Caseware UK (AP4) 2023.0.135 2023.0.135 4true2024-01-01falseNo description of principal activity4trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07027558 2024-01-01 2024-12-31 07027558 2023-01-01 2023-12-31 07027558 2024-12-31 07027558 2023-12-31 07027558 c:Director1 2024-01-01 2024-12-31 07027558 d:OfficeEquipment 2024-01-01 2024-12-31 07027558 d:OfficeEquipment 2024-12-31 07027558 d:OfficeEquipment 2023-12-31 07027558 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 07027558 d:ComputerEquipment 2024-01-01 2024-12-31 07027558 d:ComputerEquipment 2024-12-31 07027558 d:ComputerEquipment 2023-12-31 07027558 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 07027558 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 07027558 d:CurrentFinancialInstruments 2024-12-31 07027558 d:CurrentFinancialInstruments 2023-12-31 07027558 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 07027558 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 07027558 d:ShareCapital 2024-12-31 07027558 d:ShareCapital 2023-12-31 07027558 d:RetainedEarningsAccumulatedLosses 2024-12-31 07027558 d:RetainedEarningsAccumulatedLosses 2023-12-31 07027558 c:FRS102 2024-01-01 2024-12-31 07027558 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 07027558 c:FullAccounts 2024-01-01 2024-12-31 07027558 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07027558 2 2024-01-01 2024-12-31 07027558 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure


















The Sound Research UK Limited























Unaudited

Financial statements



For the year ended 31 December 2024



Registered number: 07027558

 
The Sound Research UK Limited - Registered number:07027558



Statement of financial position
As at 31 December 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
6,123
4,993

  
6,123
4,993

Current assets
  

Debtors
 5 
306,589
132,400

Cash at bank and in hand
  
379,672
108,833

  
686,261
241,233

Creditors: amounts falling due within one year
 6 
(435,449)
(233,734)

Net current assets
  
 
 
250,812
 
 
7,499

Total assets less current liabilities
  
256,935
12,492

Net assets
  
256,935
12,492


Capital and reserves
  

Share capital
  
2
2

Profit and loss account
  
256,933
12,490

  
256,935
12,492


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.

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The Sound Research UK Limited - Registered number:07027558



Statement of financial position (continued)
As at 31 December 2024

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 director.




................................................
S Dannatt
Director

Date: 3 April 2025

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
The Sound Research UK Limited
 
 

Notes to the financial statements
For the year ended 31 December 2024

1.


General information

The company is a private company limited by shares and incorporated in England and Wales. Its registered office C/O Buzzacott LLP, 130 Wood Street, London, EC2V 6DL. The company registration number is 07027558.

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 Section 1A of Financial Reporting Standard 102, 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS102') and the Companies Act
2006.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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

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.

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The Sound Research UK Limited
 


Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is provided on the following basis:

Office equipment
-
33%
straight line basis
Computer equipment
-
33%
straight line basis

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 the statement of income and retained earnings.

 
2.4

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.

 
2.5

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.6

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.

 
2.7

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 4

 
The Sound Research UK Limited
 


Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
2.8

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 the statement off income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

 
2.9

Interest income

Interest income is recognised in the statement of income and retained earnings using the effective interest method.

 
2.10

Taxation

Tax is recognised in the statement of income and retained earnings 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 reporting date in the countires where the company operates and generates income.


3.


Employees

The average monthly number of employees during the year was 4 (2023 - 4).






Page 5

 
The Sound Research UK Limited
 
 

Notes to the financial statements
For the year ended 31 December 2024

4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost 


At 1 January 2024
6,955
25,653
32,608


Additions
-
1,695
1,695


Disposals
(6,955)
-
(6,955)



At 31 December 2024

-
27,348
27,348



Depreciation


At 1 January 2024
6,955
20,660
27,615


Charge for the year
-
565
565


Disposals
(6,955)
-
(6,955)



At 31 December 2024

-
21,225
21,225



Net book value



At 31 December 2024
-
6,123
6,123



At 31 December 2023
-
4,993
4,993
Page 6

 
The Sound Research UK Limited
 
 

Notes to the financial statements
For the year ended 31 December 2024

5.


Debtors

2024
2023
£
£

Trade debtors
262,500
-

Amounts owed by joint ventures and associated undertakings
44,089
103,177

Other debtors
-
29,223

306,589
132,400



6.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
2,648
29,880

Amounts owed to associated companies
249,448
180,882

Other taxation and social security
25,116
6,485

Other creditors
2,862
872

Accruals and deferred income
155,375
15,615

435,449
233,734



7.


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 £8,148 (2023 - £5,874). Contributions totalling £872 (2023 - £872) were payable to the fund at the reporting date and are included in creditors.
 


8.


Related party transactions

During the year ended 31 December 2024, the company received net repayments from a company incorporated in Canada under common control totalling £59,088 (2023: received net repayments totalling £31,869). At 31 December 2024, the amount due from this company was £44,089 (2023: £103,117). This loan is interest free and repayable on demand.
During the year ended 31 December 2023, the company made net advances to a company incorporated in the USA under common control totalling £68,567 (2023 : made net repayments totalling £91,592). At 31 December 2024, the amount due to this company was £249,448 (2023: £180,882). This loan is interest free and repayable on demand.

Page 7