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Company Registration No. 03617782 (England and Wales)
Movement, Sound & Lighting Limited Unaudited accounts for the year ended 30 September 2023
Movement, Sound & Lighting Limited Unaudited accounts Contents
Page
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Movement, Sound & Lighting Limited Company Information for the year ended 30 September 2023
Directors
Mr K A Cresswell Mr B Cresswell
Company Number
03617782 (England and Wales)
Registered Office
HIGHLAND HOUSE, MAYFLOWER CLOSE CHANDLER'S FORD EASTLEIGH HAMPSHIRE SO53 4AR
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Movement, Sound & Lighting Limited Statement of financial position as at 30 September 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
51,580 
74,983 
Tangible assets
15,377 
21,022 
Investment property
250,000 
192,507 
316,957 
288,512 
Current assets
Inventories
647,496 
790,551 
Debtors
32,165 
30,268 
Cash at bank and in hand
48,562 
123,594 
728,223 
944,413 
Creditors: amounts falling due within one year
(633,536)
(722,376)
Net current assets
94,687 
222,037 
Total assets less current liabilities
411,644 
510,549 
Creditors: amounts falling due after more than one year
(210,426)
(351,310)
Provisions for liabilities
Deferred tax
(14,373)
- 
Net assets
186,845 
159,239 
Capital and reserves
Called up share capital
100 
100 
Fair value reserve
43,120 
- 
Profit and loss account
143,625 
159,139 
Shareholders' funds
186,845 
159,239 
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by
Mr K A Cresswell Director Company Registration No. 03617782
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Movement, Sound & Lighting Limited Notes to the Accounts for the year ended 30 September 2023
1
Statutory information
Movement, Sound & Lighting Limited is a private company, limited by shares, registered in England and Wales, registration number 03617782. The registered office is HIGHLAND HOUSE, MAYFLOWER CLOSE, CHANDLER'S FORD, EASTLEIGH, HAMPSHIRE, SO53 4AR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
These financial statements have been prepared in accordance with FRS102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1. The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically dispatched to the customer.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.
Other intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Website are being amortised evenly over their estimated useful life of ten years. These comprise expenditure at cost on the company's website, which is being amortised evenly over its estimated economic life of ten years.
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Movement, Sound & Lighting Limited Notes to the Accounts for the year ended 30 September 2023
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.
Motor vehicles
25% Reducing balance
Fixtures & fittings
15% Reducing balance
Computer equipment
15% Reducing balance
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
Inventories
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. 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.
Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
Financial assets
The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
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Movement, Sound & Lighting Limited Notes to the Accounts for the year ended 30 September 2023
Financial liabilities
Basic financial liabilities which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Government grants
Business Interruption Payment (BIP) under the Coronavirus Business Interruption Loan schemes: The BIP is payable in respect of the loan interest for the first 12 months, together with any related fees. The accrual model has been used to recognise the income on a systematic basis over the periods in which the related finance costs are incurred. The company has also benefited from the UK government's provision of security for 80% of the loan.
4
Intangible fixed assets
Goodwill 
Other 
Total 
£ 
£ 
£ 
Cost
At 1 October 2022
5,000 
229,034 
234,034 
At 30 September 2023
5,000 
229,034 
234,034 
Amortisation
At 1 October 2022
3,000 
156,051 
159,051 
Charge for the year
500 
22,903 
23,403 
At 30 September 2023
3,500 
178,954 
182,454 
Net book value
At 30 September 2023
1,500 
50,080 
51,580 
At 30 September 2022
2,000 
72,983 
74,983 
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Movement, Sound & Lighting Limited Notes to the Accounts for the year ended 30 September 2023
5
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 October 2022
42,542 
10,091 
22,191 
74,824 
Additions
- 
- 
1,048 
1,048 
Disposals
(13,417)
- 
(16,746)
(30,163)
At 30 September 2023
29,125 
10,091 
6,493 
45,709 
Depreciation
At 1 October 2022
30,182 
7,018 
16,602 
53,802 
Charge for the year
3,090 
461 
995 
4,546 
On disposals
(13,362)
- 
(14,654)
(28,016)
At 30 September 2023
19,910 
7,479 
2,943 
30,332 
Net book value
At 30 September 2023
9,215 
2,612 
3,550 
15,377 
At 30 September 2022
12,360 
3,073 
5,589 
21,022 
6
Investment property
2023 
£ 
Fair value at 1 October 2022
192,507 
Net gain from fair value adjustments
57,493 
At 30 September 2023
250,000 
7
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
32,165 
30,268 
8
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
79,301 
59,294 
Obligations under finance leases and hire purchase contracts
23,733 
3,739 
Trade creditors
319,280 
377,299 
Taxes and social security
17,010 
21,437 
Other creditors
194,212 
260,607 
633,536 
722,376 
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Movement, Sound & Lighting Limited Notes to the Accounts for the year ended 30 September 2023
9
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
210,426 
327,577 
Obligations under finance leases and hire purchase contracts
- 
23,733 
210,426 
351,310 
Included within creditors are secured debts totalling £299,695 (2022: £414,343) Bank loans are secured by way of a fixed and floating charge over the company's assets.
10
Average number of employees
During the year the average number of employees was 8 (2022: 9).
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