2023-04-012024-02-292024-02-29false12078497VOLTA AUDIO 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VOLTA AUDIO LTD

Registered Number
12078497
(England and Wales)

Unaudited Financial Statements for the Period ended
29 February 2024

VOLTA AUDIO LTD
Company Information
for the period from 1 April 2023 to 29 February 2024

Directors

DIXON, William James
KANE, Alexander Michael
LEVTOV, Yuli

Registered Address

Tower House
81 Fieldgate Street Apt 126
London
E1 1GW

Registered Number

12078497 (England and Wales)
VOLTA AUDIO LTD
Balance Sheet as at
29 February 2024

Notes

29 Feb 2024

31 Mar 2023

£

£

£

£

Fixed assets
Tangible assets313,51717,280
13,51717,280
Current assets
Debtors165,60461,239
Cash at bank and on hand19,7211,010,259
185,3251,071,498
Creditors amounts falling due within one year4(115,873)(93,887)
Net current assets (liabilities)69,452977,611
Total assets less current liabilities82,969994,891
Creditors amounts falling due after one year(109,548)(104,997)
Net assets(26,579)889,894
Capital and reserves
Called up share capital1,7581,638
Share premium2,396,8702,396,870
Profit and loss account(2,425,207)(1,508,614)
Shareholders' funds(26,579)889,894
The financial statements were approved and authorised for issue by the Board of Directors on 17 April 2024, and are signed on its behalf by:
KANE, Alexander Michael
Director
Registered Company No. 12078497
VOLTA AUDIO LTD
Notes to the Financial Statements
for the period ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
2.Average number of employees

20242023
Average number of employees during the year1114
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 2325,129
Additions1,705
At 29 February 2426,834
Depreciation and impairment
At 01 April 237,849
Charge for year5,468
At 29 February 2413,317
Net book value
At 29 February 2413,517
At 31 March 2317,280
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables24,52428,658
Bank borrowings and overdrafts6,5136,568
Taxation and social security82,71937,804
Other creditors16-
Accrued liabilities and deferred income2,10120,857
Total115,87393,887
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Change in reporting period and impact on comparability
The reporting period was shortened from 31st March to 29th February during the 2024 year end. Hence why the comparative reporting period does not align.