Autograph Sales Limited 01609258 false 2022-02-01 2023-01-31 2023-01-31 The principal activity of the company is that of the retail and installation of sound equipment and the provision of design and consultancy services to the sound industry until it ceased to trade on 1 May 2021. Digita Accounts Production Advanced 6.30.9574.0 true true true 01609258 2022-02-01 2023-01-31 01609258 2023-01-31 01609258 core:CurrentFinancialInstruments 2023-01-31 01609258 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 01609258 bus:SmallEntities 2022-02-01 2023-01-31 01609258 bus:Audited 2022-02-01 2023-01-31 01609258 bus:FullAccounts 2022-02-01 2023-01-31 01609258 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 01609258 bus:RegisteredOffice 2022-02-01 2023-01-31 01609258 bus:Director1 2022-02-01 2023-01-31 01609258 bus:Director2 2022-02-01 2023-01-31 01609258 bus:Director4 2022-02-01 2023-01-31 01609258 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 01609258 1 2022-02-01 2023-01-31 01609258 countries:EnglandWales 2022-02-01 2023-01-31 01609258 2021-02-01 2022-01-31 01609258 2022-01-31 01609258 core:CurrentFinancialInstruments 2022-01-31 01609258 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 iso4217:GBP xbrli:pure

Registration number: 01609258

Autograph Sales Limited

Financial Statements

for the Year Ended 31 January 2023

Brebners
Chartered Accountants & Statutory Auditor
130 Shaftesbury Avenue
London
W1D 5AR

 

Autograph Sales Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3 to 6

 

Autograph Sales Limited

Company Information

Directors

A W Bruce

T K Jardine

S L Arnold

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Auditor

Brebners
Chartered Accountants & Statutory Auditor
130 Shaftesbury Avenue
London
W1D 5AR

 

Autograph Sales Limited

Statement of Financial Position as at 31 January 2023

Note

2023
£

2022
£

Current assets

 

Debtors

5

334,717

334,717

Creditors: Amounts falling due within one year

6

(213,637)

(213,637)

Net assets

 

121,080

121,080

Capital and reserves

 

Called up share capital

2

2

Retained earnings

121,078

121,078

Shareholders' funds

 

121,080

121,080

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the Board on 25 October 2023 and signed on its behalf by:
 

.........................................

A W Bruce

Director

.........................................

S L Arnold

Director

Company registration number: 01609258

 

Autograph Sales Limited

Notes to the Financial Statements for the Year Ended 31 January 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company was that of the retail and installation of sound equipment and the provision of design and consultancy services to the sound industry until it ceased to trade on 1 May 2021.

2

Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 27 October 2023 was John Chamberlain, who signed for and on behalf of Brebners.

3

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company had net assets at the balance sheet date of £121,080.

Having made the decision in early 2020 to merge the Autograph Sales part of the group into Autograph Sound, on 1 May 2021 the trade, assets and liabilities of Autograph Sales Limited were hived across into Autograph Sound Recording Limited and, as a result, Autograph Sales Limited ceased to trade from that date.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts. If the going concern basis were not appropriate, no additional liabilities would arise.

 

Autograph Sales Limited

Notes to the Financial Statements for the Year Ended 31 January 2023

Revenue recognition

The company generate turnover from the sale of sound equipment and provision of design and consultancy services.

Turnover comprises the fair value of the consideration received or receivable for the sale of sound equipment and provision of design and consultancy services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue from the sale of sound equipment, normally on delivery of goods when:
The significant risks and rewards of ownership of the sound equipment have transferred to the buyer;
The amount of revenue can be reliably measured;
and it is probable that future economic benefits will flow to the entity.

The company recognises revenue from the rendering of design and consultancy services in the period to which the services relate.

Government grants

Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met, usually on submission of a valid claim for payment.

Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Autograph Sales Limited

Notes to the Financial Statements for the Year Ended 31 January 2023

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

 Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

 

Autograph Sales Limited

Notes to the Financial Statements for the Year Ended 31 January 2023

4

Staff numbers

The average number of persons employed by the company during the year, was 0 (2022 - 1).

5

Debtors

2023
£

2022
£

Amounts owed by group undertakings

334,717

304,258

Other debtors

-

30,459

334,717

334,717

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Amounts owed to group undertakings

7

213,637

213,637

7

Related party transactions

In accordance with FRS 102 paragraph 1AC.35, exemption is taken not to disclose transactions in the year between wholly owned group undertakings.

8

Parent and ultimate parent undertaking

The company's immediate parent is Autograph (Holdings) Limited, incorporated in England and Wales.

  The parent of the largest and smallest group in which these financial statements are consolidated is Autograph (Holdings) Limited, incorporated in England and Wales.

These financial statements are available upon request from 130 Shaftesbury Avenue, 2nd Floor, London, W1D 5EU.