Registered number
07572940
SoundM Limited
Filleted Accounts
31 March 2023
SoundM Limited
Registered number: 07572940
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 1,005,010 1,005,010
Current assets
Debtors 4 1,079 -
Cash at bank and in hand 36,511 27,814
37,590 27,814
Creditors: amounts falling due within one year 5 (38,497) (57,507)
Net current liabilities (907) (29,693)
Net assets 1,004,103 975,317
Capital and reserves
Called up share capital 306 306
Profit and loss account 1,003,797 975,011
Shareholders' funds 1,004,103 975,317
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ms N J Cooper
Director
Approved by the board on 13 November 2023
SoundM Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Consolidation
In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 399 of the Companies Act 2006 not to prepare group accounts.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. 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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 April 2022 1,005,010
At 31 March 2023 1,005,010
The company owns 100% of the ordinary share capital of the subsidiary undertaking Sound Marketing (South-West) Ltd.
 
Sound Marketing (South-West) Ltd in turn holds 100% of the ordinary share capital in the subsidiary undertaking Embroidery UK Ltd. The companies are incorporated in England and Wales and the principal activity of all of the companies was marketing.
 
SoundM Ltd is the ultimate parent company of Embroidery UK Ltd.
Under the provision of section 399 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.
4 Debtors 2023 2022
£ £
Other debtors 1,079 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 8,497
Corporation tax 19,050 24,876
Other taxes and social security costs 6,074 5,761
Other creditors 13,373 18,373
38,497 57,507
6 Related party transactions
Dividends of £20,600 were paid to each of the directors during the period (2022: £15,600).
 
Sound Marketing (South-West) Limited:
 
During the year, SoundM Limited was paid management fees totalling £136,413 (2022: £132,500) by Sound Marketing (South-West) Limited, a subsidiary company.
 
At the year end, a creditor of £Nil (2022: £8,497) was outstanding for Sound Marketing (South-West) Limited and is included within amounts owed to group undertakings.
 
7 Controlling party
The company is controlled by the directors who each own 33% of the issued share capital.
8 Other information
SoundM Limited is a private company limited by shares and incorporated in England. Its registered office is:
Strattons House
Strattons Walk
Melksham
Wiltshire
SN12 6JL
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