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REGISTERED NUMBER: 06465579 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

FOR

READSPEAKER LIMITED

READSPEAKER LIMITED (REGISTERED NUMBER: 06465579)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


READSPEAKER LIMITED

COMPANY INFORMATION
for the Year Ended 31st March 2024







DIRECTORS: Mr B N Bergstrom
Mr I Hiroyuki
Mr M Ota





SECRETARY: R Whitehead





REGISTERED OFFICE: 1a The Moorings
Dane Road Industrial Estate
Sale
Cheshire
M33 7BH





REGISTERED NUMBER: 06465579 (England and Wales)





AUDITORS: Xeinadin Audit Limited
100 Barbirolli Square
Manchester
M2 3BD

READSPEAKER LIMITED (REGISTERED NUMBER: 06465579)

BALANCE SHEET
31st March 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 38,054 324,069
Cash at bank 346,764 49,482
384,818 373,551
CREDITORS
Amounts falling due within one year 5 (915,395 ) (707,295 )
NET CURRENT LIABILITIES (530,577 ) (333,744 )
TOTAL ASSETS LESS CURRENT LIABILITIES (530,577 ) (333,744 )

CAPITAL AND RESERVES
Called up share capital 6 1 1
Retained earnings (530,578 ) (333,745 )
SHAREHOLDERS' FUNDS (530,577 ) (333,744 )

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16th April 2024 and were signed on its behalf by:





Mr B N Bergstrom - Director


READSPEAKER LIMITED (REGISTERED NUMBER: 06465579)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2024


1. STATUTORY INFORMATION

ReadSpeaker Limited is a private company, limited by shares, registered in England and Wales, registration number 06465579. The address of the registered office and principal place of business is The Moorings, Dane Road Industrial Estate, Sale, Cheshire, M33 7BH.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Turnover in respect of contracts for on-going services of one year or less is recognised immediately upon commencement. Revenue in respect of contracts for on-going services of one year or more is recognised equally for each year from the date of commencement and thereafter upon the annual anniversary.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.

READSPEAKER LIMITED (REGISTERED NUMBER: 06465579)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2024


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand. Any bank overdrafts are shown within current liabilities.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Going concern
As set out in the Directors' responsibility statement the Directors are required to prepare the financial statements on a going concern basis unless it is inappropriate to presume that the company will continue in business. In satisfaction of this responsibility the Directors have considered the company's ability to meet its liabilities as they fall due. Support has been provided by a loan from the Parent Company, ReadSpeaker BV.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 2 ).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 30,962 322,134
Other debtors 7,092 1,935
38,054 324,069

READSPEAKER LIMITED (REGISTERED NUMBER: 06465579)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2024


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 27 -
Amounts owed to group undertakings 809,138 562,494
Taxation and social security 25,352 68,093
Other creditors 80,878 76,708
915,395 707,295

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1.00 1 1

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Garrett (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Hoya Corporation, a company incorporated in Japan.