Registered number
06446968
Audio Electrical Limited
Report and Accounts
31 December 2024
Audio Electrical Limited
Report to the directors on the preparation of the unaudited statutory accounts of Audio Electrical Limited for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Audio Electrical Limited for the year ended 31 December 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
Coalesco Accountants Limited
Chartered Certified Accountants
156 Russell Drive
Wollaton
Nottingham
NG8 2BE
30 May 2025
Audio Electrical Limited
Registered number: 06446968
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1 401
Current assets
Stocks 18,538 16,602
Debtors 4 3,014 3,014
Cash at bank and in hand 176,804 186,830
198,356 206,446
Creditors: amounts falling due within one year 5 (44,987) (46,888)
Net current assets 153,369 159,558
Net assets 153,370 159,959
Capital and reserves
Called up share capital 2 2
Profit and loss account 153,368 159,957
Shareholders' funds 153,370 159,959
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Peel
Director
Approved by the board on 30 May 2025
Audio Electrical Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 3,299
At 31 December 2024 3,299
Depreciation
At 1 January 2024 2,898
Charge for the year 400
At 31 December 2024 3,298
Net book value
At 31 December 2024 1
At 31 December 2023 401
4 Debtors 2024 2023
£ £
Other debtors 3,014 3,014
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,252 7,652
Corporation tax 1,569 -
Other taxes and social security costs 11,598 10,527
Other creditors 30,568 28,709
44,987 46,888
6 Other information
Audio Electrical Limited is a private company limited by shares and incorporated in England. Its registered office is:
Hartley Business Centre
Hucknall Road
Sherwood
Nottingham
NG5 1FD
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