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Registration number: 11702985

Semantic Audio Limited

Unaudited Financial Statements

for the Year Ended 30 April 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Semantic Audio Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 5

 

Semantic Audio Limited

Company Information

Directors

C D O Jillings

S C Enderby

R I Stables

N G R Jillings

A J Aftelak

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5AR

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Semantic Audio Limited

Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

Current assets

 

Debtors

5

1,338

1,338

Cash at bank and in hand

 

4,165

165

 

5,503

1,503

Creditors: Amounts falling due within one year

6

(56,433)

(51,876)

Net liabilities

 

(50,930)

(50,373)

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

(51,930)

(51,373)

Shareholders' deficit

 

(50,930)

(50,373)

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the Board on 31 January 2025 and signed on its behalf by:
 

.........................................

N G R Jillings

Director

Company registration number: 11702985

 

Semantic Audio Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5AR

The principal activity of the company is the acquisition, licencing and protection of intellectual property rights.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company had a deficiency of assets at 30 April 2024 amounting to £50,930. At this date an amount of £50,911 was bona vacantia. The company has not traded subsequent to 30 April 2024 and the directors are uncertain of future events. On that basis the financial statements have been prepared on a basis other than going concern.

Revenue recognition

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

The company recognises turnover from licence fees evenly over the period of the licence.

Intangible assets

Intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses. If there is an indication that there has been a significant change in amortisation rate or residual value of an asset, the amortisation of that asset is revised prospectively to reflect the new expectations.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

Semantic Audio Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Asset class

Amortisation method and rate

Intellectual property rights

20% straight line

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.

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.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2023 - 0).

4

Intangible assets

Intellectual property rights
£

Total
£

Cost or valuation

At 1 May 2023

50,000

50,000

At 30 April 2024

50,000

50,000

Amortisation

At 1 May 2023

50,000

50,000

At 30 April 2024

50,000

50,000

Carrying amount

At 30 April 2024

-

-

 

Semantic Audio Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Debtors

2024
£

2023
£

Other debtors

1,338

1,338

1,338

1,338

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

2,669

-

Other creditors

53,764

51,876

56,433

51,876