Silverfin false false 29/02/2024 01/03/2023 29/02/2024 J Gilbert 19/02/2015 13 March 2025 The principal activity of the company is dealing with acoustic products such as movable wall systems and room dividers. 09449378 2024-02-29 09449378 bus:Director1 2024-02-29 09449378 2023-02-28 09449378 core:CurrentFinancialInstruments 2024-02-29 09449378 core:CurrentFinancialInstruments 2023-02-28 09449378 core:Non-currentFinancialInstruments 2024-02-29 09449378 core:Non-currentFinancialInstruments 2023-02-28 09449378 core:ShareCapital 2024-02-29 09449378 core:ShareCapital 2023-02-28 09449378 core:RetainedEarningsAccumulatedLosses 2024-02-29 09449378 core:RetainedEarningsAccumulatedLosses 2023-02-28 09449378 core:OtherPropertyPlantEquipment 2023-02-28 09449378 core:OtherPropertyPlantEquipment 2024-02-29 09449378 2023-03-01 2024-02-29 09449378 bus:FilletedAccounts 2023-03-01 2024-02-29 09449378 bus:SmallEntities 2023-03-01 2024-02-29 09449378 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 09449378 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 09449378 bus:Director1 2023-03-01 2024-02-29 09449378 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-03-01 2024-02-29 09449378 2022-03-01 2023-02-28 09449378 core:OtherPropertyPlantEquipment 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Company No: 09449378 (England and Wales)

ARCHITECTURAL ACOUSTIC PRODUCTS LTD

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

ARCHITECTURAL ACOUSTIC PRODUCTS LTD

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

ARCHITECTURAL ACOUSTIC PRODUCTS LTD

STATEMENT OF FINANCIAL POSITION

As at 29 February 2024
ARCHITECTURAL ACOUSTIC PRODUCTS LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 29 February 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 4,459 3,487
4,459 3,487
Current assets
Stocks 56,000 56,000
Debtors 4 238,501 217,641
Cash at bank and in hand 5 1,675 9,093
296,176 282,734
Creditors: amounts falling due within one year 6 ( 237,635) ( 217,330)
Net current assets 58,541 65,404
Total assets less current liabilities 63,000 68,891
Creditors: amounts falling due after more than one year 7 ( 45,947) ( 56,160)
Net assets 17,053 12,731
Capital and reserves
Called-up share capital 100 100
Profit and loss account 16,953 12,631
Total shareholders' funds 17,053 12,731

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Architectural Acoustic Products Ltd (registered number: 09449378) were approved and authorised for issue by the Director. They were signed on its behalf by:

J Gilbert
Director

13 March 2025

ARCHITECTURAL ACOUSTIC PRODUCTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
ARCHITECTURAL ACOUSTIC PRODUCTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Architectural Acoustic Products Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is Unit 5 Esgors Business Centre, High Road, Thornwood, CM16 6LY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including the director 7 7

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 March 2023 15,152 15,152
Additions 2,749 2,749
At 29 February 2024 17,901 17,901
Accumulated depreciation
At 01 March 2023 11,665 11,665
Charge for the financial year 1,777 1,777
At 29 February 2024 13,442 13,442
Net book value
At 29 February 2024 4,459 4,459
At 28 February 2023 3,487 3,487

4. Debtors

2024 2023
£ £
Trade debtors 230,767 212,377
Other debtors 7,734 5,264
238,501 217,641

5. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 1,675 9,093
Less: Bank overdrafts ( 12,232) 0
(10,557) 9,093

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 22,310 9,534
Taxation and social security 154,840 136,513
Other creditors 60,485 71,283
237,635 217,330

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 45,947 56,160

8. Financial commitments

Pensions

The company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 3,169 3,222

9. Related party transactions

Included in Other debtors is £4,885 (2023: £4,306) owed by the director. This balance is unsecured and repayable on demand. Interest has been charged at the official rate.