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REGISTERED NUMBER: 04385620 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

LUTTERWORTH SOUND & VISION LIMITED

LUTTERWORTH SOUND & VISION LIMITED (REGISTERED NUMBER: 04385620)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LUTTERWORTH SOUND & VISION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Mr I Jones
Mrs S Jones
Mr P Jones
Mr S Jones





SECRETARY: Mrs S Jones





REGISTERED OFFICE: 2 Church Street
Lutterworth
Leicestershire
LE17 4AW





REGISTERED NUMBER: 04385620 (England and Wales)

LUTTERWORTH SOUND & VISION LIMITED (REGISTERED NUMBER: 04385620)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 74,385 68,958
Investments 6 100 100
74,485 69,058

CURRENT ASSETS
Stocks 7 247,710 250,557
Debtors 8 34,926 21,649
Investments 9 49,501 44,347
Cash at bank and in hand 122,703 99,934
454,840 416,487
CREDITORS
Amounts falling due within one year 10 236,600 184,672
NET CURRENT ASSETS 218,240 231,815
TOTAL ASSETS LESS CURRENT
LIABILITIES

292,725

300,873

PROVISIONS FOR LIABILITIES 13,769 12,320
NET ASSETS 278,956 288,553

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Revaluation reserve 32,423 32,423
Retained earnings 196,533 206,130
278,956 288,553

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LUTTERWORTH SOUND & VISION LIMITED (REGISTERED NUMBER: 04385620)

BALANCE SHEET - continued
31 AUGUST 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 January 2025 and were signed on its behalf by:





Mr I Jones - Director


LUTTERWORTH SOUND & VISION LIMITED (REGISTERED NUMBER: 04385620)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

Lutterworth Sound & Vision Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company is a parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 20% straight line
Motor vehicles - 25% reducing balance
Computer equipment - 20% straight line

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

LUTTERWORTH SOUND & VISION LIMITED (REGISTERED NUMBER: 04385620)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Creditors
Short term trade 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.

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.

Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Operating Leases
Operating lease rentals are charged in the income statement on a straight line basis over the lease term.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 10 ) .

LUTTERWORTH SOUND & VISION LIMITED (REGISTERED NUMBER: 04385620)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 25,000
AMORTISATION
At 1 September 2023
and 31 August 2024 25,000
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2023 170,913 39,357 74,679 284,949
Additions 2,767 24,052 7,551 34,370
Disposals (2,350 ) - - (2,350 )
At 31 August 2024 171,330 63,409 82,230 316,969
DEPRECIATION
At 1 September 2023 124,120 28,785 63,086 215,991
Charge for year 14,470 7,453 6,550 28,473
Eliminated on disposal (1,880 ) - - (1,880 )
At 31 August 2024 136,710 36,238 69,636 242,584
NET BOOK VALUE
At 31 August 2024 34,620 27,171 12,594 74,385
At 31 August 2023 46,793 10,572 11,593 68,958

LUTTERWORTH SOUND & VISION LIMITED (REGISTERED NUMBER: 04385620)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 September 2023
and 31 August 2024 100
NET BOOK VALUE
At 31 August 2024 100
At 31 August 2023 100

7. STOCKS
2024 2023
£    £   
Stocks 247,710 250,557

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 23,672 13,955
Amounts owed by group undertakings 137 237
Other debtors 11,117 7,457
34,926 21,649

9. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Unlisted investments 49,501 44,347

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Payments on account 59,538 64,690
Trade creditors 107,729 78,661
Taxation and social security 8,510 15,953
Other creditors 60,823 25,368
236,600 184,672

11. OTHER FINANCIAL COMMITMENTS

The Company had future operating lease commitments of £46,000 (2023 - £48,400).