Sound Interiors Limited 02761406 false 2023-07-01 2024-12-31 2024-12-31 The principal activity of the company is the installation of interiors walls and ceilings Digita Accounts Production Advanced 6.30.9574.0 true false 02761406 2023-07-01 2024-12-31 02761406 2024-12-31 02761406 core:OtherReservesSubtotal 2024-12-31 02761406 core:RetainedEarningsAccumulatedLosses 2024-12-31 02761406 core:ShareCapital 2024-12-31 02761406 core:CurrentFinancialInstruments 2024-12-31 02761406 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 02761406 core:FurnitureFittingsToolsEquipment 2024-12-31 02761406 core:MotorVehicles 2024-12-31 02761406 bus:SmallEntities 2023-07-01 2024-12-31 02761406 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-12-31 02761406 bus:FilletedAccounts 2023-07-01 2024-12-31 02761406 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-12-31 02761406 bus:RegisteredOffice 2023-07-01 2024-12-31 02761406 bus:Director5 2023-07-01 2024-12-31 02761406 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-12-31 02761406 core:FurnitureFittings 2023-07-01 2024-12-31 02761406 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-12-31 02761406 core:MotorCars 2023-07-01 2024-12-31 02761406 core:MotorVehicles 2023-07-01 2024-12-31 02761406 core:PlantMachinery 2023-07-01 2024-12-31 02761406 core:ParentEntities 2023-07-01 2024-12-31 02761406 1 2023-07-01 2024-12-31 02761406 countries:UnitedKingdom 2023-07-01 2024-12-31 02761406 2023-06-30 02761406 core:FurnitureFittingsToolsEquipment 2023-06-30 02761406 core:MotorVehicles 2023-06-30 02761406 2022-07-01 2023-06-30 02761406 2023-06-30 02761406 core:OtherReservesSubtotal 2023-06-30 02761406 core:RetainedEarningsAccumulatedLosses 2023-06-30 02761406 core:ShareCapital 2023-06-30 02761406 core:CurrentFinancialInstruments 2023-06-30 02761406 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 02761406 core:FurnitureFittingsToolsEquipment 2023-06-30 02761406 core:MotorVehicles 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 02761406

Sound Interiors Limited

Unaudited Filleted Financial Statements

for the Period from 1 July 2023 to 31 December 2024

 

Sound Interiors Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Sound Interiors Limited

(Registration number: 02761406)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

71,219

30,398

Current assets

 

Stocks

6

65,000

61,905

Debtors

7

4,020,965

4,106,499

Cash at bank and in hand

 

1,082,015

637,842

 

5,167,980

4,806,246

Creditors: Amounts falling due within one year

8

(1,203,820)

(1,412,693)

Net current assets

 

3,964,160

3,393,553

Total assets less current liabilities

 

4,035,379

3,423,951

Provisions for liabilities

(17,598)

(7,047)

Net assets

 

4,017,781

3,416,904

Capital and reserves

 

Called up share capital

875

875

Other reserves

125

125

Retained earnings

4,016,781

3,415,904

Shareholders' funds

 

4,017,781

3,416,904

For the financial period ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 May 2025 and signed on its behalf by:
 

.........................................

P Hather

Director

 

Sound Interiors Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2024

1

General information

The Company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
4 Levens Road
Newby Road Industrial Estate
Hazel Grove
Stockport
Cheshire
SK7 5DL

These financial statements were authorised for issue by the Board on 22 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover represents revenue due from the normal activities of the business to the extent that the company obtains a right to consideration in exchange for its performance of those activities, exclusive of value added tax.

Revenue recognised is measured by reference to the amounts likely to be chargeable to customers. The excess of turnover not invoiced over payments on account is reported as 'amounts recoverable on contracts' within debtors.

Government grants

Government grants which become receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the entity with no future related costs, are recognised as income in the period in which they become receivable.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 countries where the company operates and generates taxable income.

 

Sound Interiors Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2024

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% and 33% straight line basis

Fixtures and fittings

15% straight line basis

Motor vehicles

25% straight line basis

Stock and long term contracts

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

In the case of long term contracts, where the outcome of individual contracts can be estimated reliably and it is probable that the contract will be profitable, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting date. The stage of completion is assessed by reference to the proportion of work done relative to the total value of work under the contract. Provision is made for all known or expected losses on individual contracts in the year in which such losses are foreseen.

Leases

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Defined contribution pension obligation

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the period, was 20 (2023 - 19).

 

Sound Interiors Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2024

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

29,134

7,488

Profit/(loss) on disposal of tangible fixed assets

(1,100)

(2,750)

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

281,058

40,978

322,036

Additions

10,559

59,396

69,955

Disposals

-

(7,193)

(7,193)

At 31 December 2024

291,617

93,181

384,798

Depreciation

At 1 July 2023

271,668

19,970

291,638

Charge for the period

5,681

23,453

29,134

Eliminated on disposal

-

(7,193)

(7,193)

At 31 December 2024

277,349

36,230

313,579

Carrying amount

At 31 December 2024

14,268

56,951

71,219

At 30 June 2023

9,390

21,008

30,398

6

Stocks

2024
£

2023
£

Finished goods and goods for resale

65,000

61,905

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

122,650

328,254

Amounts owed by related parties

10

2,988,908

1,964,418

Prepayments

 

21,367

42,424

Other debtors

 

888,040

1,771,403

   

4,020,965

4,106,499

 

Sound Interiors Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

762,624

1,112,920

Taxation and social security

400,212

254,258

Accruals and deferred income

40,984

45,515

1,203,820

1,412,693

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £90,805 (2023 - £95,848).

10

Related party transactions

Directors and key management compensation

2024
£

2023
£

Salaries and other short term employee benefits

352,137

29,502

 

Sound Interiors Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2024

Summary of transactions with parent

The company has taken advantage of the exemption in section 33 of FRS 102 'Related Party Disclosures' from disclosing transactions with other members of the group in which any subsidiary which is a party to the transaction is wholly owned by the group.
 

11

Parent and ultimate parent undertaking

The company's immediate parent is Sound Interiors Holdings Limited and the ultimate parent is Sound Interiors Group Limited.
All companies are incorporated in the United Kingdom and have the same registered office.
The ultimate controlling party is the directors, who own 100% of the share capital in Sound Interiors Group Limited.