Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31false2022-04-01No description of principal activity66truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC583959 2022-04-01 2023-03-31 SC583959 2023-03-31 SC583959 2021-04-01 2022-03-31 SC583959 2022-03-31 SC583959 2021-04-01 SC583959 c:Director5 2022-04-01 2023-03-31 SC583959 d:CurrentFinancialInstruments 2023-03-31 SC583959 d:CurrentFinancialInstruments 2022-03-31 SC583959 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC583959 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 SC583959 d:ShareCapital 2022-04-01 2023-03-31 SC583959 d:ShareCapital 2023-03-31 SC583959 d:ShareCapital 2021-04-01 2022-03-31 SC583959 d:ShareCapital 2022-03-31 SC583959 d:ShareCapital 2021-04-01 SC583959 d:SharePremium 2022-04-01 2023-03-31 SC583959 d:SharePremium 2023-03-31 SC583959 d:SharePremium 2021-04-01 2022-03-31 SC583959 d:SharePremium 2022-03-31 SC583959 d:SharePremium 2021-04-01 SC583959 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 SC583959 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC583959 d:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 SC583959 d:RetainedEarningsAccumulatedLosses 2022-03-31 SC583959 d:RetainedEarningsAccumulatedLosses 2021-04-01 SC583959 c:OrdinaryShareClass1 2022-04-01 2023-03-31 SC583959 c:OrdinaryShareClass1 2023-03-31 SC583959 c:OrdinaryShareClass1 2022-03-31 SC583959 c:FRS102 2022-04-01 2023-03-31 SC583959 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 SC583959 c:FullAccounts 2022-04-01 2023-03-31 SC583959 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC583959 4 2022-04-01 2023-03-31 SC583959 6 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Company Registration Number SC583959























FYNE AUDIO SYSTEMS AND TECHNOLOGY LIMITED





UNAUDITED
FINANCIAL STATEMENTS





 31 MARCH 2023























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FYNE AUDIO SYSTEMS AND TECHNOLOGY LIMITED
REGISTERED NUMBER: SC583959

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
  
98,561
98,561

  
98,561
98,561

Current assets
  

Debtors
  
1,394,576
1,182,439

Cash at bank and in hand
  
9
-

  
1,394,585
1,182,439

Creditors: amounts falling due within one year
  
(53,318)
(53,243)

Net current assets
  
 
 
1,341,267
 
 
1,129,196

Total assets less current liabilities
  
1,439,828
1,227,757

  

Net assets
  
1,439,828
1,227,757

Page 1

 
FYNE AUDIO SYSTEMS AND TECHNOLOGY LIMITED
REGISTERED NUMBER: SC583959

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Capital and reserves
  

Called up share capital 
  
94,885
91,710

Share premium account
  
1,351,516
1,142,353

Profit and loss account
  
(6,573)
(6,306)

  
1,439,828
1,227,757


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 statement of income and retained earnings 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: 




................................................
Andrzej Michael Sosna
Director
Date: 5 October 2023

The notes on pages 5 to 7 form part of these financial statements.

Page 2

 
FYNE AUDIO SYSTEMS AND TECHNOLOGY LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2023


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 April 2022
91,710
1,142,353
(6,306)
1,227,757


Comprehensive income for the period

Loss for the period

-
-
(267)
(267)


Other comprehensive income for the period
-
-
-
-


Total comprehensive income for the period
-
-
(267)
(267)


Contributions by and distributions to owners

Shares issued during the period
4,827
209,163
-
213,990

Shares cancelled during the period
(1,652)
-
-
(1,652)


Total transactions with owners
3,175
209,163
-
212,338


At 31 March 2023
94,885
1,351,516
(6,573)
1,439,828


The notes on pages 5 to 7 form part of these financial statements.

Page 3

 
FYNE AUDIO SYSTEMS AND TECHNOLOGY LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2022


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 April 2021
91,710
1,142,353
(4,463)
1,229,600


Comprehensive income for the year

Loss for the year

-
-
(1,843)
(1,843)


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
(1,843)
(1,843)


Total transactions with owners
-
-
-
-


At 31 March 2022
91,710
1,142,353
(6,306)
1,227,757


The notes on pages 5 to 7 form part of these financial statements.

Page 4

 
FYNE AUDIO SYSTEMS AND TECHNOLOGY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.


General information

Fyne Audio Systems And Technology Limited is a private company, limited by shares, registered in Scotland. The address of the registered office is First Floor, 24 Blythswood Square, Glasgow, Scotland, G2 4BG. The address of the principal place of business is Suite 24, Grovewood Business Park, Strathclyde Business Park, Bellshill, Lanarkshire, ML4 3NQ. The company's registered number is SC583959.

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

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.4

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.

 
2.5

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.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the period was 6 (2022 - 6).

Page 5

 
FYNE AUDIO SYSTEMS AND TECHNOLOGY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2022
98,561



At 31 March 2023
98,561





5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
51,668
51,668

Accruals and deferred income
1,650
1,575

53,318
53,243


Page 6

 
FYNE AUDIO SYSTEMS AND TECHNOLOGY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

6.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



94,885 (2022 - 91,710) Ordinary shares of £1.00 each
94,885
91,710


During the year 1,652 ordinary shares were cancelled/extinguished, and written off to the Profit and Loss. 
During the year 4,827 ordinary shares with a nominal value of £1 per share were issued at a premium of £50.79 per share. The share premium reserve contains the premium arising on the issue of equity shares, net of issue expenses.


7.


Related party transactions

As at 31 March 2023, a subsidiary company owed £1,394,577 (2022: £1,182,439) to Fyne Audio Systems And Technology Limited.


Page 7