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REGISTERED NUMBER: 04957094 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

PLAYSOUND SERVICES LIMITED

PLAYSOUND SERVICES LIMITED (REGISTERED NUMBER: 04957094)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PLAYSOUND SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mrs J Collins
Mr B R Collins



REGISTERED OFFICE: 120 - 124 Towngate
Leyland
Lancashire
PR25 2LQ



REGISTERED NUMBER: 04957094 (England and Wales)



ACCOUNTANTS: RfM Preston Ltd
Chartered Accountants
120-124 Towngate
Leyland
Lancashire
PR25 2LQ



BANKERS: NatWest Bank Plc
5 Ormskirk Street
St Helens
Merseyside
WA10 1DR

PLAYSOUND SERVICES LIMITED (REGISTERED NUMBER: 04957094)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,259 10,518
Tangible assets 5 135,255 135,219
140,514 145,737

CURRENT ASSETS
Stocks 6 24,483 15,806
Debtors 7 354,943 333,100
Cash at bank and in hand 241,425 319,703
620,851 668,609
CREDITORS
Amounts falling due within one year 8 341,253 423,329
NET CURRENT ASSETS 279,598 245,280
TOTAL ASSETS LESS CURRENT
LIABILITIES

420,112

391,017

CREDITORS
Amounts falling due after more than one
year

9

(99,272

)

(110,523

)

PROVISIONS FOR LIABILITIES (12,713 ) (10,699 )
NET ASSETS 308,127 269,795

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 308,027 269,695
SHAREHOLDERS' FUNDS 308,127 269,795

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

PLAYSOUND SERVICES LIMITED (REGISTERED NUMBER: 04957094)

BALANCE SHEET - continued
31 MARCH 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:




Mrs J Collins - Director



Mr B R Collins - Director


PLAYSOUND SERVICES LIMITED (REGISTERED NUMBER: 04957094)

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

1. STATUTORY INFORMATION

Playsound Services Limited 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 stated net of VAT. Turnover from work done and goods supplied is recognised when the contract is completed or the goods have been delivered to the customer. Where a contract has been partially completed at the balance sheet date turnover represents the value of the work done to date based on a proportion of the total contract. Where payments are received in advance of work done or goods supplied, the amounts are recorded as deferred income and included as part of creditors due within one year.

GOODWILL
Goodwill is the difference between the fair value of consideration paid for an acquired entity and the aggregate of the fair value of that entity's identifiable assets and liabilities.

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

The amortisation method and rate used is 5% on cost.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Motor vehicles - 20% on cost
Office equipment - 20% on cost

STOCKS
Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

DEBTORS AND CREDITORS RECEIVABLE / PAYABLE WITHIN ONE YEAR
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.


PLAYSOUND SERVICES LIMITED (REGISTERED NUMBER: 04957094)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 18 (2022 - 16 ) .

PLAYSOUND SERVICES LIMITED (REGISTERED NUMBER: 04957094)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 105,180
AMORTISATION
At 1 April 2022 94,662
Amortisation for year 5,259
At 31 March 2023 99,921
NET BOOK VALUE
At 31 March 2023 5,259
At 31 March 2022 10,518

5. TANGIBLE FIXED ASSETS
Plant and Motor Office
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 50,737 198,252 17,291 266,280
Additions 2,632 49,193 3,123 54,948
Disposals - (48,170 ) - (48,170 )
At 31 March 2023 53,369 199,275 20,414 273,058
DEPRECIATION
At 1 April 2022 39,266 77,119 14,676 131,061
Charge for year 4,459 39,855 1,338 45,652
Eliminated on disposal - (38,910 ) - (38,910 )
At 31 March 2023 43,725 78,064 16,014 137,803
NET BOOK VALUE
At 31 March 2023 9,644 121,211 4,400 135,255
At 31 March 2022 11,471 121,133 2,615 135,219

PLAYSOUND SERVICES LIMITED (REGISTERED NUMBER: 04957094)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 151,252
Additions 49,193
Disposals (13,170 )
At 31 March 2023 187,275
DEPRECIATION
At 1 April 2022 37,918
Charge for year 37,455
Eliminated on disposal (7,902 )
At 31 March 2023 67,471
NET BOOK VALUE
At 31 March 2023 119,804
At 31 March 2022 113,334

6. STOCKS
2023 2022
£    £   
Stocks 15,600 5,900
Work-in-progress 8,883 9,906
24,483 15,806

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 198,802 214,854
Other debtors - 11,704
Directors' current accounts 151,999 105,522
Prepayments 4,142 1,020
354,943 333,100

PLAYSOUND SERVICES LIMITED (REGISTERED NUMBER: 04957094)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,703 12,948
Hire purchase contracts 31,578 25,875
Trade creditors 117,220 95,948
Corporation tax 34,006 50,143
Social security and other taxes 55,702 81,490
Other creditors 3,168 4,020
Accruals and deferred income 89,876 152,905
341,253 423,329

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 9,703 21,297
Bank loans - 2-5 years 12,944 12,810
Hire purchase contracts 76,625 76,416
99,272 110,523

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 32,350 47,055
Hire purchase contracts 108,203 102,291
140,553 149,346

Bank loans are secured by a fixed and floating charge over the assets of the company, the UK government and a personal guarantee by the directors.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
98 Ordinary £1 98 98
1 A Ordinary £1 1 1
1 B Ordinary £1 1 1
100 100

PLAYSOUND SERVICES LIMITED (REGISTERED NUMBER: 04957094)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

12. DIRECTORS ADVANCES, CREDITS AND GUARANTEES - INTEREST FREE

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mr B R Collins and Mrs J Collins
Balance outstanding at start of year 105,522 48,391
Amounts advanced 46,477 123,131
Amounts repaid - (66,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 151,999 105,522