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REGISTERED NUMBER: 09721732 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2023

for

AUTOSOUND (HOLDINGS) LTD

AUTOSOUND (HOLDINGS) LTD (REGISTERED NUMBER: 09721732)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AUTOSOUND (HOLDINGS) LTD

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr K Ellis
Mr L D Fergus
Mrs D J Ellis





SECRETARY: Mr K Ellis





REGISTERED OFFICE: Unit 4
Lister Street
Dudley Hill
Bradford
West Yorkshire
BD4 9PQ





REGISTERED NUMBER: 09721732 (England and Wales)





ACCOUNTANTS: BK Plus Limited
52 St Johns Lane
Halifax
West Yorkshire
HX1 2BW

AUTOSOUND (HOLDINGS) LTD (REGISTERED NUMBER: 09721732)

Balance Sheet
31 December 2023

31.12.23 31.12.22
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 470,400 480,200
Investments 5 2,500,000 2,500,000
Investment property 6 300,000 300,000
3,270,400 3,280,200

CURRENT ASSETS
Debtors 7 80,000 14,170
Cash at bank 65,709 87,727
145,709 101,897
CREDITORS
Amounts falling due within one year 8 120,801 94,547
NET CURRENT ASSETS 24,908 7,350
TOTAL ASSETS LESS CURRENT LIABILITIES 3,295,308 3,287,550

PROVISIONS FOR LIABILITIES 83,155 63,198
NET ASSETS 3,212,153 3,224,352

CAPITAL AND RESERVES
Called up share capital 2,500,000 2,500,000
Revaluation reserve 9 150,695 167,674
Retained earnings 9 561,458 556,678
SHAREHOLDERS' FUNDS 3,212,153 3,224,352

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

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

AUTOSOUND (HOLDINGS) LTD (REGISTERED NUMBER: 09721732)

Balance Sheet - continued
31 December 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 20 March 2024 and were signed on its behalf by:




Mr K Ellis - Director



Mr L D Fergus - Director


AUTOSOUND (HOLDINGS) LTD (REGISTERED NUMBER: 09721732)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Autosound (Holdings) Ltd 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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

In total three properties are held by Autosound (Holdings) Ltd of which one property is let to a third party tenant and two properties are used by its subsidiary company in the purpose of its trade rent free.
There has been a change in accounting policy at 31 December 2023 and the two properties used by the trading subsidiary have been reclassified as tangible fixed assets which has resulted in a restatement of the comparative figures and a prior year adjustment.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

AUTOSOUND (HOLDINGS) LTD (REGISTERED NUMBER: 09721732)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 January 2023
and 31 December 2023 490,000
DEPRECIATION
At 1 January 2023 9,800
Charge for year 9,800
At 31 December 2023 19,600
NET BOOK VALUE
At 31 December 2023 470,400
At 31 December 2022 480,200

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 2,500,000
NET BOOK VALUE
At 31 December 2023 2,500,000
At 31 December 2022 2,500,000

Cost or valuation at 31 December 2023 is represented by:

Shares in
group
undertakings
£   
Valuation in 2017 2,500,000

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 300,000
NET BOOK VALUE
At 31 December 2023 300,000
At 31 December 2022 300,000

AUTOSOUND (HOLDINGS) LTD (REGISTERED NUMBER: 09721732)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. INVESTMENT PROPERTY - continued

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2016 (26,212 )
Valuation in 2020 146,585
Cost 179,627
300,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
as restated
£    £   
Other debtors 80,000 14,170

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
as restated
£    £   
Amounts owed to group undertakings 53,683 72,651
Taxation and social security 4,044 2,580
Other creditors 63,074 19,316
120,801 94,547

9. RESERVES

The retained earnings includes £90,280 of undistributable reserves relating to the revaluation of the investment properties held at 31/12/23.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.12.23 31.12.22
as restated
£    £   
Mr K Ellis
Balance outstanding at start of year 11,889 (17,312 )
Amounts advanced 53,436 98,296
Amounts repaid (80,000 ) (69,095 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (14,675 ) 11,889

AUTOSOUND (HOLDINGS) LTD (REGISTERED NUMBER: 09721732)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr L D Fergus
Balance outstanding at start of year 2,282 5,681
Amounts advanced 33,426 37,051
Amounts repaid (38,000 ) (40,450 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (2,292 ) 2,282

Mrs D J Ellis
Balance outstanding at start of year (5,182 ) (22,013 )
Amounts advanced 69,774 67,531
Amounts repaid (89,953 ) (50,700 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (25,361 ) (5,182 )