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Registered number: 4895890
Plus 4 Audio Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
TONY R J ELSDON FCCA
Chartered Certified Accountant
31 Wildcroft Drive
North Holmwood
Dorking
Surrey
RH5 4TL
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 4895890
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 2,959,402 2,663,660
2,959,402 2,663,660
CURRENT ASSETS
Debtors 6 2,108,516 1,003,489
Cash at bank and in hand 1,571,515 1,575,438
3,680,031 2,578,927
Creditors: Amounts Falling Due Within One Year 7 (1,108,138 ) (691,254 )
NET CURRENT ASSETS (LIABILITIES) 2,571,893 1,887,673
TOTAL ASSETS LESS CURRENT LIABILITIES 5,531,295 4,551,333
Creditors: Amounts Falling Due After More Than One Year 8 - (127,541 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (719,238 ) (640,778 )
NET ASSETS 4,812,057 3,783,014
CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Share premium account 44,900 44,900
Profit and Loss Account 4,766,157 3,737,114
SHAREHOLDERS' FUNDS 4,812,057 3,783,014
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For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Stewart Chaney
Director
25 October 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Plus 4 Audio Limited is a private company, limited by shares, incorporated in England & Wales, registered number 4895890 . The registered office is 31 Wildcroft Drive, North Holmwood, Dorking, Surrey, RH5 4TL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities ­ The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of three years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets.

Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives.

Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.8. Pensions
The company operates a defined contribution scheme for its employees. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. The assets of the scheme are held separately from those of the company.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 18 (2023: 18)
18 18
4. Intangible Assets
Goodwill
£
Cost
As at 1 September 2023 300,000
As at 31 August 2024 300,000
Amortisation
As at 1 September 2023 300,000
As at 31 August 2024 300,000
Net Book Value
As at 31 August 2024 -
As at 1 September 2023 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 September 2023 10,094,294 18,958 22,994 129,467 10,265,713
Additions 1,612,200 - 4,801 3,392 1,620,393
Disposals (767,234 ) - - - (767,234 )
As at 31 August 2024 10,939,260 18,958 27,795 132,859 11,118,872
Depreciation
As at 1 September 2023 7,483,436 15,000 16,306 87,311 7,602,053
Provided during the period 1,055,764 990 2,872 11,387 1,071,013
Disposals (513,596 ) - - - (513,596 )
As at 31 August 2024 8,025,604 15,990 19,178 98,698 8,159,470
Net Book Value
As at 31 August 2024 2,913,656 2,968 8,617 34,161 2,959,402
As at 1 September 2023 2,610,858 3,958 6,688 42,156 2,663,660
Included above are assets held under finance leases or hire purchase contracts with a net book value of £232,217 (2023: £309,623). The depreciation charged to the financial statements in the year in respect of such assets amounted to £77,406 (2023: £103,208).
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,256,644 479,081
Provision for credit notes (113,531 ) -
Prepayments and accrued income 81,739 57,375
Other debtors - 2,606
Director's loan account 196,401 -
Called up share capital not paid 45,000 45,000
Amounts owed by other participating interests 642,263 419,427
2,108,516 1,003,489
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 128,274 165,822
Trade creditors 387,647 257,311
Corporation tax 283,531 94,761
Other taxes and social security 19,872 18,720
VAT 254,224 102,412
Other creditors 3,962 4,472
Accruals and deferred income 30,628 47,653
Director's loan account - 103
1,108,138 691,254
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 127,541
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 128,274 165,822
Later than one year and not later than five years - 127,541
128,274 293,363
128,274 293,363
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 719,238 640,778
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11. Share Capital
2024 2023
Allotted, called up and fully paid £ £
900 Ordinary Shares of £ 1 each 900 900
2024 2023
Allotted, called up but not fully paid £ £
100 Ordinary B shares of £ 1 each 100 100
12. Other Commitments
At the end of the period the company had annual commitments under non-cancellable operating leases as follows:
2024 2023
£ £
Not later than one year 203,834 168,167
Later than one year and not later than five years 203,546 327,190
407,380 495,357
13. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 282,200 -
Final dividend paid - 440,150
282,200 440,150
14. Related Party Transactions
During the year dividends amounting to £211,650 (2023: £330,113) were paid to the director, Mr S C Chaney and dividends amounting to £70,550 (2023: £110,037) were also paid to the director's wife, Mrs C J Chaney.
There was a debit balance on the director's loan account at 31 August 2024 amounted to £196,401 (2023: £103 in credit) which is included under Debtors in the balance sheet. This loan account balance will be repaid before 31 May 2025.
The loan of £350,000 (2023: £350,000) to Chaney & Chaney Ltd, a company incorporated in England & Wales which is wholly owned and managed by the director, Mr S C Chaney and his wife, remained outstanding at the balance sheet date and is included under Debtors in these financial statements.
The loan of £38,625 (2023: £38,625) to Mixbus Australia,  a company incorporated in Australia in which Mr S C Chaney is a director and shareholder,  remained outstanding. at the balance sheet date and is included under Debtors in these financial statements.
During the year the company sold equipment to Plus 4 Audio PTY, a company incorporated in Australia in which Mr S C Chaney is a director and shareholder,  for £253,638. This amount remained outstanding at the balance sheet date and is included under Debtors in these financial statements.
15. Controlling Party
The company's controlling party is Mr S C Chaney by virtue of his ownership of 75% of the voting rights within the issued share capital in the company.
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