Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-292023-03-01falseNo description of principal activity74falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13922515 2023-03-01 2024-02-29 13922515 2022-02-17 2023-02-28 13922515 2024-02-29 13922515 2023-02-28 13922515 c:Director3 2023-03-01 2024-02-29 13922515 c:Director5 2023-03-01 2024-02-29 13922515 d:MotorVehicles 2023-03-01 2024-02-29 13922515 d:MotorVehicles 2024-02-29 13922515 d:MotorVehicles 2023-02-28 13922515 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 13922515 d:FurnitureFittings 2023-03-01 2024-02-29 13922515 d:FurnitureFittings 2024-02-29 13922515 d:FurnitureFittings 2023-02-28 13922515 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 13922515 d:OfficeEquipment 2023-03-01 2024-02-29 13922515 d:OfficeEquipment 2024-02-29 13922515 d:OfficeEquipment 2023-02-28 13922515 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 13922515 d:OtherPropertyPlantEquipment 2023-03-01 2024-02-29 13922515 d:OtherPropertyPlantEquipment 2024-02-29 13922515 d:OtherPropertyPlantEquipment 2023-02-28 13922515 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 13922515 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 13922515 d:CurrentFinancialInstruments 2024-02-29 13922515 d:CurrentFinancialInstruments 2023-02-28 13922515 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 13922515 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 13922515 d:ShareCapital 2024-02-29 13922515 d:ShareCapital 2023-02-28 13922515 d:RetainedEarningsAccumulatedLosses 2024-02-29 13922515 d:RetainedEarningsAccumulatedLosses 2023-02-28 13922515 c:FRS102 2023-03-01 2024-02-29 13922515 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 13922515 c:FullAccounts 2023-03-01 2024-02-29 13922515 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13922515 2 2023-03-01 2024-02-29 13922515 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 13922515









SLAPTON SOUND LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
SLAPTON SOUND LIMITED
REGISTERED NUMBER: 13922515

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
68,846
23,675

  
68,846
23,675

Current assets
  

Stocks
  
195,000
-

Debtors: amounts falling due within one year
 5 
33,414
11,338

Cash at bank and in hand
 6 
4,803
7,829

  
233,217
19,167

Creditors: amounts falling due within one year
 7 
(583,109)
(105,237)

Net current liabilities
  
 
 
(349,892)
 
 
(86,070)

Total assets less current liabilities
  
(281,046)
(62,395)

  

Net liabilities
  
(281,046)
(62,395)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(281,146)
(62,495)

  
(281,046)
(62,395)


Page 1

 
SLAPTON SOUND LIMITED
REGISTERED NUMBER: 13922515
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

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 year 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 statement of comprehensive income 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 by: 




O Davies
S Davies
Director
Director


Date: 27 November 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
SLAPTON SOUND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Slapton Sound Limited is a private company, limited by shares and incorproated in England and Wales,
registration number 13922515. The registered office is 101 New Cavendish Street, 1st Floor South London, W1W 6XH.
The principal place of business is PO Box 139, Kingsbridge, Devon, TQ7 9BT.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis. The company is
dependent on the director and shareholder for financial support, which the director is confident will
continue for a period of at least another 12 months following the approval of these financial
statements. The directors will not seek repayment of the debt owed until the company is in a financial position to be able to repay the debt.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
SLAPTON SOUND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

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:

Motor vehicles
-
25%
Fixtures and fittings
-
25%
Office equipment
-
25%
Workshop conversion
-
10 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.

 
2.7

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.

 
2.8

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 4

 
SLAPTON SOUND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 4).

Page 5

 
SLAPTON SOUND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Motor vehicles
Fixtures and fittings
Office equipment
Workshop conversion
Total

£
£
£
£
£



Cost or valuation


At 1 March 2023
29,500
-
1,583
-
31,083


Additions
35,424
2,663
13,591
22,073
73,751


Disposals
(29,500)
-
-
-
(29,500)



At 29 February 2024

35,424
2,663
15,174
22,073
75,334



Depreciation


At 1 March 2023
7,375
-
33
-
7,408


Charge for the year on owned assets
4,174
90
1,549
642
6,455


Disposals
(7,375)
-
-
-
(7,375)



At 29 February 2024

4,174
90
1,582
642
6,488



Net book value



At 29 February 2024
31,250
2,573
13,592
21,431
68,846



At 28 February 2023
22,125
-
1,550
-
23,675

Page 6

 
SLAPTON SOUND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
19,402
520

Other debtors
14,012
10,818

33,414
11,338



6.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
4,803
7,829

4,803
7,829



7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
25,566
4,656

Other creditors
553,043
98,081

Accruals and deferred income
4,500
2,500

583,109
105,237



8.


Related party transactions

Included within creditors is an amount of £552,580 (2023: £98,080) due to the director.

 
Page 7