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Company registration number: 13002964







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


SOUND SERVICE UK LIMITED (FORMERLY SOUND SERVICE MSL DISTRIBUTION LTD)


































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SOUND SERVICE UK LIMITED
 


 
COMPANY INFORMATION


Director
J F Stock 




Registered number
13002964



Registered office
Unit C1
Belcon Industrial Estate

Geddings Road

Hoddesdon

Hertfordshire

EN11 0NT




Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

Richmond House

Walkern Road

Stevenage

Herts

SG1 3QP





 


SOUND SERVICE UK LIMITED
 



CONTENTS



Page
Balance sheet
1
Notes to the financial statements
2 - 5

 


SOUND SERVICE UK LIMITED
REGISTERED NUMBER:13002964



BALANCE SHEET
AS AT 31 DECEMBER 2023

 
2023
Unaudited 
2022
Note
£
£

  

Current assets
  

Stocks
  
3,143,920
-

Debtors
 4 
825,063
3,668

Cash at bank and in hand
  
600,852
79,457

  
4,569,835
83,125

Creditors: amounts falling due within one year
 5 
(4,192,181)
(73,949)

Net current assets
  
 
 
377,654
 
 
9,176

Total assets less current liabilities
  
377,654
9,176

Net assets
  
377,654
9,176


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
377,554
9,076

  
377,654
9,176


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 comprehensive income 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 on 9 April 2025.

................................................
J F Stock
Director

The notes on pages 2 to 5 form part of these financial statements.
Page 1

 


SOUND SERVICE UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


Statutory information

Sound Services U.K. Limited is a private company, limited by shares, registered in England and Wales. 
The company's registered number and registered office address can be found on the Company Information page.

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

Going concern

The directors have considered the Company's future trading position for at least a period of 12 months from
the date that the accounts were released for approval and on this basis, have formed a reasonable expectation that the Company has adequate resources to continue operations for the foresseable future. For this reason, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

 
2.3

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 2

 


SOUND SERVICE UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
2.6

Taxation

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.


  
2.7

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. 
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

  
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 3

 


SOUND SERVICE UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 5).


4.


Debtors

 
2023
Unaudited
2022
£
£


Trade debtors
675,259
-

Other debtors
5,800
3,668

Prepayments and accrued income
144,004
-

825,063
3,668



5.


Creditors: Amounts falling due within one year

 
2023
Unaudited
2022
£
£

Trade creditors
190,315
67,318

Amounts owed to group undertakings
3,784,101
-

Corporation tax
114,456
2,690

Other taxation and social security
46,686
1,330

Other creditors
-
111

Accruals and deferred income
56,623
2,500

4,192,181
73,949



6.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
Unaudited
2022
£
£


Not later than 1 year
8,715
-

8,715
-

Page 4

 


SOUND SERVICE UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Subsequent Events

On 1 October 2024, the company acquired the assets and distribution rights from IMAG Electronics LTD T/A SCV Distribution LTD for a total consideration of £641,988. This event is considered a non-adjusting event as the conditions leading to the acquisition did not exist at the end of the reporting period.


8.


Controlling party

The ultimate parent company is considered to be Zoom Corpration, a company incorporated in Japan, by virtue of its controlling interest in Sound-Service Musikanlagen-Vertriebsgesellschaft mbH, the immediate parent. The principal place of business is 4-4-3 Kanda-surugadai, Chiyoda-ku, Tokyo, Japan. This is the smallest and largest level which accounts are consolidated.

9.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was qualified.

The qualification in the audit report was as follows:

We were not appointed as auditor of the company until after 31 December 2023 and thus did not observe the counting of physical inventories at the end of the year. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 December 2023, which are included in the balance sheet at £3,143,920 by using other audit procedures. Consequently we were unable to determine whether any adjustment to this amount was necessary.

The audit report was signed on 10 April 2025 by James Fox ACA FCCA (Senior statutory auditor) on behalf of Menzies LLP.

 
Page 5