IRIS Accounts Production v23.3.1.45 03005533 director 1.4.22 31.3.23 31.3.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure030055332022-03-31030055332023-03-31030055332022-04-012023-03-31030055332021-03-31030055332021-04-012022-03-31030055332022-03-3103005533ns16:EnglandWales2022-04-012023-03-3103005533ns15:PoundSterling2022-04-012023-03-3103005533ns11:Director12022-04-012023-03-3103005533ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3103005533ns11:SmallEntities2022-04-012023-03-3103005533ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3103005533ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3103005533ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3103005533ns11:FullAccounts2022-04-012023-03-3103005533ns11:CompanySecretary12022-04-012023-03-3103005533ns11:RegisteredOffice2022-04-012023-03-3103005533ns6:CurrentFinancialInstruments2023-03-3103005533ns6:CurrentFinancialInstruments2022-03-3103005533ns6:Non-currentFinancialInstruments2023-03-3103005533ns6:Non-currentFinancialInstruments2022-03-3103005533ns6:ShareCapital2023-03-3103005533ns6:ShareCapital2022-03-3103005533ns6:RetainedEarningsAccumulatedLosses2023-03-3103005533ns6:RetainedEarningsAccumulatedLosses2022-03-3103005533ns6:LongLeaseholdAssetsns6:LandBuildings2022-04-012023-03-3103005533ns6:PlantMachinery2022-04-012023-03-3103005533ns6:FurnitureFittings2022-04-012023-03-3103005533ns6:LongLeaseholdAssetsns6:LandBuildings2022-03-3103005533ns6:PlantMachinery2022-03-3103005533ns6:FurnitureFittings2022-03-3103005533ns6:MotorVehicles2022-03-3103005533ns6:MotorVehicles2022-04-012023-03-3103005533ns6:LongLeaseholdAssetsns6:LandBuildings2023-03-3103005533ns6:PlantMachinery2023-03-3103005533ns6:FurnitureFittings2023-03-3103005533ns6:MotorVehicles2023-03-3103005533ns6:LongLeaseholdAssetsns6:LandBuildings2022-03-3103005533ns6:PlantMachinery2022-03-3103005533ns6:FurnitureFittings2022-03-3103005533ns6:MotorVehicles2022-03-3103005533ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2022-03-3103005533ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2022-03-3103005533ns6:LeasedAssetsHeldAsLessee2022-03-3103005533ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2022-04-012023-03-3103005533ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2022-04-012023-03-3103005533ns6:LeasedAssetsHeldAsLessee2022-04-012023-03-3103005533ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2023-03-3103005533ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2023-03-3103005533ns6:LeasedAssetsHeldAsLessee2023-03-3103005533ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2022-03-3103005533ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2022-03-3103005533ns6:LeasedAssetsHeldAsLessee2022-03-3103005533ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3103005533ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3103005533ns6:Secured2023-03-3103005533ns6:Secured2022-03-31
REGISTERED NUMBER: 03005533 (England and Wales)















SOUND ENGINEERING LIMITED
SPECIALIST ENGINEERS AND CONSULTANTS

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






SOUND ENGINEERING LIMITED (REGISTERED NUMBER: 03005533)
SPECIALIST ENGINEERS AND CONSULTANTS






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


SOUND ENGINEERING LIMITED
SPECIALIST ENGINEERS AND CONSULTANTS

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: L C Day





SECRETARY: Mrs S J Day





REGISTERED OFFICE: Unit 4
Vanguard Industrial Estate
Henwood
Ashford
Kent
TN24 8DH





REGISTERED NUMBER: 03005533 (England and Wales)





ACCOUNTANTS: Spurling Cannon
Chartered Certified Accountants
424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ

SOUND ENGINEERING LIMITED (REGISTERED NUMBER: 03005533)
SPECIALIST ENGINEERS AND CONSULTANTS

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 254,590 294,490

CURRENT ASSETS
Stocks 5 114,832 143,204
Debtors 6 850,270 621,854
Cash at bank and in hand 7,591 32,182
972,693 797,240
CREDITORS
Amounts falling due within one year 7 (614,595 ) (513,725 )
NET CURRENT ASSETS 358,098 283,515
TOTAL ASSETS LESS CURRENT
LIABILITIES

612,688

578,005

CREDITORS
Amounts falling due after more than one
year

8

(147,363

)

(212,060

)

PROVISIONS FOR LIABILITIES (40,313 ) (23,100 )
NET ASSETS 425,012 342,845

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 424,912 342,745
SHAREHOLDERS' FUNDS 425,012 342,845

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 director acknowledges his 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 ENGINEERING LIMITED (REGISTERED NUMBER: 03005533)
SPECIALIST ENGINEERS AND CONSULTANTS

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 November 2023 and were signed by:





L C Day - Director


SOUND ENGINEERING LIMITED (REGISTERED NUMBER: 03005533)
SPECIALIST ENGINEERS AND CONSULTANTS

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

1. STATUTORY INFORMATION

Sound Engineering 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 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Leasehold costs - 10% on cost
Plant and machinery - 15% on reducing balance
Fixture & Fittings - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

SOUND ENGINEERING LIMITED (REGISTERED NUMBER: 03005533)
SPECIALIST ENGINEERS AND CONSULTANTS

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

2. ACCOUNTING POLICIES - continued

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 23 (2022 - 22 ) .

4. TANGIBLE FIXED ASSETS
Leasehold Plant and Fixture & Motor
costs machinery Fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2022 14,466 456,740 30,751 240,389 742,346
Additions - 34,725 3,153 29,156 67,034
Disposals - - (1,425 ) (74,999 ) (76,424 )
At 31 March 2023 14,466 491,465 32,479 194,546 732,956
DEPRECIATION
At 1 April 2022 14,465 367,208 22,364 43,819 447,856
Charge for year - 14,268 2,981 30,604 47,853
Eliminated on disposal - - (1,425 ) (15,918 ) (17,343 )
At 31 March 2023 14,465 381,476 23,920 58,505 478,366
NET BOOK VALUE
At 31 March 2023 1 109,989 8,559 136,041 254,590
At 31 March 2022 1 89,532 8,387 196,570 294,490

SOUND ENGINEERING LIMITED (REGISTERED NUMBER: 03005533)
SPECIALIST ENGINEERS AND CONSULTANTS

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022 33,566 219,989 253,555
Additions - 29,156 29,156
Disposals - (74,999 ) (74,999 )
At 31 March 2023 33,566 174,146 207,712
DEPRECIATION
At 1 April 2022 5,035 25,455 30,490
Charge for year 4,280 30,094 34,374
Eliminated on disposal - (15,918 ) (15,918 )
At 31 March 2023 9,315 39,631 48,946
NET BOOK VALUE
At 31 March 2023 24,251 134,515 158,766
At 31 March 2022 28,531 194,534 223,065

5. STOCKS
2023 2022
£    £   
Raw materials 114,832 124,704
Work-in-progress - 18,500
114,832 143,204

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 810,672 582,736
Other debtors 39,598 39,118
850,270 621,854

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 125,570 14,389
Hire purchase contracts 23,492 27,935
Trade creditors 325,290 346,570
Taxation and social security 92,863 68,513
Other creditors 47,380 56,318
614,595 513,725

SOUND ENGINEERING LIMITED (REGISTERED NUMBER: 03005533)
SPECIALIST ENGINEERS AND CONSULTANTS

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 24,963 35,270
Hire purchase contracts 122,400 176,790
147,363 212,060

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 145,892 204,725
Bank loan 115,263 5,412
261,155 210,137

The bank loan is secured by a fixed and floating charge over the assets of the company.

10. LEASE

The company is occupying premises on a lease which expires on 31 December 2026. The rent is £125,000 per annum.