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Registration number: 04225884

Arranpaul Audio Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Arranpaul Audio Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Arranpaul Audio Limited

Company Information

Directors

Mr AL Culpan

Mr PM Rogerson

Mr Thomas Beattie

Registered office

15 Olympic Court
Whitehills Business Park
Blackpool
Lancashire
FY4 5GU

Accountants

Horne Brooke Shenton
Chartered Accountants
15 Olympic Court Boardmans Way
Whitehills Business Park
Blackpool
FY4 5GU

 

Arranpaul Audio Limited

(Registration number: 04225884)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed Assets

 

Tangible Assets

4

157,628

100,789

Current assets

 

Debtors

5

93,631

87,152

Cash at bank and in hand

 

148,335

153,423

 

241,966

240,575

Creditors: Amounts falling due within one year

6

(85,268)

(94,217)

Net current assets

 

156,698

146,358

Total assets less current liabilities

 

314,326

247,147

Creditors: Amounts falling due after more than one year

6

(302,890)

(244,249)

Net assets

 

11,436

2,898

Capital and Reserves

 

Called up share capital

7

100

100

Retained Earnings

11,336

2,798

Shareholders' funds

 

11,436

2,898

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 January 2024 and signed on its behalf by:
 

.........................................
Mr PM Rogerson
Director

 

Arranpaul Audio Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
15 Olympic Court
Whitehills Business Park
Blackpool
Lancashire
FY4 5GU
England

The principal place of business is:
Unit 3
Wyrefields
Poulton Business Park
Poulton Le Fylde
Lancashire
FY6 8JX
England

These financial statements were authorised for issue by the Board on 30 January 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Arranpaul Audio Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

25% straight line basis

Fixtures and Fittings

25% reducing balance method

Motor vehicles

25% reducing balance method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Arranpaul Audio Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2022 - 7).

 

Arranpaul Audio Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible Assets

Fixtures and fittings
£

Equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

24,042

333,519

68,045

425,606

Additions

2,110

113,858

13,750

129,718

At 30 June 2023

26,152

447,377

81,795

555,324

Depreciation

At 1 July 2022

12,232

272,169

40,416

324,817

Charge for the year

3,480

59,054

10,345

72,879

At 30 June 2023

15,712

331,223

50,761

397,696

Carrying amount

At 30 June 2023

10,440

116,154

31,034

157,628

At 30 June 2022

11,810

61,350

27,629

100,789

5

Debtors

Current

2023
£

2022
£

Trade Debtors

85,911

70,935

Prepayments

7,133

7,918

Other debtors

587

8,299

 

93,631

87,152

 

Arranpaul Audio Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

3,981

4,899

Trade Creditors

 

29,525

36,666

Taxation and social security

 

46,365

50,958

Other creditors

 

5,397

1,694

 

85,268

94,217

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

302,890

244,249

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

£1 Ordinary of £1 each

100

100

100

100

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

39,319

44,483

Other borrowings

263,571

199,766

302,890

244,249

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

3,981

4,899

 

Arranpaul Audio Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

9

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £800.00 (2022 - £620.00) per each £1 Ordinary

 

80,000

 

62,000

         

10

Related party transactions

Dividends paid to directors

   

2023
£

 

2022
£

Mr PM Rogerson

       

 

52,000

 

40,300

         

Mr AL Culpan

       

 

28,000

 

21,700