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REGISTERED NUMBER: 06472043 (England and Wales)















SOUND CREDIT TV LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






SOUND CREDIT TV LIMITED (REGISTERED NUMBER: 06472043)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SOUND CREDIT TV LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr S Coles
Mr M Nicholls
Mr A M Sprung





SECRETARY: Mr S Coles





REGISTERED OFFICE: Unit 26, Mulberry Court
Bourne Road Ind Estate
Bourne Road
Crayford
Kent
DA1 4BF





REGISTERED NUMBER: 06472043 (England and Wales)





ACCOUNTANTS: Spurling Cannon
Chartered Certified Accountants
424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ

SOUND CREDIT TV LIMITED (REGISTERED NUMBER: 06472043)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 764,483 765,846

CURRENT ASSETS
Debtors 5 1,121,165 1,368,805
Cash at bank and in hand 216,858 207,710
1,338,023 1,576,515
CREDITORS
Amounts falling due within one year 6 (457,521 ) (556,243 )
NET CURRENT ASSETS 880,502 1,020,272
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,644,985

1,786,118

CREDITORS
Amounts falling due after more than one
year

7

(17,267

)

-
NET ASSETS 1,627,718 1,786,118

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,627,618 1,786,018
SHAREHOLDERS' FUNDS 1,627,718 1,786,118

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.

SOUND CREDIT TV LIMITED (REGISTERED NUMBER: 06472043)

BALANCE SHEET - continued
31 MARCH 2024


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 10 May 2024 and were signed on its behalf by:





Mr S Coles - Director


SOUND CREDIT TV LIMITED (REGISTERED NUMBER: 06472043)

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

1. STATUTORY INFORMATION

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

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
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 22 (2023 - 18 ) .

SOUND CREDIT TV LIMITED (REGISTERED NUMBER: 06472043)

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

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 1,982,501 65,570 21,970 2,070,041
Additions 178,474 72,490 - 250,964
Disposals (7,500 ) - - (7,500 )
At 31 March 2024 2,153,475 138,060 21,970 2,313,505
DEPRECIATION
At 1 April 2023 1,229,498 52,727 21,970 1,304,195
Charge for year 230,994 21,333 - 252,327
Eliminated on disposal (7,500 ) - - (7,500 )
At 31 March 2024 1,452,992 74,060 21,970 1,549,022
NET BOOK VALUE
At 31 March 2024 700,483 64,000 - 764,483
At 31 March 2023 753,003 12,843 - 765,846

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,091,197 1,339,542
Sundry debtors 7,085 11,701
Prepayments 22,883 17,562
1,121,165 1,368,805

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 267,911 366,142
Hire purchase contracts 4,933 -
Trade creditors 65,665 10,574
Corporation Tax 31,796 35,199
Social security and other taxes 13,380 -
VAT 69,830 140,357
Directors' loan accounts 2,156 2,121
Accrued expenses 1,850 1,850
457,521 556,243

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 17,267 -