4 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 01949344 2023-03-01 2024-02-29 01949344 2024-02-29 01949344 2023-02-28 01949344 2022-03-01 2023-02-28 01949344 2023-02-28 01949344 2022-02-28 01949344 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 01949344 core:FurnitureFittings 2023-03-01 2024-02-29 01949344 bus:Director1 2023-03-01 2024-02-29 01949344 core:WithinOneYear 2024-02-29 01949344 core:WithinOneYear 2023-02-28 01949344 core:AfterOneYear 2023-02-28 01949344 core:ShareCapital 2024-02-29 01949344 core:ShareCapital 2023-02-28 01949344 core:RetainedEarningsAccumulatedLosses 2024-02-29 01949344 core:RetainedEarningsAccumulatedLosses 2023-02-28 01949344 core:CostValuation core:Non-currentFinancialInstruments 2024-02-29 01949344 core:Non-currentFinancialInstruments 2024-02-29 01949344 core:Non-currentFinancialInstruments 2023-02-28 01949344 bus:SmallEntities 2023-03-01 2024-02-29 01949344 bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 01949344 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 01949344 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 01949344 bus:AbridgedAccounts 2023-03-01 2024-02-29 01949344 core:NetGoodwill 2023-03-01 2024-02-29
COMPANY REGISTRATION NUMBER: 01949344
Unisound Limited
Filleted Unaudited Abridged Financial Statements
29 February 2024
Unisound Limited
Abridged Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
414,796
419,493
Investments
7
222,500
222,500
---------
---------
637,296
641,993
Current assets
Stocks
51,750
31,000
Debtors
83,681
204,064
Cash at bank and in hand
407,755
173,453
---------
---------
543,186
408,517
Creditors: amounts falling due within one year
216,120
152,999
---------
---------
Net current assets
327,066
255,518
---------
---------
Total assets less current liabilities
964,362
897,511
Creditors: amounts falling due after more than one year
74,065
Provisions
Taxation including deferred tax
553
723
---------
---------
Net assets
963,809
822,723
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
963,709
822,623
---------
---------
Shareholders funds
963,809
822,723
---------
---------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
Unisound Limited
Abridged Statement of Financial Position (continued)
29 February 2024
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the board of directors and authorised for issue on 28 August 2024 , and are signed on behalf of the board by:
J C Patel
Director
Company registration number: 01949344
Unisound Limited
Notes to the Abridged Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 165 South Lambeth Road, Stockwell, London SW8 1XW.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Deferred Tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full (where material) on timing differences which result in a obligation to pay more (or less) tax at a future date, at average tax rates that are expected to apply when the timing differences reverse, based on current rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full (where material) on timing differences which result in a obligation to pay more (or less) tax at a future date, at average tax rates that are expected to apply when the timing differences reverse, based on current rates and laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Over 10 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
1% straight line
Fixtures and Fittings
-
15% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Intangible assets
£
Cost
At 1 March 2023 and 29 February 2024
78,239
--------
Amortisation
At 1 March 2023 and 29 February 2024
78,239
--------
Carrying amount
At 29 February 2024
--------
At 28 February 2023
--------
6. Tangible assets
£
Cost
At 1 March 2023 and 29 February 2024
514,438
---------
Depreciation
At 1 March 2023
94,945
Charge for the year
4,697
---------
At 29 February 2024
99,642
---------
Carrying amount
At 29 February 2024
414,796
---------
At 28 February 2023
419,493
---------
7. Investments
£
Cost
At 1 March 2023 and 29 February 2024
222,500
---------
Impairment
At 1 March 2023 and 29 February 2024
---------
Carrying amount
At 29 February 2024
222,500
---------
At 28 February 2023
222,500
---------
8. Related party transactions
Creditors include £2,659 (2023 - £3,784) due to the director.