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Registration number: 06218138

Sound and Light Concepts Limited

Unaudited Filleted Financial Statements

for the Period from 1 August 2023 to 30 June 2024

 

Sound and Light Concepts Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 11

 

Sound and Light Concepts Limited

Company Information

Director

AN Bottomley

Registered office

Unit 12 Station Court
Park Mill Way
Clayton West
Huddersfield
West Yorkshire
HD8 9XJ

 

Sound and Light Concepts Limited

(Registration number: 06218138)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

127,479

80,054

Current assets

 

Stocks

5

59,482

137,200

Debtors

6

125,562

134,390

Cash at bank and in hand

 

10,475

14,466

 

195,519

286,056

Creditors: Amounts falling due within one year

7

(150,509)

(241,132)

Net current assets

 

45,010

44,924

Total assets less current liabilities

 

172,489

124,978

Creditors: Amounts falling due after more than one year

7

(15,365)

(26,935)

Provisions for liabilities

(21,790)

(14,247)

Net assets

 

135,334

83,796

Capital and reserves

 

Called up share capital

50

50

Capital redemption reserve

50

50

Retained earnings

135,234

83,696

Shareholders' funds

 

135,334

83,796

For the financial period ending 30 June 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 accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Sound and Light Concepts Limited

(Registration number: 06218138)
Balance Sheet as at 30 June 2024

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 November 2024
 

.........................................
AN Bottomley
Director

 

Sound and Light Concepts Limited

Statement of Changes in Equity for the Period from 1 August 2023 to 30 June 2024

Share capital
£

Capital redemption reserve
£

Retained earnings
£

Total
£

At 1 August 2023

50

50

83,696

83,796

Profit for the period

-

-

71,538

71,538

Dividends

-

-

(20,000)

(20,000)

At 30 June 2024

50

50

135,234

135,334

Share capital
£

Capital redemption reserve
£

Retained earnings
£

Total
£

At 1 August 2022

50

50

65,799

65,899

Profit for the period

-

-

27,272

27,272

Dividends

-

-

(9,375)

(9,375)

At 31 July 2023

50

50

83,696

83,796

 

Sound and Light Concepts Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 12 Station Court
Park Mill Way
Clayton West
Huddersfield
West Yorkshire
HD8 9XJ
England

These financial statements were authorised for issue by the director on 22 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Sound and Light Concepts Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 June 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Hire Stock

25% on reducing balance

Plant and machinery

25% on reducing balance

Motor vehicles

25% on reducing balance

Office equipment

25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Sound and Light Concepts Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 June 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Sound and Light Concepts Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 June 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 6 (2023 - 6).

 

Sound and Light Concepts Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 June 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 August 2023

128,900

7,212

4,757

25,600

Additions

74,223

-

1,004

-

Disposals

(4,415)

(998)

(1,653)

-

At 30 June 2024

198,708

6,214

4,108

25,600

Depreciation

At 1 August 2023

67,287

6,307

4,121

8,700

Charge for the period

21,698

203

372

3,873

Eliminated on disposal

(220)

(3,554)

(1,636)

-

At 30 June 2024

88,765

2,956

2,857

12,573

Carrying amount

At 30 June 2024

109,943

3,258

1,251

13,027

At 31 July 2023

61,613

905

636

16,900

Total
£

Cost or valuation

At 1 August 2023

166,469

Additions

75,227

Disposals

(7,066)

At 30 June 2024

234,630

Depreciation

At 1 August 2023

86,415

Charge for the period

26,146

Eliminated on disposal

(5,410)

At 30 June 2024

107,151

Carrying amount

At 30 June 2024

127,479

At 31 July 2023

80,054

 

Sound and Light Concepts Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 June 2024

5

Stocks

2024
£

2023
£

Work in progress

49,782

127,500

Other inventories

9,700

9,700

59,482

137,200

6

Debtors

Current

2024
£

2023
£

Trade debtors

109,164

112,372

Other debtors

16,398

22,018

 

125,562

134,390

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

26,866

17,648

Trade creditors

 

29,607

28,792

Taxation and social security

 

36,023

34,049

Accruals and deferred income

 

3,546

136,338

Other creditors

 

54,467

24,305

 

150,509

241,132

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

15,365

26,935

 

Sound and Light Concepts Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 June 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

10,165

19,352

Hire purchase contracts

5,200

7,583

15,365

26,935

Current loans and borrowings

2024
£

2023
£

Bank borrowings

9,749

9,749

Bank overdrafts

5,718

-

Hire purchase contracts

2,600

2,600

Other borrowings

8,799

5,299

26,866

17,648