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Company No: 12955765 (England and Wales)

AUDITION READY LTD

Abridged Unaudited Financial Statements
For the financial year ended 31 October 2024

AUDITION READY LTD

Abridged Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

AUDITION READY LTD

COMPANY INFORMATION

For the financial year ended 31 October 2024
AUDITION READY LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2024
DIRECTORS Rachel Ann Crouch
Holly Kate Myers
Amy Sankey
REGISTERED OFFICE 39 Mount Ephraim
Tunbridge Wells
TN4 8AA
United Kingdom
COMPANY NUMBER 12955765 (England and Wales)
ACCOUNTANT Synergee
Pluto House
6 Vale Avenue
Tunbridge Wells
TN1 1DJ
AUDITION READY LTD

BALANCE SHEET

As at 31 October 2024
AUDITION READY LTD

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 96,956 102,409
Tangible assets 4 151 302
97,107 102,711
Current assets
Debtors 221 21,300
Cash at bank and in hand 1,222 16,855
1,443 38,155
Creditors: amounts falling due within one year ( 150,082) ( 186,023)
Net current liabilities (148,639) (147,868)
Total assets less current liabilities (51,532) (45,157)
Net liabilities ( 51,532) ( 45,157)
Capital and reserves
Called-up share capital 5 100 100
Profit and loss account ( 51,632 ) ( 45,257 )
Total shareholders' deficit ( 51,532) ( 45,157)

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Audition Ready Ltd (registered number: 12955765) were approved and authorised for issue by the Board of Directors on 26 February 2025. They were signed on its behalf by:

Amy Sankey
Director
AUDITION READY LTD

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
AUDITION READY LTD

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

For the financial year ended 31 October 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

Audition Ready 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 39 Mount Ephraim, Tunbridge Wells, TN4 8AA, 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 £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

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 Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 5 years straight line
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. 4 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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 November 2023 118,164 118,164
Additions 21,600 21,600
At 31 October 2024 139,764 139,764
Accumulated amortisation
At 01 November 2023 15,755 15,755
Charge for the financial year 27,053 27,053
At 31 October 2024 42,808 42,808
Net book value
At 31 October 2024 96,956 96,956
At 31 October 2023 102,409 102,409

Development costs have been capitalised in accordance with the requirements of FRS 102 and are therefore not treated, for dividend purposes, as a realised loss.

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 November 2023 604 604
At 31 October 2024 604 604
Accumulated depreciation
At 01 November 2023 302 302
Charge for the financial year 151 151
At 31 October 2024 453 453
Net book value
At 31 October 2024 151 151
At 31 October 2023 302 302

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
10,000 Ordinary shares of £ 0.01 each (2023: 100 shares of £ 1.00 each) 100 100