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Registered number: 10592317
DG Sound & Light Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Deans
Gibson House Hurricane Court
Hurricane Close
Stafford
ST16 1GZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10592317
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 153,596 167,845
153,596 167,845
CURRENT ASSETS
Debtors 6 69,281 44,240
Cash at bank and in hand 260,166 127,803
329,447 172,043
Creditors: Amounts Falling Due Within One Year 7 (168,374 ) (33,998 )
NET CURRENT ASSETS (LIABILITIES) 161,073 138,045
TOTAL ASSETS LESS CURRENT LIABILITIES 314,669 305,890
Creditors: Amounts Falling Due After More Than One Year 8 (11,641 ) (68,810 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (38,399 ) (31,891 )
NET ASSETS 264,629 205,189
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 264,529 205,089
SHAREHOLDERS' FUNDS 264,629 205,189
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr D P Groves
Director
18 October 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
DG Sound & Light Limited is a private company, limited by shares, registered in England & Wales.  The company's registered number and registered office address can be found on the Company Information page.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the probisions of section 1a "Small Entities" and the Companies Act 2006.  The financial statements have been prepared under the historical cost convention.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of VAT and trade discounts.  The policies adopted for the recognition of turnover are as follows:
Rendering of services
When the outcome of a transaction can be estimated reliably, turnover from sound and light technician activities are recognised by reference to the stage of completion at the balance sheet date.  Stage of completion is measured by reference to the date the service is provided.
Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.
Interest receivable
Interest income is recognised using the effective interest method is recognised as the company's right to receive payment is established.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of five years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation.  Cost includes costs directly attributeable to making the asset capable of operating as intended.  Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment Straight line over 3 years
2.5. Leasing and Hire Purchase Contracts
Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
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2.6. Taxation
Taxation for the year comprises current and deferred tax.  Tax is recognised in the Income Statement, 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 tax
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 assesments in periods different from those in which they aare 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.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.  Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
2.9. Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. 
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 2)
1 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 22,000
As at 31 March 2024 22,000
Amortisation
As at 1 April 2023 22,000
As at 31 March 2024 22,000
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
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5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 254,401 55,540 3,781 2,615 316,337
Additions 16,437 19,990 - 1,291 37,718
As at 31 March 2024 270,838 75,530 3,781 3,906 354,055
Depreciation
As at 1 April 2023 119,506 23,930 2,990 2,066 148,492
Provided during the period 38,165 12,900 198 704 51,967
As at 31 March 2024 157,671 36,830 3,188 2,770 200,459
Net Book Value
As at 31 March 2024 113,167 38,700 593 1,136 153,596
As at 1 April 2023 134,895 31,610 791 549 167,845
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 56,692 31,870
Prepayments and accrued income 9,464 8,336
Other debtors 3,125 3,125
Corporation tax recoverable assets - 909
69,281 44,240
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 26,347 2,334
Bank loans and overdrafts 10,023 10,023
Corporation tax 35,416 -
VAT 35,994 8,061
Other creditors 17,141 11,294
Accruals and deferred income 2,045 1,896
Director's loan account 41,408 390
168,374 33,998
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 11,641 21,643
Other creditors - 47,167
11,641 68,810
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9. Loans
An analysis of the maturity of loans is given below:
2024 2023
£ £
Amounts falling due within one year or on demand:
Bank loans 10,023 10,023
2024 2023
£ £
Amounts falling due between one and five years:
Bank loans 11,641 21,643
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
75 Ordinary A shares of £ 1.00 each 75 75
25 Ordinary B shares of £ 1.00 each 25 25
100 100
11. Other Commitments
Total financial commitments, guarentees and contingencies which are not included in the balance sheet amount to £Nil (2023 - £4,166).
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