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REGISTERED NUMBER: 04001917 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

MARSHALLSOUND LTD

MARSHALLSOUND LTD (REGISTERED NUMBER: 04001917)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


MARSHALLSOUND LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: J Marshall
Mrs P B Marshall
J J Marshall





SECRETARY: Mrs P B Marshall





REGISTERED OFFICE: 29 The Square
Winchester
Hampshire
SO23 9EX





REGISTERED NUMBER: 04001917 (England and Wales)





ACCOUNTANTS: Bright Brown Limited
Chartered Accountants
Exchange House
St. Cross Lane
Newport
Isle of Wight
PO30 5BZ

MARSHALLSOUND LTD (REGISTERED NUMBER: 04001917)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 155,341 101,788
155,341 101,788

CURRENT ASSETS
Stocks 174,147 274,203
Debtors 6 44,310 35,906
Cash at bank 7 70,266
218,464 380,375
CREDITORS
Amounts falling due within one year 7 174,590 251,626
NET CURRENT ASSETS 43,874 128,749
TOTAL ASSETS LESS CURRENT LIABILITIES 199,215 230,537

CREDITORS
Amounts falling due after more than one
year

8

(84,363

)

(81,213

)

PROVISIONS FOR LIABILITIES (38,835 ) (19,340 )
NET ASSETS 76,017 129,984

MARSHALLSOUND LTD (REGISTERED NUMBER: 04001917)

BALANCE SHEET - continued
31 MARCH 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 75,817 129,784
SHAREHOLDERS' FUNDS 76,017 129,984

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 1 August 2024 and were signed on its behalf by:




J Marshall - Director Mrs P B Marshall - Director




J J Marshall - Director


MARSHALLSOUND LTD (REGISTERED NUMBER: 04001917)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Marshallsound Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amounts paid in respect of the acquisition of businesses, is amortised over its estimated useful life of 5 years from the date of acquisition.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - Straight line over 10 years
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.


MARSHALLSOUND LTD (REGISTERED NUMBER: 04001917)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 100,000
AMORTISATION
At 1 April 2023
and 31 March 2024 100,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

MARSHALLSOUND LTD (REGISTERED NUMBER: 04001917)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 1,604 338,436 340,040
Additions - 105,434 105,434
Disposals - (67,813 ) (67,813 )
At 31 March 2024 1,604 376,057 377,661
DEPRECIATION
At 1 April 2023 1,604 236,648 238,252
Charge for year - 45,497 45,497
Eliminated on disposal - (61,429 ) (61,429 )
At 31 March 2024 1,604 220,716 222,320
NET BOOK VALUE
At 31 March 2024 - 155,341 155,341
At 31 March 2023 - 101,788 101,788

MARSHALLSOUND LTD (REGISTERED NUMBER: 04001917)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023 84,592
Additions 44,052
Transfer to ownership (16,555 )
At 31 March 2024 112,089
DEPRECIATION
At 1 April 2023 20,229
Charge for year 22,418
Transfer to ownership (6,622 )
At 31 March 2024 36,025
NET BOOK VALUE
At 31 March 2024 76,064
At 31 March 2023 64,363

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 44,310 35,906

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,207 9,956
Hire purchase contracts 11,894 9,382
Payments on account 57,629 98,679
Trade creditors 79,213 15,551
Taxation and social security 6,861 23,125
Other creditors 8,786 94,933
174,590 251,626

MARSHALLSOUND LTD (REGISTERED NUMBER: 04001917)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 13,029 23,235
Hire purchase contracts 71,334 57,978
84,363 81,213