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REGISTERED NUMBER: 01560873 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Sound Reduction Systems Ltd

Sound Reduction Systems Ltd (Registered number: 01560873)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sound Reduction Systems Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTORS: J Donnelly
A R Docherty
R D Sherwood





SECRETARY: A R Docherty





REGISTERED OFFICE: Adam Street
Off Lever Street
Bolton
Lancashire
BL3 2AP





REGISTERED NUMBER: 01560873 (England and Wales)





ACCOUNTANTS: Higsons Limited
Accountants
Offices 1 and 2
1A King Street
Farnworth
Bolton
Greater Manchester
BL4 7AB

Sound Reduction Systems Ltd (Registered number: 01560873)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,225 21,245

CURRENT ASSETS
Stocks 419,880 335,820
Debtors 5 270,501 269,414
Cash at bank and in hand 201,147 353,269
891,528 958,503
CREDITORS
Amounts falling due within one year 6 300,707 399,265
NET CURRENT ASSETS 590,821 559,238
TOTAL ASSETS LESS CURRENT
LIABILITIES

610,046

580,483

PROVISIONS FOR LIABILITIES 7 3,962 3,254
NET ASSETS 606,084 577,229

CAPITAL AND RESERVES
Called up share capital 3,750 3,750
Capital redemption reserve 5,750 5,750
Retained earnings 596,584 567,729
SHAREHOLDERS' FUNDS 606,084 577,229

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Sound Reduction Systems Ltd (Registered number: 01560873)

Balance Sheet - continued
31 May 2023


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2023 and were signed on its behalf by:





A R Docherty - Director


Sound Reduction Systems Ltd (Registered number: 01560873)

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

1. STATUTORY INFORMATION

Sound Reduction Systems Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance and 25% on reducing balance

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation. At the balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered impairment losses, no such losses were identified.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

Sound Reduction Systems Ltd (Registered number: 01560873)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 522,864
Additions 4,634
At 31 May 2023 527,498
DEPRECIATION
At 1 June 2022 501,619
Charge for year 6,654
At 31 May 2023 508,273
NET BOOK VALUE
At 31 May 2023 19,225
At 31 May 2022 21,245

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 217,994 228,035
Other debtors 52,507 41,379
270,501 269,414

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors 112,839 92,329
Amounts owed to group undertakings 80,749 164,677
Taxation and social security 51,646 100,435
Other creditors 55,473 41,824
300,707 399,265

7. PROVISIONS FOR LIABILITIES
31.5.23 31.5.22
£    £   
Deferred tax
Accelerated capital allowances 3,962 3,254

Deferred
tax
£   
Balance at 1 June 2022 3,254
Charge to Income Statement during year 708
Balance at 31 May 2023 3,962

Sound Reduction Systems Ltd (Registered number: 01560873)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

8. OTHER FINANCIAL COMMITMENTS

In September 2013 the company entered into two 10 year leases in respect of the premises from which it operates. At the year end the outstanding commitments on these operating leases was £11,112 (2022 - £102,257).

9. RELATED PARTY DISCLOSURES

The parent company, The Sound Investment Company Ltd, levied management charges of £225,000 in the year ended 31 May 2023 (2022 - £225,000). In addition, dividends of £35,000 (2022 - £27,000) were paid to the parent company.

At the year end the company owed £80,749 to the parent company (2022 - £164,677). The loans which are interest free and repayable on demand are included in the figure of Creditors.

During the period a commercial rent of £32,024 (2022 - £31,243) was paid to Mr J Donnelly a director, who owns part of the land and buildings from which the company operates.

10. ULTIMATE CONTROLLING PARTY

The controlling party is The Sound Investment Company Ltd.