Registration number:
Sensory Perspective Limited
for the Year Ended 30 November 2023
Sensory Perspective Limited
Company registration number 4411930
Contents
Company Information |
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Director's Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Sensory Perspective Limited
Company registration number 4411930
Company Information
Director |
Susanna Patricia Fitzgerald |
Registered office |
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Accountants |
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Sensory Perspective Limited
Company registration number 4411930
Director's Report for the Year Ended 30 November 2023
The director presents her report and the financial statements for the year ended 30 November 2023.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is the manufacture and retail of electronic equipment.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Sensory Perspective Limited
Company registration number 4411930
Balance Sheet as at 30 November 2023
Note |
30 November |
30 November |
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Fixed assets |
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Investments |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
( |
( |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
16,517 |
16,517 |
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Share premium reserve |
111,048 |
111,048 |
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Treasury shares |
(825) |
(825) |
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Retained earnings |
(382,169) |
(378,417) |
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Shareholders' deficit |
(255,429) |
(251,677) |
For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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• |
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
Sensory Perspective Limited
Company registration number 4411930
Balance Sheet as at 30 November 2023
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Sensory Perspective Limited
Company registration number 4411930
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
The presentational currency is Great British Pounds ("GBP").
Departure from requirements of FRS 102
The company takes advantage of CA 2006 s.399 (2A) not to prepare Group accounts on the grounds that it qualifies as a small company. |
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Sensory Perspective Limited
Company registration number 4411930
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
25% reducing balance method |
Development costs
Development expenditure is capitalised and amortised over its useful life, after demonstrating the following:-
(a) The technical feasibility of completing the intangible asset so that it will be available for use or sale.
(b) the intention to complete the intangible asset and use or sell it.
(c) the ability to use or sell the intangible asset.
(d) the intangible asset will generate probable future economic benefits.
(e) the availability of adequate technical, financial and other resources to complete
the development and to use or sell the intangible asset.
(f) the ability to measure reliably the expenditure attributable to the intangible asset
during its development.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Capitalised development costs |
Straight line method over 10 years |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Sensory Perspective Limited
Company registration number 4411930
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the average cost method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Sensory Perspective Limited
Company registration number 4411930
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Tangible assets |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 December 2022 |
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At 30 November 2023 |
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Depreciation |
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At 1 December 2022 |
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At 30 November 2023 |
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Carrying amount |
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At 30 November 2023 |
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- |
Investments |
30 November |
30 November |
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Investments in associates |
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Details of undertakings
On 23 April 2021, the shareholders approved a resolution to transfer 51% of the company's ownership of Durridge Company Inc., a subsidiary company based in the United States, to the employees of that company for £Nil consideration on 29 July 2020. Durridge Company Inc. owns 100% of the share capital of Durridge UK Limited.
Sensory Perspective Limited
Company registration number 4411930
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Stocks |
30 November |
30 November |
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Other inventories |
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Debtors |
30 November |
30 November |
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Amounts owed by subsidiary undertakings |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
30 November |
30 November |
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Due within one year |
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Loans |
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Trade creditors |
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Accruals and deferred income |
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Other creditors |
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Sensory Perspective Limited
Company registration number 4411930
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Creditors: amounts falling due after more than one year
Note |
30 November |
30 November |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
30 November |
30 November |
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No. |
£ |
No. |
£ |
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16,517 |
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16,517 |
Transactions with Directors |
A loan to the company from the director was £159,505 on 30 November 2023 (30 November 2022: £159,505). No interest is being charged.