Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-11-01falseThe principal activity of the company continued to be that of an advertising agency.66truetruefalse 12582838 2022-11-01 2023-10-31 12582838 2021-06-01 2022-10-31 12582838 2023-10-31 12582838 2022-10-31 12582838 c:Director1 2022-11-01 2023-10-31 12582838 d:FurnitureFittings 2022-11-01 2023-10-31 12582838 d:FurnitureFittings 2023-10-31 12582838 d:FurnitureFittings 2022-10-31 12582838 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 12582838 d:ComputerEquipment 2022-11-01 2023-10-31 12582838 d:ComputerEquipment 2023-10-31 12582838 d:ComputerEquipment 2022-10-31 12582838 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 12582838 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 12582838 d:CurrentFinancialInstruments 2023-10-31 12582838 d:CurrentFinancialInstruments 2022-10-31 12582838 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 12582838 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 12582838 d:ShareCapital 2023-10-31 12582838 d:ShareCapital 2022-10-31 12582838 d:RetainedEarningsAccumulatedLosses 2023-10-31 12582838 d:RetainedEarningsAccumulatedLosses 2022-10-31 12582838 c:OrdinaryShareClass1 2022-11-01 2023-10-31 12582838 c:OrdinaryShareClass1 2023-10-31 12582838 c:OrdinaryShareClass1 2022-10-31 12582838 c:FRS102 2022-11-01 2023-10-31 12582838 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 12582838 c:FullAccounts 2022-11-01 2023-10-31 12582838 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 12582838 2 2022-11-01 2023-10-31 12582838 e:PoundSterling 2022-11-01 2023-10-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 12582838














SONICBRAND LTD

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

 
SONICBRAND LTD
REGISTERED NUMBER:12582838

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
7,870
6,025

  
7,870
6,025

Current assets
  

Debtors: amounts falling due within one year
 5 
200,215
403,293

Cash at bank
 6 
205,232
442,006

  
405,447
845,299

Creditors: amounts falling due within one year
 7 
(614,332)
(746,584)

Net current (liabilities)/assets
  
 
 
(208,885)
 
 
98,715

Total assets less current liabilities
  
(201,015)
104,740

Provisions for liabilities
  

Deferred tax
  
-
(1,016)

  
 
 
-
 
 
(1,016)

Net (liabilities)/assets
  
(201,015)
103,724


Capital and reserves
  

Called up share capital 
 8 
10
10

Profit and loss account
  
(201,025)
103,714

  
(201,015)
103,724


Page 1

 
SONICBRAND LTD
REGISTERED NUMBER:12582838
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




D M Jackson
Director

Date: 31 July 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
SONICBRAND LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Sonicbrand Ltd is a private company, limited by shares, registered in England and Wales, registration number 12582838. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
 
The principal activity of the company continued to be that of an advertising agency.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of the Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Going concern

The financial statements have been prepared on the going concern basis as the directors have confirmed they will continue to provide necessary funding in order for the company to maintain operations and meet liabilities in full for at least the next 12 months. On this basis, the directors are satisfied that the financial statements should be prepared on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash are presented in the Profit and loss account within 'administration expenses'. All other foreign exchange gains and losses are presented in profit or loss.

 
2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from advertising activities is recognised when it is probable the company will receive the rights to the consideration due under the contract.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
SONICBRAND LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
straight-line
Computer equipment
-
20%
straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
SONICBRAND LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.9

 Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.10

 Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.11

 Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

 Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors, trade and other creditors, and loans with related parties.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2022 - 6).


4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost 


At 1 November 2022
-
9,781
9,781


Additions
779
3,972
4,751



At 31 October 2023

779
13,753
14,532



Depreciation


At 1 November 2022
-
3,756
3,756


Charge for the year
156
2,750
2,906



At 31 October 2023

156
6,506
6,662



Net book value



At 31 October 2023
623
7,247
7,870



At 31 October 2022
-
6,025
6,025

Page 5

 
SONICBRAND LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
109,635
399,667

Other debtors
79,370
2,287

Prepayments and accrued income
11,210
1,339

200,215
403,293



6.


Cash

2023
2022
£
£

Cash at bank
205,232
442,006



7.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
70,950
15,443

Corporation tax
-
43,757

Other taxation and social security
21,918
59,024

Other creditors
1,891
92,299

Accruals and deferred income
519,573
536,061

614,332
746,584



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £0.10 each
10
10



9.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £14,606 (2022 - £10,344). Included in other creditors at the year end there is an amount payable of £NIL (2022 - £1,962).

Page 6

 
SONICBRAND LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

10.


Transactions with directors

As at the year end the directors owed £52 (2022 - £52) to the company. The loan is interest free, unsecured and repayable on demand.
During the year, dividends of £NIL (2022 - £160,000) was paid to the directors.

 
Page 7