REGISTERED NUMBER: 04976433 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 May 2024

for

SPYRAL SOUND LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M A Staton

Mrs J Staton

SECRETARY:

A Dunbar

REGISTERED OFFICE:

16 Northfields Prospect

Putney Bridge Road

London

SW18 1PE

REGISTERED NUMBER:

04976433 (England and Wales)

ACCOUNTANTS:

LBCo Ltd

T/A Lees-Buckley & Co

16 Northfields Prospect

Putney Bridge Road

London

SW18 1PE

FIXED ASSETS

Tangible assets

4

18,935

19,649

CURRENT ASSETS

Debtors

5

8,861

7,503

Cash at bank

19,199

29,550

28,060

37,053

CREDITORS

Amounts falling due within one year

6

17,622

21,061

NET CURRENT ASSETS

10,438

15,992

TOTAL ASSETS LESS CURRENT LIABILITIES

29,373

35,641

CREDITORS

Amounts falling due after more than one year

7

9,273

13,608

NET ASSETS

20,100

22,033

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

9

20,099

22,032

SHAREHOLDERS' FUNDS

20,100

22,033

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 1 April 2025 and were signed on its behalf by:

M A Staton - Director

1.	STATUTORY INFORMATION

Spyral Sound Limited is a private company, limited by shares, registered in England. 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 comprises the invoiced value of goods and services supplied by the company, stated net of value added tax.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation.

Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Furniture and equipment - 25% reducing balance basis.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Furniture

and

equipment

£

COST

At 1 June 2023

105,716

Additions

5,598

At 31 May 2024

111,314

DEPRECIATION

At 1 June 2023

86,067

Charge for year

6,312

At 31 May 2024

92,379

NET BOOK VALUE

At 31 May 2024

18,935

At 31 May 2023

19,649

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.24

31.5.23

£

£

Trade debtors

8,861

4,091

Director's loan account

-

3,412

8,861

7,503

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.24

31.5.23

£

£

Trade creditors

1,799

4,848

Corporation tax

7,441

11,101

Value added tax

1,042

2,812

Other creditors

2,378

-

Director's loan account

641

-

Accrued expenses

4,321

2,300

17,622

21,061

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.24

31.5.23

£

£

Business Bounce Back loan

9,273

13,608

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.24

31.5.23

value:

£

£

1

Ordinary

£1

1

1

9.

RESERVES

Retained

earnings

£

At 1 June 2023

22,032

Profit for the year

31,067

Dividends

(33,000

)

At 31 May 2024

20,099

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

31.5.24

31.5.23

£

£

M A Staton

Balance outstanding at start of year

3,412

8,411

Amounts advanced

-

3,412

Amounts repaid

(3,412

)

(8,411

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

3,412

11.	ULTIMATE CONTROLLING PARTY

The controlling party is M A Staton by virtue of his ownership of 100% of the issued ordinary share capital in the company.