June 2025 and were signed on its behalf by
JONATHAN BRIAN TESTER
Director
Company Registration No. 12897328
GROOVE BOUND RECORDS LIMITED
Notes to the Accounts
for the year ended 30 September 2024
GROOVE BOUND RECORDS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12897328. The registered office is ROUNDHOUSE, 212 REGENTS PARK ROAD, LONDON, NW1 8AW, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The financial statements have been prepared on the assumption that the company is able to carry on business as a going concern. The company’s principal creditors are the shareholders of the company and the directors are confident that they will not call for payment until such time as the company is also able to meet its other obligations.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover and other revenue is recognised at fair value of the consideration received or receivable. Furthermore, revenue is recognised when it is probable that economic benefits will flow to the company and the amount of the revenue can be reliably measured.
Sales of recorded music on physical media is recognised when delivered. Revenue is reduced for returns and discounts given.
Royalty and similar income is recognised on a notified earnings basis. Credit is taken for royalty and similar income, arising from the music publishing, record production and related activities, which has been received or declared by users by the period end.
The accounts are presented in £ sterling.
Amounts falling due within one year
5
Creditors: amounts falling due within one year
2024
2023
Other creditors
10,750
10,138
Loans from directors
9,061
4,188
GROOVE BOUND RECORDS LIMITED
Notes to the Accounts
for the year ended 30 September 2024
6
Transactions with related parties
The sharehiolders have funded company expenditures. Mr Jonathan Tester, also a director, advanced £4,872 (2023: £2,088) and the balance due to him at the balance sheet date was £9,060 (£4,188). Bucks Music Group Limited has advanced a further £0 (2023: £68) and the balance due to the shareholder at the balance sheet date was £8,818 (2023: £8,818).
7
Average number of employees
During the year the average number of employees was 0 (2023: 0).