Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-282024-02-28false2023-02-06falsedevelopment and marketing of a patented invention2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14642041 2023-02-05 14642041 2023-02-06 2024-02-28 14642041 2022-03-01 2023-02-05 14642041 2024-02-28 14642041 c:Director2 2023-02-06 2024-02-28 14642041 d:OfficeEquipment 2023-02-06 2024-02-28 14642041 d:OfficeEquipment 2024-02-28 14642041 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-06 2024-02-28 14642041 d:CurrentFinancialInstruments 2024-02-28 14642041 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-28 14642041 d:ShareCapital 2024-02-28 14642041 d:RetainedEarningsAccumulatedLosses 2024-02-28 14642041 c:FRS102 2023-02-06 2024-02-28 14642041 c:AuditExempt-NoAccountantsReport 2023-02-06 2024-02-28 14642041 c:FullAccounts 2023-02-06 2024-02-28 14642041 c:PrivateLimitedCompanyLtd 2023-02-06 2024-02-28 14642041 e:PoundSterling 2023-02-06 2024-02-28 iso4217:GBP xbrli:pure

Registered number: 14642041









ELEVATED SOUND SOLUTIONS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 28 FEBRUARY 2024

 
ELEVATED SOUND SOLUTIONS LIMITED
REGISTERED NUMBER: 14642041

BALANCE SHEET
AS AT 28 FEBRUARY 2024

2024
Note
£

Fixed assets
  

Tangible assets
 4 
508

  
508

Current assets
  

Work in progress
  
9,981

Debtors: amounts falling due within one year
 5 
8,280

  
18,261

Creditors: amounts falling due within one year
 6 
(20,535)

Net current (liabilities)/assets
  
 
 
(2,274)

Total assets less current liabilities
  
(1,766)

  

Net (liabilities)/assets
  
(1,766)


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
(1,866)

  
(1,766)


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 period 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 29 October 2024.




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ELEVATED SOUND SOLUTIONS LIMITED
REGISTERED NUMBER: 14642041
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2024

Mr. R. Elliston
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
ELEVATED SOUND SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2024

1.


General information

The entity is a private company limited by shares. The company was incorporated in England & Wales on 6th February 2023, and the Registered Office is located at 6 Northlands Road, Southampton, Hampshire, SO15 2LF. The principle activity of the company is the development and marketing of a patented invention. 

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

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:

Office equipment
-
3 years

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.

 
2.3

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.4

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.

Page 3

 
ELEVATED SOUND SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the period was 2.

Page 4

 
ELEVATED SOUND SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2024

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


Additions
762



At 28 February 2024

762



Depreciation


Charge for the period on owned assets
254



At 28 February 2024

254



Net book value



At 28 February 2024
508


5.


Debtors

2024
£


Amounts owed by group undertakings
8,231

Other debtors
49

8,280



6.


Creditors: Amounts falling due within one year

2024
£

Other creditors
19,751

Accruals and deferred income
784

20,535


Page 5

 
ELEVATED SOUND SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2024

7.


Related party transactions

During the period the company used funds provided by a connected company, Better Green Limited, as working capital. The balance owed at year end to that company was £19,751. Part of that balance was incurred in order to pay costs on behalf of the parent company, Preeminent Smart Solutions Limited. The balance that company owed to Elevated Sound Solutions at year end was £8,231.


8.


Controlling party

The ultimate parent company is Preeminent Smart Solutions Limited, by virtue of it's majority shareholding iin Elevated Sound Solutions Limited. The ultimate controlling party is Mr. E. Aartsen by virtue of his shareholding in the parent company. 

 
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