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Registration number: 09672298

RG Sanles Acoustics Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 5 July 2023

 

RG Sanles Acoustics Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

RG Sanles Acoustics Limited

Company Information

Director

R A G Sanles

Registered office

Beech Lee
34 Park Road
Southborough
Tunbridge Wells
Kent
TN4 0NX

Accountants

Manningtons
7 Wellington Square
Hastings
East Sussex
TN34 1PD

 

RG Sanles Acoustics Limited

(Registration number: 09672298)
Balance Sheet as at 5 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

762

953

Current assets

 

Debtors

5

32,139

35,650

Cash at bank and in hand

 

6,924

-

 

39,063

35,650

Creditors: Amounts falling due within one year

6

(43,319)

(41,557)

Net current liabilities

 

(4,256)

(5,907)

Total assets less current liabilities

 

(3,494)

(4,954)

Provisions for liabilities

(181)

(181)

Net liabilities

 

(3,675)

(5,135)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(3,676)

(5,136)

Shareholders' deficit

 

(3,675)

(5,135)

For the financial year ending 5 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 6 March 2024
 

.........................................
R A G Sanles
Director

 

RG Sanles Acoustics Limited

Notes to the Financial Statements for the Year Ended 5 July 2023

1

General information

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

The address of its registered office is:
Beech Lee
34 Park Road
Southborough
Tunbridge Wells
Kent
TN4 0NX

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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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.

 

RG Sanles Acoustics Limited

Notes to the Financial Statements for the Year Ended 5 July 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Fixtures, fittings and equipment

20% reducing balance

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 at the transaction price.

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 at the transaction price.

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.

 

RG Sanles Acoustics Limited

Notes to the Financial Statements for the Year Ended 5 July 2023

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

RG Sanles Acoustics Limited

Notes to the Financial Statements for the Year Ended 5 July 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 6 July 2022

3,156

3,156

At 5 July 2023

3,156

3,156

Depreciation

At 6 July 2022

2,203

2,203

Charge for the year

191

191

At 5 July 2023

2,394

2,394

Carrying amount

At 5 July 2023

762

762

At 5 July 2022

953

953

5

Debtors

2023
£

2022
£

Director loan account

32,139

35,650

32,139

35,650

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

7

215

3,712

Trade creditors

 

840

840

Taxation and social security

 

26,164

18,980

Accruals and deferred income

 

5,553

6,337

Other creditors

 

10,547

11,688

 

43,319

41,557

 

RG Sanles Acoustics Limited

Notes to the Financial Statements for the Year Ended 5 July 2023

7

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

-

2,770

Other borrowings

215

942

215

3,712

8

Related party transactions

Loans to related parties

2023

Other related parties
£

Total
£

At start of period

37,384

37,384

Repaid

(3,511)

(3,511)

At end of period

33,873

33,873

2022

Other related parties
£

Total
£

At start of period

27,474

27,474

Advanced

9,910

9,910

At end of period

37,384

37,384