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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
Page
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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
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GROOVE BOUND RECORDS LIMITED Statement of financial position as at 30 September 2024
2024 
2023 
Notes
£ 
£ 
Current assets
Debtors
1 
1 
Creditors: amounts falling due within one year
(21,247)
(15,238)
Net current liabilities
(21,246)
(15,237)
Net liabilities
(21,246)
(15,237)
Capital and reserves
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
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GROOVE BOUND RECORDS LIMITED Notes to the Accounts for the year ended 30 September 2024
1
Statutory information
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.
3
Accounting policies
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.
Going concern
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
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.
Presentation currency
The accounts are presented in £ sterling.
4
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
1 
1 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
1,436 
912 
Other creditors
10,750 
10,138 
Loans from directors
9,061 
4,188 
21,247 
15,238 
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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).
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