Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09513743 2022-04-01 2023-03-31 09513743 2021-04-01 2022-03-31 09513743 2023-03-31 09513743 2022-03-31 09513743 c:Director1 2022-04-01 2023-03-31 09513743 c:Director2 2022-04-01 2023-03-31 09513743 d:FurnitureFittings 2022-04-01 2023-03-31 09513743 d:FurnitureFittings 2023-03-31 09513743 d:FurnitureFittings 2022-03-31 09513743 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09513743 d:ComputerEquipment 2022-04-01 2023-03-31 09513743 d:ComputerEquipment 2023-03-31 09513743 d:ComputerEquipment 2022-03-31 09513743 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09513743 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09513743 d:FreeholdInvestmentProperty 2022-04-01 2023-03-31 09513743 d:FreeholdInvestmentProperty 2023-03-31 09513743 d:FreeholdInvestmentProperty 2022-03-31 09513743 d:CurrentFinancialInstruments 2023-03-31 09513743 d:CurrentFinancialInstruments 2022-03-31 09513743 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09513743 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 09513743 d:ShareCapital 2023-03-31 09513743 d:ShareCapital 2022-03-31 09513743 d:RetainedEarningsAccumulatedLosses 2023-03-31 09513743 d:RetainedEarningsAccumulatedLosses 2022-03-31 09513743 c:FRS102 2022-04-01 2023-03-31 09513743 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 09513743 c:FullAccounts 2022-04-01 2023-03-31 09513743 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09513743 2 2022-04-01 2023-03-31 09513743 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 09513743









SOUND PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
SOUND PROPERTIES LIMITED
REGISTERED NUMBER: 09513743

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,664
4,884

Investments
 5 
100
100

Investment property
 6 
478,329
474,561

  
482,093
479,545

Current assets
  

Debtors: amounts falling due within one year
 7 
844,989
923,361

Cash at bank and in hand
 8 
139,730
417,232

  
984,719
1,340,593

Creditors: amounts falling due within one year
 9 
(1,623,821)
(1,907,114)

Net current liabilities
  
 
 
(639,102)
 
 
(566,521)

Total assets less current liabilities
  
(157,009)
(86,976)

  

Net liabilities
  
(157,009)
(86,976)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(157,109)
(87,076)

  
(157,009)
(86,976)


Page 1

 
SOUND PROPERTIES LIMITED
REGISTERED NUMBER: 09513743
    
STATEMENT OF FINANCIAL POSITION (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 statement of comprehensive income 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: 




K Datnow
A Datnow
Director
Director


Date: 29 September 2023
Date:29 September 2023

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
SOUND PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Sound Properties Limited is a private Company limited by shares and incorporated in England and Wales (registered number 09513743).
The registered office is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH. 
The principal activity of the Company during the period under review was that of property development. 

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducing balance method
Computer equipment
-
25%
reducing balance method

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.

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 3

 
SOUND PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

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.

 
2.8

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.

 
2.9

Interest income

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


3.


Employees

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

Page 4

 
SOUND PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2022
8,719
4,494
13,213



At 31 March 2023

8,719
4,494
13,213



Depreciation


At 1 April 2022
5,740
2,587
8,327


Charge for the year on owned assets
745
477
1,222



At 31 March 2023

6,485
3,064
9,549



Net book value



At 31 March 2023
2,234
1,430
3,664



At 31 March 2022
2,979
1,907
4,886

Page 5

 
SOUND PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2022
100



At 31 March 2023
100





6.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
474,561


Additions at cost
3,768



At 31 March 2023
478,329

The 2023 valuations were made by Directors, on an open market value for existing use basis.






Page 6

 
SOUND PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
791,929
870,925

Other debtors
53,060
52,436

844,989
923,361



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
139,730
417,232

139,730
417,232



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
1,621,321
1,902,814

Accruals and deferred income
2,500
4,300

1,623,821
1,907,114


 
Page 7