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REGISTERED NUMBER: 02697702












Unaudited Financial Statements for the Year Ended 31 August 2024

for

Tsprofessional Audio Limited

Tsprofessional Audio Limited (Registered number: 02697702)






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


Tsprofessional Audio Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: K W Upton





REGISTERED OFFICE: Unit 6 Avocet Trading Estate
Victoria Gardens
Burgess Hill
West Sussex
RH15 9NH





REGISTERED NUMBER: 02697702





ACCOUNTANTS: Price Green & Co
Lynnem House
1 Victoria Way
Burgess Hill
West Sussex
RH15 9NF

Tsprofessional Audio Limited (Registered number: 02697702)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 59,764 70,529

CURRENT ASSETS
Stocks 102,757 109,843
Debtors 5 38,534 85,103
Cash at bank and in hand 19,734 70
161,025 195,016
CREDITORS
Amounts falling due within one year 6 102,082 127,590
NET CURRENT ASSETS 58,943 67,426
TOTAL ASSETS LESS CURRENT
LIABILITIES

118,707

137,955

CREDITORS
Amounts falling due after more than one
year

7

(35,589

)

(47,278

)

PROVISIONS FOR LIABILITIES (11,355 ) (13,401 )
NET ASSETS 71,763 77,276

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 71,663 77,176
71,763 77,276

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 director acknowledges his 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.

Tsprofessional Audio Limited (Registered number: 02697702)

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 director and authorised for issue on 18 March 2025 and were signed by:





K W Upton - Director


Tsprofessional Audio Limited (Registered number: 02697702)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Tsprofessional Audio Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance, 15% on reducing balance and 10% on reducing balance

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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Tsprofessional Audio Limited (Registered number: 02697702)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 419,054
Additions 2,154
At 31 August 2024 421,208
DEPRECIATION
At 1 September 2023 348,525
Charge for year 12,919
At 31 August 2024 361,444
NET BOOK VALUE
At 31 August 2024 59,764
At 31 August 2023 70,529

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 September 2023
and 31 August 2024 32,286
DEPRECIATION
At 1 September 2023 14,126
Charge for year 4,540
At 31 August 2024 18,666
NET BOOK VALUE
At 31 August 2024 13,620
At 31 August 2023 18,160

Tsprofessional Audio Limited (Registered number: 02697702)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 37,804 84,540
Other debtors 730 563
38,534 85,103

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 5,555 20,048
Hire purchase contracts 6,133 6,133
Trade creditors 29,047 38,654
Taxation and social security 23,976 21,660
Other creditors 37,371 41,095
102,082 127,590

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans 26,389 31,945
Hire purchase contracts 9,200 15,333
35,589 47,278