Registered number
07434160
SBS AUDIO VISUAL LTD
Filleted Accounts
31 December 2023
SBS AUDIO VISUAL LTD
Registered number: 07434160
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 479,666 370,061
Current assets
Stocks 5,250 22,511
Debtors 4 10,944 10,393
Cash at bank and in hand 70,607 32,345
86,801 65,249
Creditors: amounts falling due within one year 5 (508,737) (362,637)
Net current liabilities (421,936) (297,388)
Total assets less current liabilities 57,730 72,673
Creditors: amounts falling due after more than one year 6 (18,103) (54,575)
Net assets 39,627 18,098
Capital and reserves
Called up share capital 100 100
Profit and loss account 39,527 17,998
Shareholders' funds 39,627 18,098
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G Turner
Director
Approved by the board on 16 August 2024
SBS AUDIO VISUAL LTD
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 6
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 517,483
Additions 160,609
At 31 December 2023 678,092
Depreciation
At 1 January 2023 147,422
Charge for the year 51,004
At 31 December 2023 198,426
Net book value
At 31 December 2023 479,666
At 31 December 2022 370,061
4 Debtors 2023 2022
£ £
Trade debtors 10,944 10,393
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 11,064 11,064
Obligations under finance lease and hire purchase contracts 29,042 30,264
Trade creditors 3,660 25,312
Directors loan account 256,286 236,551
Taxation and social security costs 13,558 12,424
Other creditors 195,127 47,022
508,737 362,637
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 18,103 25,479
Obligations under finance lease and hire purchase contracts - 29,096
18,103 54,575
7 Other information
SBS AUDIO VISUAL LTD is a private company limited by shares and incorporated in England. Its registered office is:
651 A
Mauldeth Road west
Chorlton
Manchester
M21 7SA
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