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REGISTERED NUMBER: 05186126 (England and Wales)












AUDIOWORKS (NORTH WEST) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025






AUDIOWORKS (NORTH WEST) LIMITED (REGISTERED NUMBER: 05186126)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AUDIOWORKS (NORTH WEST) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2025







Directors: Mrs M M Hodgson
Mr J Hudspeth



Secretary: Mr B T Hudspeth



Registered office: Unit 2a Bentham Business Park
Bentham
LANCASTER
LA2 7NB



Business address: Unit 2A
Bentham Business Park
Bentham
LANCASTER
LA2 7NB



Registered number: 05186126 (England and Wales)



Accountants: Xeinadin
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD



Bankers: HSBC Bank plc
Market Place
SETTLE
North Yorkshire
BD24 9EN

AUDIOWORKS (NORTH WEST) LIMITED (REGISTERED NUMBER: 05186126)

BALANCE SHEET
28 FEBRUARY 2025

2025 2024
Notes £    £    £   
Fixed assets
Tangible assets 4 39,838 33,806

Current assets
Stocks 30,057 51,562
Debtors 5 128,880 156,155
Prepayments and accrued income 4,326 3,752
Cash at bank and in hand 33,973 63,396
197,236 274,865
Creditors
Amounts falling due within one year 6 126,668 177,920
Net current assets 70,568 96,945
Total assets less current liabilities 110,406 130,751

Provisions for liabilities (7,569 ) (8,452 )

Accruals and deferred income (1,234 ) (7,246 )
Net assets 101,603 115,053

Capital and reserves
Called up share capital 20 20
Retained earnings 101,583 115,033
101,603 115,053

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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.

AUDIOWORKS (NORTH WEST) LIMITED (REGISTERED NUMBER: 05186126)

BALANCE SHEET - continued
28 FEBRUARY 2025


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 May 2025 and were signed on its behalf by:





Mrs M M Hodgson - Director


AUDIOWORKS (NORTH WEST) LIMITED (REGISTERED NUMBER: 05186126)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025


1. Statutory information

Audioworks (North West) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 is measured at the fair value of the consideration received or receivable and represents amounts receivable, for goods and services provided in the normal course of business, net of discounts, rebates, value added tax and other sales taxes.

Turnover is recognised at a point in time when a performance obligation is satisfied by transferring a good or service to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 20% Reducing balance, Straight line over 4 years and Straight line over 3 years

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


AUDIOWORKS (NORTH WEST) LIMITED (REGISTERED NUMBER: 05186126)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025


2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 9 (2024 - 8 ) .

4. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
At 1 March 2024 136,671
Additions 33,025
Disposals (70,786 )
At 28 February 2025 98,910
Depreciation
At 1 March 2024 102,865
Charge for year 9,126
Eliminated on disposal (52,919 )
At 28 February 2025 59,072
Net book value
At 28 February 2025 39,838
At 29 February 2024 33,806

5. Debtors: amounts falling due within one year
2025 2024
£    £   
Trade debtors 128,880 156,155

AUDIOWORKS (NORTH WEST) LIMITED (REGISTERED NUMBER: 05186126)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025


6. Creditors: amounts falling due within one year
2025 2024
£    £   
Trade creditors 54,052 15,794
Taxation and social security 18,834 54,410
Other creditors 53,782 107,716
126,668 177,920