Registered number
09231657
Soundproofing Store Ltd
Filleted Accounts
30 September 2023
Soundproofing Store Ltd
Registered number: 09231657
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 - 1
Tangible assets 4 151,094 173,992
151,094 173,993
Current assets
Debtors 5 54,451 55,315
Cash at bank and in hand 51,464 72,992
105,915 128,307
Creditors: amounts falling due within one year 6 (48,050) (131,558)
Net current assets/(liabilities) 57,865 (3,251)
Total assets less current liabilities 208,959 170,742
Creditors: amounts falling due after more than one year 7 (47,040) (63,598)
Provisions for liabilities (28,058) (33,058)
Net assets 133,861 74,086
Capital and reserves
Called up share capital 52 52
Profit and loss account 133,809 74,034
Shareholders' funds 133,861 74,086
The director is 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 director acknowledges his 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.
Mr Ian Baker
Director
Approved by the board on 18 October 2023
Soundproofing Store Ltd
Notes to the Accounts
for the year ended 30 September 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).
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures & fittings 20% reducing balance
Plant and machinery 20% reducing balance
Motor vehicles 25% reducing balance
Office equipment 33% straight line
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 8 8
3 Intangible fixed assets £
Website:
Cost
At 1 October 2022 2,527
At 30 September 2023 2,527
Amortisation
At 1 October 2022 2,526
Provided during the year 1
At 30 September 2023 2,527
Net book value
At 30 September 2023 -
At 30 September 2022 1
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Office equipment Total
£ £ £ £ £
Cost
At 1 October 2022 5,771 4,814 238,930 27,660 277,175
Additions - - 26,063 4,640 30,703
At 30 September 2023 5,771 4,814 264,993 32,300 307,878
Depreciation
At 1 October 2022 2,825 3,668 72,699 23,991 103,183
Charge for the year 589 229 48,074 4,709 53,601
At 30 September 2023 3,414 3,897 120,773 28,700 156,784
Net book value
At 30 September 2023 2,357 917 144,220 3,600 151,094
At 30 September 2022 2,946 1,146 166,231 3,669 173,992
5 Debtors 2023 2022
£ £
Trade debtors 30,866 29,845
Amounts owed by group undertakings and undertakings in which the company has a participating interest 10,500 11,385
Other debtors 13,085 14,085
54,451 55,315
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 3,281 23,908
Taxation and social security costs 43,026 102,294
Other creditors 1,743 5,356
48,050 131,558
7 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 47,040 63,598
8 Controlling party
The controlling party during the year was Mr Ian Baker
9 Other information
Soundproofing Store Ltd is a private company limited by shares and incorporated in England. Its registered office is:
The Acorns
Fountains Road
Bishop Thornton
Harrogate
HG3 3BF
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