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Company Registration No. 05420777 (England and Wales)
SWANSEA AUDIO LIMITED Unaudited accounts for the year ended 30 April 2023
SWANSEA AUDIO LIMITED Unaudited accounts Contents
Page
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SWANSEA AUDIO LIMITED Company Information for the year ended 30 April 2023
Director
Stephen Lewis
Secretary
Avril Manser
Company Number
05420777 (England and Wales)
Registered Office
78 - 80 ST. MARY STREET CARDIFF CF10 1FA WALES
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SWANSEA AUDIO LIMITED Statement of financial position as at 30 April 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
61,913 
70,175 
Tangible assets
677,670 
1,028,973 
739,583 
1,099,148 
Current assets
Inventories
85,750 
66,033 
Debtors
1,432,085 
606,763 
Cash at bank and in hand
80,145 
975,749 
1,597,980 
1,648,545 
Creditors: amounts falling due within one year
(1,511,395)
(1,893,808)
Net current assets/(liabilities)
86,585 
(245,263)
Total assets less current liabilities
826,168 
853,885 
Creditors: amounts falling due after more than one year
(371,795)
64,167 
Provisions for liabilities
Deferred tax
(64,867)
- 
Net assets
389,506 
918,052 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
389,505 
918,051 
Shareholders' funds
389,506 
918,052 
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 2 April 2024 and were signed on its behalf by
Stephen Lewis Director Company Registration No. 05420777
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SWANSEA AUDIO LIMITED Notes to the Accounts for the year ended 30 April 2023
1
Statutory information
SWANSEA AUDIO LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05420777. The registered office is 78 - 80 ST. MARY STREET, CARDIFF, CF10 1FA, WALES.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
5% Straight Line
Plant & machinery
25% Straight Line
Fixtures & fittings
25% Straight Line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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SWANSEA AUDIO LIMITED Notes to the Accounts for the year ended 30 April 2023
4
Intangible fixed assets
Other 
£ 
Cost
At 1 May 2022
82,623 
At 30 April 2023
82,623 
Amortisation
At 1 May 2022
12,448 
Charge for the year
8,262 
At 30 April 2023
20,710 
Net book value
At 30 April 2023
61,913 
At 30 April 2022
70,175 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 May 2022
129,191 
309,386 
9,109 
1,169,664 
1,617,350 
Additions
- 
2,359 
- 
- 
2,359 
At 30 April 2023
129,191 
311,745 
9,109 
1,169,664 
1,619,709 
Depreciation
At 1 May 2022
32,332 
254,743 
9,109 
292,193 
588,377 
Charge for the year
6,460 
54,786 
- 
292,416 
353,662 
At 30 April 2023
38,792 
309,529 
9,109 
584,609 
942,039 
Net book value
At 30 April 2023
90,399 
2,216 
- 
585,055 
677,670 
At 30 April 2022
96,859 
54,643 
- 
877,471 
1,028,973 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
159,861 
148,338 
Amounts due from group undertakings etc.
1,031,552 
285,547 
Accrued income and prepayments
37,873 
95,008 
Other debtors
202,799 
77,870 
1,432,085 
606,763 
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SWANSEA AUDIO LIMITED Notes to the Accounts for the year ended 30 April 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
29,967 
635,306 
VAT
133,853 
- 
Trade creditors
1,206,926 
872,914 
Taxes and social security
54,775 
267,574 
Other creditors
18,658 
115,354 
Loans from directors
67,216 
- 
Accruals
- 
2,660 
1,511,395 
1,893,808 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
371,795 
(64,167)
9
Average number of employees
During the year the average number of employees was 100 (2022: 102).
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