Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31Designs, manufactures, and markets mixing consoles, audio interfaces, microphone preamplifiers, monitor controllers and signal processorsfalse2023-01-012825truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03450730 2023-01-01 2023-12-31 03450730 2022-01-01 2022-12-31 03450730 2023-12-31 03450730 2022-12-31 03450730 c:Director2 2023-01-01 2023-12-31 03450730 c:Director5 2023-01-01 2023-12-31 03450730 d:PlantMachinery 2023-01-01 2023-12-31 03450730 d:PlantMachinery 2023-12-31 03450730 d:PlantMachinery 2022-12-31 03450730 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03450730 d:FurnitureFittings 2023-01-01 2023-12-31 03450730 d:FurnitureFittings 2023-12-31 03450730 d:FurnitureFittings 2022-12-31 03450730 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03450730 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03450730 d:CurrentFinancialInstruments 2023-12-31 03450730 d:CurrentFinancialInstruments 2022-12-31 03450730 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03450730 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03450730 d:ShareCapital 2023-12-31 03450730 d:ShareCapital 2022-12-31 03450730 d:SharePremium 2023-12-31 03450730 d:SharePremium 2022-12-31 03450730 d:RetainedEarningsAccumulatedLosses 2023-12-31 03450730 d:RetainedEarningsAccumulatedLosses 2022-12-31 03450730 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-01-01 2023-12-31 03450730 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-12-31 03450730 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-12-31 03450730 c:OrdinaryShareClass1 2023-01-01 2023-12-31 03450730 c:OrdinaryShareClass1 2023-12-31 03450730 c:OrdinaryShareClass1 2022-12-31 03450730 c:FRS102 2023-01-01 2023-12-31 03450730 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03450730 c:FullAccounts 2023-01-01 2023-12-31 03450730 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03450730 2 2023-01-01 2023-12-31 03450730 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 03450730












AUDIENT LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED
 31 DECEMBER 2023





















 


img01e9.png
01483 755 399
hamlyns.com

 
AUDIENT LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF AUDIENT LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Audient Limited for the year ended 31 December 2023 which comprise  the balance sheet and the related notes from the Company's accounting records and from information and explanations you have given to us.
 

As a 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 /en/membership/
regulations-standards-and-guidance.


This report is made solely to the board of directors of Audient Limited, as a body, in accordance with the terms of our engagement at hamlyns.com/tac. Our work has been undertaken solely to prepare for your approval the financial statements of Audient Limited and state those matters that we have agreed to state to the board of directors of Audient Limited, as a body, in this report in accordance with ICAEW Technical release TECH07/16AAF . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Audient Limited and its board of directors, as a body, for our work or for this report.
 
 
It is your duty to ensure that Audient Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Audient Limited. You consider that Audient Limited is exempt from the statutory audit requirement for the year.
 
 
We have not been instructed to carry out an audit or review of the financial statements of Audient 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 financial statements.





Hamlyns Limited
 
Sundial House
98 High Street
Horsell
Woking
Surrey
GU21 4SU

26 July 2024
Page 1

 
AUDIENT LIMITED
REGISTERED NUMBER: 03450730

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
                                                                        Note
£
£

Fixed assets
  

Tangible assets
 4 
212,296
162,021

  
212,296
162,021

Current assets
  

Stocks
  
2,190,692
2,260,491

Debtors: amounts falling due within one year
 5 
994,403
1,429,573

Cash at bank and in hand
  
3,444,907
2,313,244

  
6,630,002
6,003,308

Creditors: amounts falling due within one year
 6 
(1,444,965)
(1,100,727)

Net current assets
  
 
 
5,185,037
 
 
4,902,581

Total assets less current liabilities
  
5,397,333
5,064,602

Provisions for liabilities
  

Other provisions
 7 
(52,000)
(47,000)

  
 
 
(52,000)
 
 
(47,000)

Net assets
  
5,345,333
5,017,602


Capital and reserves
  

Called up share capital 
 8 
241,468
241,468

Share premium account
  
182,862
182,862

Profit and loss account
  
4,921,003
4,593,272

  
5,345,333
5,017,602


Page 2

 
AUDIENT LIMITED
REGISTERED NUMBER: 03450730

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 profit and loss account 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 on 26 July 2024.




___________________________
Simon Thomas Blackwood
___________________________
Philip Geoffrey Hart
Director
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
AUDIENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Audient Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address are as below:
Registered number: 03450730
Registered office: Aspect House, Herriard, Basingstoke, Hampshire, RG25 2PN. 

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the standard exchange rates.

On a monthly basis and at the period year end, foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within 'administrative expenses'. All other foreign exchange gains and losses are presented in profit or loss within 'administrative expenses'.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Page 4

 
AUDIENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and  hence all expenditure on research shall be recognised as an expense when it is incurred. For established development projects, development costs are written off as they are incurred.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss 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.

 
2.8

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.

 
2.9

Taxation

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.

Page 5

 
AUDIENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

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:

Plant and machinery
-
at varying rates on cost
Fixtures and fittings
-
at varying rates on cost

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.

  
2.11

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.
Page 6

 
AUDIENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.16

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 28 (2022 - 25).


4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 January 2023
501,922
40,745
542,667


Additions
144,964
5,247
150,211


Retirements and disposals
(138,556)
(26,665)
(165,221)


Transfers between classes
5,334
(5,334)
-



At 31 December 2023

513,664
13,993
527,657



Depreciation


At 1 January 2023
350,776
29,870
380,646


Charge for the year on owned assets
97,266
2,670
99,936


Retirements and disposals
(138,556)
(26,665)
(165,221)



At 31 December 2023

309,486
5,875
315,361



Net book value



At 31 December 2023
204,178
8,118
212,296



At 31 December 2022
151,146
10,875
162,021

Page 7

 
AUDIENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
901,544
1,361,201

Other debtors
60,312
-

Prepayments
32,547
68,372

994,403
1,429,573



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,000,741
665,248

Corporation tax
-
90,351

Other taxation and social security
61,825
56,575

Other creditors
14,243
5,534

Accruals and deferred income
368,156
283,019

1,444,965
1,100,727


Page 8

 
AUDIENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Provisions





Dilapidation and Warranties

£





At 1 January 2023
47,000


Charged to profit or loss
5,000



At 31 December 2023
52,000
Page 9

 
AUDIENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



241,468 (2022 - 241,468) 1 shares of £1.00 each
241,468
241,468



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £75,965 (2022 - £75,834). Contributions totalling £12,886 (2022 - £3,791) were payable to the fund at the balance sheet date and are included in creditors.


Page 10