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REGISTERED NUMBER: 10849645 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

SONOS EXPERIENCE LIMITED

SONOS EXPERIENCE LIMITED (REGISTERED NUMBER: 10849645)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 September 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


SONOS EXPERIENCE LIMITED

COMPANY INFORMATION
for the year ended 30 September 2024







DIRECTORS: E P Lazarus
C S Mason



REGISTERED OFFICE: 6th Floor One
London Wall
London
EC2Y 5EB



REGISTERED NUMBER: 10849645 (England and Wales)



SENIOR STATUTORY AUDITOR: Gregg Olner MPhil BA (Hons) FCA



AUDITORS: HB&O Ltd
Chartered Accountants and Statutory Auditor
Highdown House
11 Highdown Road
Leamington Spa
Warwickshire
CV31 1XT

SONOS EXPERIENCE LIMITED (REGISTERED NUMBER: 10849645)

ABRIDGED BALANCE SHEET
30 September 2024

2024 2023
Notes €    €    €   
FIXED ASSETS
Tangible assets 4 143,655 159,951

CURRENT ASSETS
Debtors 398,271 514,315
Cash at bank 434,160 342,701
832,431 857,016
CREDITORS
Amounts falling due within one year 404,950 595,683
NET CURRENT ASSETS 427,481 261,333
TOTAL ASSETS LESS CURRENT
LIABILITIES

571,136

421,284

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 571,135 421,283
571,136 421,284

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 9 June 2025 and were signed on its behalf by:





E P Lazarus - Director


SONOS EXPERIENCE LIMITED (REGISTERED NUMBER: 10849645)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 September 2024

1. STATUTORY INFORMATION

Sonos Experience 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

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.

The financial statements are presented in Euro (€).

The principal accounting policies adopted in the preparation of the financial statements are set out below.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover comprises the value of sales (net of value added tax) of services provided in the normal course of business. Revenue is recognised in respect of service contracts when the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to properties - over the lease term
Furniture and equipment - Straight line over 5 years
Computer equipment - Straight line over 3 years

Financial instruments
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


SONOS EXPERIENCE LIMITED (REGISTERED NUMBER: 10849645)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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

The rate used at 30 September 2024 was 1:1.2020 (2023 - 1:1.1528).

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.

Operating lease commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 17 ) .

4. TANGIBLE FIXED ASSETS
Totals
€   
COST
At 1 October 2023 210,280
Additions 108,090
At 30 September 2024 318,370
DEPRECIATION
At 1 October 2023 50,329
Charge for year 124,386
At 30 September 2024 174,715
NET BOOK VALUE
At 30 September 2024 143,655
At 30 September 2023 159,951

SONOS EXPERIENCE LIMITED (REGISTERED NUMBER: 10849645)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024

5. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
€    €   
Within one year 136,236 97,834

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Gregg Olner MPhil BA (Hons) FCA (Senior Statutory Auditor)
for and on behalf of HB&O Ltd

7. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company and amounted to €83,382 (2023 - €67,628).

Included within creditors is a balance due to pension providers of €Nil (2023 - €13,544) representing contributions owed to the funds.

8. RELATED PARTY DISCLOSURES

The directors are considered to be key management of the company. Their compensation is borne by a fellow group entity, with none recognised in these financial statements.

9. ULTIMATE CONTROLLING PARTY

The immediate parent company is Sonos Europe BV, a company incorporated in the Netherlands.

Sonos Inc (incorporated in the USA) is regarded by the directors as being the company's ultimate parent company. The group accounts are available to the public from:

301 Coromar Drive
Santa Barbara
CA 93117

SONOS EXPERIENCE LIMITED (REGISTERED NUMBER: 10849645)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024

10. SHARE-BASED PAYMENT TRANSACTIONS

The ultimate parent company Sonos Inc, administers an Approved Share Option and Restricted Stock Unit Scheme for employees of group companies as part of its long-term incentive compensation programme. Under the plan the ultimate parent company has issued stock options and restricted stock units to employees of the company.

Under the scheme the exercise price is equivalent to the market price or, in the case of options, the grant price. The options and restricted stock units have a vesting period of four years from the initial grant date and are settled by the transfer of equity instruments.

The costs relating to the plan are allocated to Sonos Inc in order to match relevant expenditure and liabilities. In 2024 Sonos Inc has recharged €486,089 (2023 - €354,961) of the plan costs to Sonos Experience Limited, being a reasonable allocation of the expense to the group.

The number of share options and restricted stock units as transacted during the year are outlined below:

Outstanding
b/fwd

Granted

Forfeited

Exercised

Other
Outstanding
c/fwd

Exercisable

49,94867,819(14,767)(29,317)52174,204Nil

The weighted average exercise prices of share options and restricted stock units is as below:

Outstanding b/fwdOutstanding c/fwd

$10.64$14.12