Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31No description of principal activity62023-01-017falsetruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08854951 2023-01-01 2023-12-31 08854951 2022-01-01 2022-12-31 08854951 2023-12-31 08854951 2022-12-31 08854951 c:Director1 2023-01-01 2023-12-31 08854951 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 08854951 d:Buildings d:LongLeaseholdAssets 2023-12-31 08854951 d:Buildings d:LongLeaseholdAssets 2022-12-31 08854951 d:MotorVehicles 2023-01-01 2023-12-31 08854951 d:MotorVehicles 2023-12-31 08854951 d:MotorVehicles 2022-12-31 08854951 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08854951 d:FurnitureFittings 2023-01-01 2023-12-31 08854951 d:FurnitureFittings 2023-12-31 08854951 d:FurnitureFittings 2022-12-31 08854951 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08854951 d:ComputerEquipment 2023-01-01 2023-12-31 08854951 d:ComputerEquipment 2023-12-31 08854951 d:ComputerEquipment 2022-12-31 08854951 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08854951 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08854951 d:Goodwill 2023-12-31 08854951 d:Goodwill 2022-12-31 08854951 d:CurrentFinancialInstruments 2023-12-31 08854951 d:CurrentFinancialInstruments 2022-12-31 08854951 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08854951 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 08854951 d:ShareCapital 2023-12-31 08854951 d:ShareCapital 2022-12-31 08854951 d:CapitalRedemptionReserve 2023-12-31 08854951 d:CapitalRedemptionReserve 2022-12-31 08854951 d:RetainedEarningsAccumulatedLosses 2023-12-31 08854951 d:RetainedEarningsAccumulatedLosses 2022-12-31 08854951 c:FRS102 2023-01-01 2023-12-31 08854951 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08854951 c:FullAccounts 2023-01-01 2023-12-31 08854951 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08854951 2 2023-01-01 2023-12-31 08854951 4 2023-01-01 2023-12-31 08854951 d:Goodwill d:OwnedIntangibleAssets 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 08854951









HUGH SYMONS AUDIO VISUAL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
HUGH SYMONS AUDIO VISUAL LIMITED
REGISTERED NUMBER:08854951

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
5,594
22,372

Tangible assets
 5 
154,028
120,018

  
159,622
142,390

Current assets
  

Stocks
 6 
22,637
5,032

Debtors: amounts falling due within one year
 7 
317,839
301,280

Cash at bank and in hand
  
1,951,232
1,561,441

  
2,291,708
1,867,753

Creditors: amounts falling due within one year
  
(613,133)
(519,966)

Net current assets
  
 
 
1,678,575
 
 
1,347,787

Net assets
  
1,838,197
1,490,177


Capital and reserves
  

Called up share capital 
  
100
100

Capital redemption reserve
  
415,267
415,267

Retained earnings
  
1,422,830
1,074,810

Shareholders' funds
  
1,838,197
1,490,177


Page 1

 
HUGH SYMONS AUDIO VISUAL LIMITED
REGISTERED NUMBER:08854951
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 statement of income and retained earnings 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: 




C G Fisher
Director

Date: 5 August 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
HUGH SYMONS AUDIO VISUAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Hugh Symons Audio Visual Limited is a private company, limited by shares, domiciled and incorporated in England and Wales (registered number: 08854951). The registered office address is Unit 12 Alder Hills Park, 16 Alder Hills, Poole, Dorset, BH12 4AR.
The Company's functional and presentational currency is GBP.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast doubt on the Company's ability to continue as a going concern.

 
2.3

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. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Government grants

Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

Page 3

 
HUGH SYMONS AUDIO VISUAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the profit or loss over its remaining useful economic life of nine years.

 
2.7

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:

L/Term Leasehold Property
-
over the period of the lease
Motor vehicles
-
straight-line over six years
Fixtures & fittings
-
20% straight-line
Computer equipment
-
33% 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.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 4

 
HUGH SYMONS AUDIO VISUAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

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.

 
2.10

Financial instruments

Financial assets and financial liabilities are recognised in the Balance Sheet when the Company becomes a party to the contractual provisions of the instrument. 
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Company will not be able to collect all amounts due.
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank, short-term bank deposits with an original maturity of three months or less and bank overdrafts which are an integral part of the Company’s cash management.
Financial liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.

 
2.11

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 5

 
HUGH SYMONS AUDIO VISUAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.12

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 income 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, 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 except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.13

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2022 -7).

Page 6

 
HUGH SYMONS AUDIO VISUAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 January 2023
150,000



At 31 December 2023

150,000



Amortisation


At 1 January 2023
127,628


Charge for the year
16,778



At 31 December 2023

144,406



Net book value



At 31 December 2023
5,594



At 31 December 2022
22,372



Page 7

 
HUGH SYMONS AUDIO VISUAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





L/Term Leasehold Property
Motor vehicles
Fixtures & fittings
Computer equipment
Total

£
£
£
£
£



Cost


At 1 January 2023
77,237
102,985
37,049
26,729
244,000


Additions
-
68,736
-
1,761
70,497



At 31 December 2023

77,237
171,721
37,049
28,490
314,497



Depreciation


At 1 January 2023
52,876
8,599
37,049
25,458
123,982


Charge for the year
8,025
27,223
-
1,239
36,487



At 31 December 2023

60,901
35,822
37,049
26,697
160,469



Net book value



At 31 December 2023
16,336
135,899
-
1,793
154,028



At 31 December 2022
24,361
94,386
-
1,271
120,018


6.


Stocks

2023
2022
£
£

Finished goods and goods for resale
22,637
5,032


Page 8

 
HUGH SYMONS AUDIO VISUAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Debtors

2023
2022
£
£


Trade debtors
269,527
246,812

Other debtors
16,752
20,253

Prepayments and accrued income
15,562
23,685

Deferred taxation
15,998
10,530

317,839
301,280



8.


Related party transactions

During the year, the Company sold goods and services to Hugh Symons Information Management Limited, a company deemed to be a related party by virtue of being owned by a close family member of the owner of Hugh Symons Audio Visual Limited, to the value of £1,790 (2022 - £4,164).  
Amounts purchased from Hugh Symons Information Management Limited during the year totalled £15,452 
(2022 - £3,579). At the year end, £Nil (2022 - £Nil) was owed by Hugh Symons Information Management Limited. 
During the year, the Company sold goods and services to One Four The Road Limited, a company deemed to be a related party by virtue of being owned by a close family member of the owner of Hugh Symons Audio Visual Limited, to the value of £5,031 
(2022 - £4,321).
At the year end £205 (2022 - £253was owed by One For The Road Limited.
During the year, the Company sold goods and services to Alex Dickie, a individual deemed to be a related party by virtue of being a close family member, to the value of £415 (
2022 - £Nil). At the year end £160 (2022 - £Nil) was owed by Alex Dickie.
Amounts purchased from Alex Dickie, during the year totalled £Nil (
2022 - £Nil).
During the year, the Company sold goods and services to Hugh Symons Exchange Ltd, a company deemed to be a related party by virtue of being owned by a close family member of the owner of Hugh Symons Audio Visual Limited, to the value of £10,537 
(2022 - £Nil).

 
Page 9