Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.16false2023-04-01No description of principal activity6truetrue 09123059 2023-04-01 2024-03-31 09123059 2022-04-01 2023-03-31 09123059 2024-03-31 09123059 2023-03-31 09123059 c:Director3 2023-04-01 2024-03-31 09123059 d:PlantMachinery 2023-04-01 2024-03-31 09123059 d:PlantMachinery 2024-03-31 09123059 d:PlantMachinery 2023-03-31 09123059 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09123059 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 09123059 d:MotorVehicles 2023-04-01 2024-03-31 09123059 d:MotorVehicles 2024-03-31 09123059 d:MotorVehicles 2023-03-31 09123059 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09123059 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 09123059 d:FurnitureFittings 2023-04-01 2024-03-31 09123059 d:FurnitureFittings 2024-03-31 09123059 d:FurnitureFittings 2023-03-31 09123059 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09123059 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 09123059 d:OfficeEquipment 2023-04-01 2024-03-31 09123059 d:OfficeEquipment 2024-03-31 09123059 d:OfficeEquipment 2023-03-31 09123059 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09123059 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 09123059 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09123059 d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 09123059 d:CurrentFinancialInstruments 2024-03-31 09123059 d:CurrentFinancialInstruments 2023-03-31 09123059 d:Non-currentFinancialInstruments 2024-03-31 09123059 d:Non-currentFinancialInstruments 2023-03-31 09123059 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 09123059 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09123059 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 09123059 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 09123059 d:ShareCapital 2024-03-31 09123059 d:ShareCapital 2023-03-31 09123059 d:RetainedEarningsAccumulatedLosses 2024-03-31 09123059 d:RetainedEarningsAccumulatedLosses 2023-03-31 09123059 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 09123059 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 09123059 c:FRS102 2023-04-01 2024-03-31 09123059 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09123059 c:FullAccounts 2023-04-01 2024-03-31 09123059 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09123059 2 2023-04-01 2024-03-31 09123059 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-03-31 09123059 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-03-31 09123059 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-03-31 09123059 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-03-31 09123059 d:LeasedAssetsHeldAsLessee 2024-03-31 09123059 d:LeasedAssetsHeldAsLessee 2023-03-31 09123059 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number:  09123059














UK ACOUSTIC SYSTEMS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


 
UK ACOUSTIC SYSTEMS LIMITED
REGISTERED NUMBER: 09123059

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
236,226
223,111

  
236,226
223,111

Current assets
  

Stocks
  
267,185
147,248

Debtors: amounts falling due within one year
 5 
857,155
1,412,380

Cash at bank and in hand
 6 
307,953
95,114

  
1,432,293
1,654,742

Creditors: amounts falling due within one year
 7 
(217,938)
(257,930)

Net current assets
  
 
 
1,214,355
 
 
1,396,812

Total assets less current liabilities
  
1,450,581
1,619,923

Creditors: amounts falling due after more than one year
 8 
(149,525)
(219,127)

Provisions for liabilities
  

Deferred tax
 9 
(53,064)
(40,389)

  
 
 
(53,064)
 
 
(40,389)

Net assets
  
1,247,992
1,360,407


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
1,247,990
1,360,405

  
1,247,992
1,360,407


Page 1

 
UK ACOUSTIC SYSTEMS LIMITED
REGISTERED NUMBER: 09123059
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider 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 directors acknowledge their 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 income and retained earnings 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 by: 




................................................
M Wilkins
Director

Date: 28 March 2025

The notes on pages 3 to 13 form part of these financial statements.

Page 2

 
UK ACOUSTIC SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England and Wales (no. 09123059). The address of the registered office is Channel Way Business Park, Channel Way, Ashton-On-Ribble, Preston, England, PR2 2YA.
These financial statements present information about the Company as an individual undertaking.
The presentation currency of these financial statements is £ sterling; the financial statements are rounded to the nearest £.

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.

Page 3

 
UK ACOUSTIC SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
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.

Page 4

 
UK ACOUSTIC SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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 5

 
UK ACOUSTIC SYSTEMS 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:

Plant and machinery
-
20%
reducing balance
Motor vehicles
-
15%
& 25% reducing balance
Fixtures and fittings
-
20%
reducing balance
Office equipment
-
33%
reducing balance

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 stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
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 6

 
UK ACOUSTIC SYSTEMS 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

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 6 (2023 - 16).

Page 7

 
UK ACOUSTIC SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
232,616
124,340
26,792
44,788
428,536


Additions
32,109
14,996
-
15,531
62,636



At 31 March 2024

264,725
139,336
26,792
60,319
491,172



Depreciation


At 1 April 2023
143,989
9,066
17,538
34,832
205,425


Charge for the year on owned assets
12,105
20,459
1,850
8,411
42,825


Charge for the year on financed assets
6,696
-
-
-
6,696



At 31 March 2024

162,790
29,525
19,388
43,243
254,946



Net book value



At 31 March 2024
101,935
109,811
7,404
17,076
236,226



At 31 March 2023
88,627
115,274
9,254
9,956
223,111

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


2024
2023
£
£



Plant and machinery
26,787
33,483

Motor vehicles
97,609
71,019

124,396
104,502

Page 8

 
UK ACOUSTIC SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
6,889
229,251

Other debtors
570,368
543,237

Prepayments and accrued income
279,898
639,892

857,155
1,412,380



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
307,953
95,114

307,953
95,114


Page 9

 
UK ACOUSTIC SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Other loans
50,000
50,000

Trade creditors
16,698
131,452

Amounts owed to group undertakings
10,795
-

Corporation tax
16,562
2,547

Other taxation and social security
8,348
8,238

Obligations under finance lease and hire purchase contracts
9,606
24,330

Other creditors
85,020
20,662

Accruals and deferred income
10,909
10,701

217,938
257,930


The following liabilities were secured:

2024
2023
£
£



Net obligations under finance leases and hire purchase contracts
9,606
24,330

9,606
24,330

Details of security provided:

The proceeds of factored debts balance contains a fixed and floating charge over all the property or undertakings of the company.
Obligations under finance lease and hire purchase contracts are secured on the assets concerned.

Page 10

 
UK ACOUSTIC SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
12,500
22,500

Other loans
70,835
120,831

Net obligations under finance leases and hire purchase contracts
66,190
75,796

149,525
219,127


The following liabilities were secured:

2024
2023
£
£



Net obligations under finance leases and hire purchase contracts
66,190
75,796

66,190
75,796

Details of security provided:

Obligations under finance lease and hire purchase contracts are secured on the assets concerned.

Page 11

 
UK ACOUSTIC SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Deferred taxation




2024


£






At beginning of year
(40,389)


Charged to profit or loss
(12,675)



At end of year
(53,064)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(53,064)
(40,389)

(53,064)
(40,389)


10.


Pension commitments

The Company operates a defined contributions pension 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 £3,608 (2023 - £4,348).
Contributions totalling £nil (2023 - £nil) were payable to the fund at the balance sheet date and are included in creditors.


11.


Related party transactions

Included in other debtors and other creditors are the following amounts owed (to) / from related parties:


2024
2023
£
£

Wilkins Building Materials Ltd
547,350
507,241
M & C Wilkins
(50,411)
(657)
496,939
506,584

Wilkins Building Materials Ltd is a connected company.
M & C Wilkins are directors.
The loans are repayable on demand.

Page 12

 
UK ACOUSTIC SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.


Controlling party

The Company is under the control of the directors.

 
Page 13