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SOUNDS-WRITE LIMITED

Registered Number
04655753
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

SOUNDS-WRITE LIMITED
Company Information
for the year from 1 March 2022 to 28 February 2023

Directors

BEAVEN, Mary Carmen
WALKER, William John

Registered Address

Whiteleaf Business Centre
11 Little Balmer
Buckingham
MK18 1TF

Registered Number

04655753 (England and Wales)
SOUNDS-WRITE LIMITED
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets530,97234,022
30,97234,022
Current assets
Stocks651,62633,246
Debtors7417,490216,950
Current asset investments173,043173,043
Cash at bank and on hand925,615797,443
1,567,7741,220,682
Creditors amounts falling due within one year8(360,163)(278,241)
Net current assets (liabilities)1,207,611942,441
Total assets less current liabilities1,238,583976,463
Provisions for liabilities9(858)-
Net assets1,237,725976,463
Capital and reserves
Called up share capital22
Profit and loss account1,237,723976,461
Shareholders' funds1,237,725976,463
The financial statements were approved and authorised for issue by the Board of Directors on 2 October 2023, and are signed on its behalf by:
WALKER, William John
Director
Registered Company No. 04655753
SOUNDS-WRITE LIMITED
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Vehicles-4
Office Equipment253
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year116
5.Property, plant and equipment

Vehicles

Office Equipment

Total

£££
Cost or valuation
At 01 March 2231,85048,02279,872
Additions-12,49312,493
Disposals-(1,919)(1,919)
At 28 February 2331,85058,59690,446
Depreciation and impairment
At 01 March 227,29938,55145,850
Charge for year7,9637,41315,376
On disposals-(1,752)(1,752)
At 28 February 2315,26244,21259,474
Net book value
At 28 February 2316,58814,38430,972
At 28 February 2224,5519,47134,022
6.Stocks

2023

2022

££
Raw materials and consumables27,98833,246
Work in progress23,638-
Total51,62633,246
7.Debtors

2023

2022

££
Trade debtors / trade receivables158,632129,858
Other debtors101,72074,996
Prepayments and accrued income157,13812,096
Total417,490216,950
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables36,38823,917
Taxation and social security187,747190,626
Other creditors78,78514,305
Accrued liabilities and deferred income57,24349,393
Total360,163278,241
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
9.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)858-
Total858-