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Registrar

Registration number: 04815777

Event Sound & Light Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 March 2024

 

Event Sound & Light Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

Event Sound & Light Limited

Company Information

Directors

P J Galley

N D Hills

Registered office

3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

Bankers

Barclays Bank
Chelmsford
40-41 High Street
Chelmsford
Essex
CM1 1BE

Accountants

Lambert Chapman LLP
Chartered accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Event Sound & Light Limited
for the Year Ended 30 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Event Sound & Light Limited for the year ended 30 March 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Event Sound & Light Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Event Sound & Light Limited and state those matters that we have agreed to state to the Board of Directors of Event Sound & Light Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Event Sound & Light Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Event Sound & Light Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Event Sound & Light Limited. You consider that Event Sound & Light Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Event Sound & Light Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.






Lambert Chapman LLP
Chartered accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

19 August 2024

 

Event Sound & Light Limited

(Registration number: 04815777)
Balance Sheet as at 30 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

479,880

470,694

Current assets

 

Stocks

5

8,500

9,220

Debtors

6

287,355

287,012

Cash at bank and in hand

 

43,889

41,062

 

339,744

337,294

Creditors: Amounts falling due within one year

7

(292,195)

(386,167)

Net current assets/(liabilities)

 

47,549

(48,873)

Total assets less current liabilities

 

527,429

421,821

Creditors: Amounts falling due after more than one year

7

(263,582)

(226,112)

Provisions for liabilities

(63,123)

(97,790)

Net assets

 

200,724

97,919

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

199,724

96,919

Shareholders' funds

 

200,724

97,919

For the financial year ended 30 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 August 2024 and signed on its behalf by:
 

P J Galley
Director

 

Event Sound & Light Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is: 3 Warners Mill, Silks Way, Braintree, Essex, CM7 3GB.

The principal place of business is: Unit 2, Warren Farm, Lordship Road, Writtle, Chelmsford, Essex, CM1 3WT.

These financial statements were authorised for issue by the Board on 19 August 2024.

2

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the hire and sales of sound and lighting equipment and provision of services thereof in the ordinary course of the company’s activities. Turnover is shown net of 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.

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised on temporary material differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

Depreciation

Depreciation is charged so as to write off the cost or valuation 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% or 33.3% Straight line method

Office equipment

25% Straight line method

Fixtures and fittings

15% Reducing balance method

Motor vehicles

25% Reducing balance method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

 

Event Sound & Light Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Event Sound & Light Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2024

4

Tangible assets

Office equipment
 £

Fixtures and fittings
£

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 31 March 2023

10,846

8,839

122,271

1,710,517

1,852,473

Additions

-

-

-

227,386

227,386

At 30 March 2024

10,846

8,839

122,271

1,937,903

2,079,859

Depreciation

At 31 March 2023

10,492

5,833

92,877

1,272,577

1,381,779

Charge for the year

177

451

7,348

210,224

218,200

At 30 March 2024

10,669

6,284

100,225

1,482,801

1,599,979

Carrying amount

At 30 March 2024

177

2,555

22,046

455,102

479,880

At 30 March 2023

354

3,006

29,394

437,940

470,694

 

Event Sound & Light Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2024

5

Stocks

2024
£

2023
£

Other inventories

8,500

9,220

6

Debtors

2024
£

2023
£

Trade debtors

273,105

282,000

Other debtors

11,040

3,840

Prepayments

3,210

1,172

287,355

287,012

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

101,468

265,006

Loans and borrowings

9

100,972

91,380

Other creditors

 

4,129

20,087

Taxation and social security

 

37,501

1,242

Accruals and deferred income

 

48,125

8,452

 

292,195

386,167

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £65,972 (2023 - £56,380).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

263,582

226,112


Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £189,442 (2023 - £113,281).

 

Event Sound & Light Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2024

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

35,000

35,000

Bank overdrafts

7,356

3,718

Hire purchase contracts

58,616

52,662

100,972

91,380

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

74,139

112,831

Hire purchase contracts

189,443

113,281

263,582

226,112