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REGISTERED NUMBER: 02433137 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PROFESSIONAL LIGHTING AND SOUND
ASSOCIATION LIMITED

PROFESSIONAL LIGHTING AND SOUND
ASSOCIATION LIMITED (REGISTERED NUMBER: 02433137)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PROFESSIONAL LIGHTING AND SOUND
ASSOCIATION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: S S McGreevy
E Pagett
A Blaxill
P Heath
M Lloyd
M Surtees





REGISTERED OFFICE: Redoubt House
Edward Road
Eastbourne
East Sussex
BN23 8AS





REGISTERED NUMBER: 02433137 (England and Wales)





ACCOUNTANTS: Xynamo 5 Ltd
2 Upperton Gardens
Eastbourne
East Sussex
BN21 2AH

PROFESSIONAL LIGHTING AND SOUND
ASSOCIATION LIMITED (REGISTERED NUMBER: 02433137)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 576,110 597,140
Investments 5 2,000 2,001
578,110 599,141

CURRENT ASSETS
Debtors 6 74,499 171,098
Cash at bank 173,417 43,077
247,916 214,175
CREDITORS
Amounts falling due within one year 7 371,082 650,910
NET CURRENT LIABILITIES (123,166 ) (436,735 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

454,944

162,406

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 453,944 161,406
SHAREHOLDERS' FUNDS 454,944 162,406

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.

PROFESSIONAL LIGHTING AND SOUND
ASSOCIATION LIMITED (REGISTERED NUMBER: 02433137)

STATEMENT OF FINANCIAL POSITION - 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 11 March 2024 and were signed on its behalf by:





P Heath - Director


PROFESSIONAL LIGHTING AND SOUND
ASSOCIATION LIMITED (REGISTERED NUMBER: 02433137)

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

1. STATUTORY INFORMATION

Professional Lighting and Sound Association 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 comprises the invoiced value of goods and services supplied by the company, net of value added tax. It is stated exclusive of sales of fixed assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% on cost and 15% on reducing balance
Fixtures and fittings - 5% on cost

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction.

Leasing and hire purchase
Assets obtained under hire purchase and finance leases are capitalised as tangible fixed assets and depreciated over their useful lives. The interest element of the rental payment is charged to the profit and loss account over the period of the lease. Rentals under operating leases are charged to the profit and loss account on a straight line basis over the term of the lease.

PROFESSIONAL LIGHTING AND SOUND
ASSOCIATION LIMITED (REGISTERED NUMBER: 02433137)

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

2. ACCOUNTING POLICIES - continued

Pensions
The company makes defined pension contributions for some of its employees. All contributions are charged to the profit and loss account as incurred.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 January 2023 833,856 54,156 68,828 956,840
Additions - 2,288 - 2,288
At 31 December 2023 833,856 56,444 68,828 959,128
DEPRECIATION
At 1 January 2023 269,613 45,195 44,892 359,700
Charge for year 16,677 3,200 3,441 23,318
At 31 December 2023 286,290 48,395 48,333 383,018
NET BOOK VALUE
At 31 December 2023 547,566 8,049 20,495 576,110
At 31 December 2022 564,243 8,961 23,936 597,140

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023 2,001
Disposals (1 )
At 31 December 2023 2,000
NET BOOK VALUE
At 31 December 2023 2,000
At 31 December 2022 2,001

PROFESSIONAL LIGHTING AND SOUND
ASSOCIATION LIMITED (REGISTERED NUMBER: 02433137)

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

5. FIXED ASSET INVESTMENTS - continued

The company's investments at the balance sheet date in the Share Capital of the companies includes the following:

PLASA Media Limited
Country of incorporation: England
Nature of business: Publishers
Class of shares: Ordinary £1 shares : 100% holding

£
Aggregate capital and reserves 301,060
Profit for the year 135,510

PLASA Events Limited
Country of incorporation: England
Nature of business: Exhibition and Event organisers
Class of shares: Ordinary £1 shares : 100% holding

£
Aggregate capital and reserves 449,479
Profit for the year 797,565

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 21,021 24,211
Other debtors 24,759 1,621
Amounts due from group
undertakings 3,715 141,185
Prepayments and accrued income 25,004 4,081
74,499 171,098

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 10,449 25,256
Social security and other taxes 16,647 22,107
VAT 47,112 43,697
Other creditors 15,401 17,659
Amounts due to group
undertakings 228,399 529,663
Accruals and deferred income 53,074 12,528
371,082 650,910

PROFESSIONAL LIGHTING AND SOUND
ASSOCIATION LIMITED (REGISTERED NUMBER: 02433137)

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

8. RELATED PARTY DISCLOSURES

The company received £200,000 (2022 - £200,000) of management fees from its parent, the Professional Lighting and Sound Association (PLASA). The balance due from PLASA at 31 December 2023 was £3,715 (2022 - £10,566)

PLASA Limited owns the entire share capital of PLASA Media Ltd and PLASA Events Ltd, the company entered into the following transactions with its subsidiaries.

The company made sales and recharges of £64,777 (2022 - £67,585) to PLASA Media Limited, a company registered in England and Wales under common control of the Professional Lighting and Sound Association. At 31 December 2023 the company owed £132,453 to PLASA Media Ltd (2022 - £127,713). During the year a £0 dividend (2022 - £100,000) was voted by PLASA Media Ltd in favour of PLASA Limited.

The company made sales and recharges of £98,707 (2022 - £72,508) and purchases of £0 (2022 - £37,025) to/from PLASA Events Limited, a company registered in England and Wales and under common control of the Professional Lighting and Sound Association. At 31 December 2023 the company owed £95,945 to PLASA Events Limited (2022 - £401,950). During the year £750,000 (2022 - £250,000) dividends were voted by PLASA Events Ltd in favour of PLASA Limited.

At 31 December 2023, the company was owed £NIL (2022 £130,529) by PLASA Media Inc. PLASA Media Inc, a wholly owned subsidiary, was sold as part of a management buyout in March 2023.