Audiotech_Services_Ltd_30_Apr_2023_companies_house_set_of

Audiotech Services Ltd

Report to the board of directors on the preparation of the unaudited statutory financial statements of Audiotech Services Ltd

Year ended

30 April 2023

As described on the statement of financial position, the Board of Directors of

Audiotech Services Ltd

are responsible for the preparation of the

financial statements

for the year ended

30 April 2023

, which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes.

You consider that the company is exempt from an audit under the Companies Act 2006.

In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

Accounting & Office Management Ltd

Angela Button MAAT

Garfield House Farm

Midhopestones

SHEFFIELD

South Yorkshire

S36 4GW

United Kingdom

Date:

4 October 2023

Audiotech Services Ltd

Statement of Financial Position

30 April 2023

		2023		2022
	Note	£		£
Fixed assets
Intangible assets	5	1,468		1,957
Tangible assets	6	403,970		420,265
		405,438		422,222
Current assets
Stocks		92,768		182,578
Debtors	7	54,894		170,777
Cash at bank and in hand		258,307		316,799
		405,969		670,154
Creditors: amounts falling due within one year	8	(50,399	)	(190,419	)
Net current assets		355,570		479,735
Total assets less current liabilities		761,008		901,957
Creditors: amounts falling due after more than one year	9	-		(73,566	)
Net assets		761,008		828,391
Capital and reserves
Called up share capital		375		375
Share premium		2,859		2,859
Profit and loss account		757,774		825,157
Shareholders funds		761,008		828,391

For the year ending

30 April 2023

, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These

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.

These

financial statements

were approved by the board of directors and authorised for issue on

4 October 2023

, and are signed on behalf of the board by:

Mr W D Ward

Director

Company registration number:

03541662

Audiotech Services Ltd

Notes to the Financial Statements

Year ended

30 April 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is

Unit 18

Wharncliffe Business Park

Carlton, Barnsley

S71 3HR

, United Kingdom.

2 Statement of compliance

These

financial statements

have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The

financial statements

have been prepared on the historical cost basis, as modified by the revaluation of certain assets.

The

financial statements

are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable on the rental and sale of equipment, net of discounts and Value Added Tax.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount.

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Development costs

25% Reducing Balance

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Land and buildings	Property Improve 5% Straight line
Plant and machinery	25% Reducing Balance
Office equipment	25% Reducing Balance
Motor vehicles	25% Reducing Balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was

(2022:

5.00

5 Intangible assets

	Other intangible assets
	£
Cost
At 1 May 2022 and 30 April 2023	6,750
Amortisation
At 1 May 2022	4,793
Charge	489
At 30 April 2023	5,282
Carrying amount
At 30 April 2023	1,468
At 30 April 2022	1,957

6 Tangible assets

	Land and buildings	Plant and machinery etc.	Total
	£	£	£
Cost
At 1 May 2022 and 30 April 2023	389,389	134,143	523,532
Depreciation
At 1 May 2022	29,313	73,954	103,267
Charge	1,188	15,107	16,295
At 30 April 2023	30,501	89,061	119,562
Carrying amount
At 30 April 2023	358,888	45,082	403,970
At 30 April 2022	360,076	60,189	420,265

7 Debtors

	2023	2022
	£	£
Trade debtors	32,160	118,046
Other debtors	22,734	52,731
	54,894	170,777

8 Creditors: amounts falling due within one year

	2023	2022
	£	£
Bank loans and overdrafts	-	14,736
Trade creditors	6,112	49,616
Taxation and social security	29,534	35,438
Other creditors	14,753	90,629
	50,399	190,419

9 Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Bank loans and overdrafts	-	47,058
Other creditors	-	26,508
	-	73,566

10 Guarantees and other financial commitments

A first legal charge over Unit 18, Wharncliffe Business Park, Carlton, Barnsley and it's associated assets. A debenture over the company's whole assets and Fixed and Floating charge over the undertaking.