2023-03-012024-02-292024-02-29false04655753SOUNDS-WRITE 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SOUNDS-WRITE LIMITED

Registered Number
04655753
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

SOUNDS-WRITE LIMITED
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

BEAVEN, Mary Carmen
WALKER, William John

Registered Address

Whiteleaf Business Centre
11 Little Balmer
Buckingham
MK18 1TF

Registered Number

04655753 (England and Wales)
SOUNDS-WRITE LIMITED
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets317,43630,972
17,43630,972
Current assets
Stocks457,09751,626
Debtors536,396397,239
Current asset investments173,043173,043
Cash at bank and on hand599,054925,615
1,365,5901,547,523
Creditors amounts falling due within one year5(197,746)(339,912)
Net current assets (liabilities)1,167,8441,207,611
Total assets less current liabilities1,185,2801,238,583
Provisions for liabilities6-(858)
Net assets1,185,2801,237,725
Capital and reserves
Called up share capital22
Profit and loss account1,185,2781,237,723
Shareholders' funds1,185,2801,237,725
The financial statements were approved and authorised for issue by the Board of Directors on 7 August 2024, and are signed on its behalf by:
WALKER, William John
Director
Registered Company No. 04655753
SOUNDS-WRITE LIMITED
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Vehicles-4
Office Equipment253
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year1311
3.Tangible fixed assets

Vehicles

Office Equipment

Total

£££
Cost or valuation
At 01 March 2331,85058,59690,446
Additions-802802
At 29 February 2431,85059,39891,248
Depreciation and impairment
At 01 March 2315,26244,21259,474
Charge for year7,9636,37514,338
At 29 February 2423,22550,58773,812
Net book value
At 29 February 248,6258,81117,436
At 28 February 2316,58814,38430,972
4.Stocks

2024

2023

££
Raw materials and consumables45,13127,987
Work in progress11,96623,639
Total57,09751,626
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables51,04836,394
Bank borrowings and overdrafts8925,276
Taxation and social security67,994167,490
Other creditors48,67973,509
Accrued liabilities and deferred income29,13357,243
Total197,746339,912
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)-858
Total-858