Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31334The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.22023-04-01falseAmusement and recreation activities2truetruefalse 06829168 2023-04-01 2024-03-31 06829168 2022-04-01 2023-03-31 06829168 2024-03-31 06829168 2023-03-31 06829168 2022-04-01 06829168 c:Director2 2023-04-01 2024-03-31 06829168 d:Buildings d:ShortLeaseholdAssets 2023-04-01 2024-03-31 06829168 d:Buildings d:ShortLeaseholdAssets 2024-03-31 06829168 d:Buildings d:ShortLeaseholdAssets 2023-03-31 06829168 d:PlantMachinery 2023-04-01 2024-03-31 06829168 d:PlantMachinery 2024-03-31 06829168 d:PlantMachinery 2023-03-31 06829168 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06829168 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 06829168 d:MotorVehicles 2023-04-01 2024-03-31 06829168 d:MotorVehicles 2024-03-31 06829168 d:MotorVehicles 2023-03-31 06829168 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06829168 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 06829168 d:OfficeEquipment 2023-04-01 2024-03-31 06829168 d:OfficeEquipment 2024-03-31 06829168 d:OfficeEquipment 2023-03-31 06829168 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06829168 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 06829168 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 06829168 d:OtherPropertyPlantEquipment 2024-03-31 06829168 d:OtherPropertyPlantEquipment 2023-03-31 06829168 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06829168 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 06829168 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06829168 d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 06829168 d:CurrentFinancialInstruments 2024-03-31 06829168 d:CurrentFinancialInstruments 2023-03-31 06829168 d:Non-currentFinancialInstruments 2024-03-31 06829168 d:Non-currentFinancialInstruments 2023-03-31 06829168 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 06829168 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06829168 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 06829168 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 06829168 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 06829168 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 06829168 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 06829168 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 06829168 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 06829168 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 06829168 d:ShareCapital 2024-03-31 06829168 d:ShareCapital 2023-03-31 06829168 d:RetainedEarningsAccumulatedLosses 2024-03-31 06829168 d:RetainedEarningsAccumulatedLosses 2023-03-31 06829168 c:FRS102 2023-04-01 2024-03-31 06829168 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06829168 c:FullAccounts 2023-04-01 2024-03-31 06829168 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06829168 d:WithinOneYear 2024-03-31 06829168 d:WithinOneYear 2023-03-31 06829168 d:BetweenOneFiveYears 2024-03-31 06829168 d:BetweenOneFiveYears 2023-03-31 06829168 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 06829168 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 06829168 2 2023-04-01 2024-03-31 06829168 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-03-31 06829168 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-03-31 06829168 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 06829168









WILDING SOUND LIMITED








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
WILDING SOUND LIMITED
REGISTERED NUMBER: 06829168

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
39,431
47,154

Current assets
  

Stocks
 5 
9,500
9,500

Debtors: amounts falling due within one year
 6 
32,831
20,780

Cash at bank and in hand
 7 
1,499
16,488

  
43,830
46,768

Creditors: amounts falling due within one year
 8 
(34,826)
(38,602)

Net current assets
  
 
 
9,004
 
 
8,166

Total assets less current liabilities
  
48,435
55,320

Creditors: amounts falling due after more than one year
 9 
(48,234)
(60,725)

Provisions for liabilities
  

Deferred tax
 11 
(7,563)
(8,769)

Net liabilities
  
(7,362)
(14,174)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(7,462)
(14,274)

  
(7,362)
(14,174)


Page 1

 
WILDING SOUND LIMITED
REGISTERED NUMBER: 06829168
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 March 2025.






Mr M S Stolton
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
WILDING SOUND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Wilding Sound Limited is a company limited by shares, incorporated in England, United Kingdom. The address of the registered office is Suite D, The Business Centre, Faringdon Avenue, Romford, Essex, RM3 8EN. The principal place of business is Unit 18 Walthamstow Business Centre, Clifford Road, Walthamstow, London E17 4SX. The principal activity of the company was that of the retail, hire and installation of electrical, sound and lighting equipment. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 
WILDING SOUND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.8

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 4

 
WILDING SOUND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

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 charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

S/Term Leasehold Property
-
Over period of lease
Plant and machinery
-
25%
Motor vehicles
-
25%
Furniture, fittings and equipment
-
25%
Hire equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

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

 
2.11

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.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term 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.

Page 5

 
WILDING SOUND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the contractual provisions of the instrument.

 
2.16

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 -2).

Page 6

 
WILDING SOUND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





S/Term Leasehold Property
Plant and machinery
Motor vehicles
Furniture, fittings and equipment
Hire equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 April 2023
3,339
431
20,990
15,523
75,825
116,108


Additions
-
-
-
-
4,980
4,980


Disposals
-
-
(5,995)
-
-
(5,995)



At 31 March 2024

3,339
431
14,995
15,523
80,805
115,093



Depreciation


At 1 April 2023
2,337
398
8,304
13,098
44,817
68,954


Charge for the year on owned assets
334
9
-
607
8,439
9,389


Charge for the year on financed assets
-
-
3,124
-
-
3,124


Disposals
-
-
(5,805)
-
-
(5,805)



At 31 March 2024

2,671
407
5,623
13,705
53,256
75,662



Net book value



At 31 March 2024
668
24
9,372
1,818
27,549
39,431



At 31 March 2023
1,002
33
12,686
2,425
31,008
47,154

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
9,372
12,496


5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
9,500
9,500


Page 7

 
WILDING SOUND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Trade debtors
8,195
128

Other debtors
11,460
9,229

Prepayments and accrued income
13,176
11,423

32,831
20,780



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,499
16,488

Less: bank overdrafts
(4,027)
-

(2,528)
16,488



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
4,027
-

Bank loans
11,918
15,374

Trade creditors
6,707
2,196

Other taxation and social security
3,197
3,499

Obligations under finance lease and hire purchase contracts
4,761
4,117

Other creditors
2,159
11,448

Accruals and deferred income
2,057
1,968

34,826
38,602


Page 8

 
WILDING SOUND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
46,494
54,224

Net obligations under finance leases and hire purchase contracts
1,740
6,501

48,234
60,725


The bounce back loan is both interest and repayment free for the first twelve months. After such time the loan is repayable over 5 years at an interest rate of 2.5%.


10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
11,918
15,374

Amounts falling due 1-2 years

Bank loans
12,467
16,901

Amounts falling due 2-5 years

Bank loans
25,395
37,322

Amounts falling due after more than 5 years

Bank loans
8,631
-

58,411
69,597


Page 9

 
WILDING SOUND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Deferred taxation




2024
2023


£

£






At beginning of year
(8,769)
(5,373)


Released/(charged) to profit or loss
1,206
(3,396)



At end of year
(7,563)
(8,769)

2024
2023
£
£


Accelerated capital allowances
(7,563)
(8,769)


12.


Pension commitments

The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £2,978 (2023 - £2,968). Contributions totalling £236 (2023 - £Nil) were payable at the balance sheet date and are included in creditors.


13.


Commitments under operating leases

At 31 March 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
15,000
15,000

Later than 1 year and not later than 5 years
18,410
33,410

33,410
48,410


14.


Transactions with directors

Included within other debtors is the following loan to the director:
M Stolton £11,460 
(2023 - £9,000)
Interest is charged on an average basis at the official rate.

 
Page 10