0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 461,029 461,029 461,029 xbrli:pure xbrli:shares iso4217:GBP 06578890 2023-01-01 2023-12-31 06578890 2023-12-31 06578890 2022-12-31 06578890 2022-01-01 2022-12-31 06578890 2022-12-31 06578890 2021-12-31 06578890 bus:Director1 2023-01-01 2023-12-31 06578890 core:WithinOneYear 2023-12-31 06578890 core:WithinOneYear 2022-12-31 06578890 core:AfterOneYear 2023-12-31 06578890 core:AfterOneYear 2022-12-31 06578890 core:ShareCapital 2023-12-31 06578890 core:ShareCapital 2022-12-31 06578890 core:RetainedEarningsAccumulatedLosses 2023-12-31 06578890 core:RetainedEarningsAccumulatedLosses 2022-12-31 06578890 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 06578890 core:Non-currentFinancialInstruments 2023-12-31 06578890 core:Non-currentFinancialInstruments 2022-12-31 06578890 bus:SmallEntities 2023-01-01 2023-12-31 06578890 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 06578890 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06578890 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06578890 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 06578890
SOUND ACTION LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2023
SOUND ACTION LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Investments
4
461,029
461,029
CURRENT ASSETS
Cash at bank and in hand
97
97
CREDITORS: amounts falling due within one year
5
( 394,154)
( 300,878)
---------
---------
NET CURRENT LIABILITIES
( 394,057)
( 300,781)
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
66,972
160,248
CREDITORS: amounts falling due after more than one year
6
( 42,176)
( 135,471)
--------
---------
NET ASSETS
24,796
24,777
--------
---------
CAPITAL AND RESERVES
Called up share capital
751
751
Profit and loss account
24,045
24,026
--------
--------
SHAREHOLDERS FUNDS
24,796
24,777
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SOUND ACTION LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 3 September 2024 , and are signed on behalf of the board by:
S Allison
Director
Company registration number: 06578890
SOUND ACTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1-5 Springfield Mount, Leeds, LS2 9NG.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Income tax
Current tax is recognised on taxable profit for the current and past periods.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. INVESTMENTS
Unlisted
£
Cost
At 1 January 2023 and 31 December 2023
461,029
---------
Impairment
At 1 January 2023 and 31 December 2023
---------
Carrying amount
At 31 December 2023
461,029
---------
At 31 December 2022
461,029
---------
Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.
5. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
93,400
92,000
Trade creditors
247
247
Amounts owed to group undertakings and undertakings in which the company has a participating interest
298,927
206,757
Other creditors
1,580
1,874
---------
---------
394,154
300,878
---------
---------
6. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
42,176
135,471
--------
---------