30 false false false false false false false false false false true false false false false false false No description of principal activity 2023-09-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 04021996 2023-09-01 2024-08-30 04021996 2024-08-30 04021996 2023-08-31 04021996 2022-09-01 2023-08-31 04021996 2023-08-31 04021996 2022-08-31 04021996 core:NetGoodwill 2023-09-01 2024-08-30 04021996 core:FurnitureFittings 2023-09-01 2024-08-30 04021996 bus:Director1 2023-09-01 2024-08-30 04021996 bus:Director3 2023-09-01 2024-08-30 04021996 core:NetGoodwill 2023-08-31 04021996 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-08-31 04021996 core:NetGoodwill 2024-08-30 04021996 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-08-30 04021996 core:LandBuildings 2023-08-31 04021996 core:FurnitureFittings 2023-08-31 04021996 core:LandBuildings 2024-08-30 04021996 core:FurnitureFittings 2024-08-30 04021996 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-01 2024-08-30 04021996 core:LandBuildings 2023-09-01 2024-08-30 04021996 core:WithinOneYear 2024-08-30 04021996 core:WithinOneYear 2023-08-31 04021996 core:ShareCapital 2024-08-30 04021996 core:ShareCapital 2023-08-31 04021996 core:RetainedEarningsAccumulatedLosses 2024-08-30 04021996 core:RetainedEarningsAccumulatedLosses 2023-08-31 04021996 core:BetweenOneFiveYears 2024-08-30 04021996 core:BetweenOneFiveYears 2023-08-31 04021996 core:MoreThanFiveYears 2024-08-30 04021996 core:MoreThanFiveYears 2023-08-31 04021996 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-08-31 04021996 core:LandBuildings 2023-08-31 04021996 core:FurnitureFittings 2023-08-31 04021996 bus:SmallEntities 2023-09-01 2024-08-30 04021996 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-30 04021996 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-30 04021996 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-30 04021996 bus:FullAccounts 2023-09-01 2024-08-30 04021996 core:LandBuildings core:LongLeaseholdAssets 2023-09-01 2024-08-30 04021996 core:ComputerEquipment 2023-09-01 2024-08-30 04021996 core:ComputerEquipment 2023-08-31 04021996 core:ComputerEquipment 2024-08-30
COMPANY REGISTRATION NUMBER: 04021996
SOUNDBLAST LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
30 August 2024
SOUNDBLAST LIMITED
STATEMENT OF FINANCIAL POSITION
30 August 2024
2024
2023
(restated)
Note
£
£
£
£
FIXED ASSETS
Intangible assets
5
18,264
19,788
Tangible assets
6
54,906
55,428
--------
--------
73,170
75,216
CURRENT ASSETS
Stocks
9,852
11,336
Debtors
7
44,007
42,188
Cash at bank and in hand
193,181
202,187
---------
---------
247,040
255,711
CREDITORS: amounts falling due within one year
8
( 64,206)
( 56,309)
---------
---------
NET CURRENT ASSETS
182,834
199,402
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
256,004
274,618
PROVISIONS
Taxation including deferred tax
( 2,320)
( 3,886)
---------
---------
NET ASSETS
253,684
270,732
---------
---------
CAPITAL AND RESERVES
Called up share capital
150
150
Profit and loss account
253,534
270,582
---------
---------
SHAREHOLDERS FUNDS
253,684
270,732
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 30 August 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 financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SOUNDBLAST LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 August 2024
These financial statements were approved by the board of directors and authorised for issue on 20 August 2025 , and are signed on behalf of the board by:
S. Allison
J. Morelli
Director
Director
Company registration number: 04021996
SOUNDBLAST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD ENDED 30 AUGUST 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Faversham, 1-5 Springfield Mount, Leeds, LS2 9NG.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20% straight line
Lease Premium
-
over the term of the lease
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold Improvements
-
over the term of the lease
Fixtures & Fittings
-
25% reducing balance
Computers
-
33% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are 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 in income in the period in which it becomes receivable.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. 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 profit and loss account before operating profit.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to 30 (2023: 25 ).
5. INTANGIBLE ASSETS
Goodwill
Lease Premium
Total
£
£
£
Cost
At 1 September 2023 (as restated)
27,500
54,694
82,194
Additions
Disposals
( 22,500)
( 22,500)
--------
--------
--------
At 30 August 2024
5,000
54,694
59,694
--------
--------
--------
Amortisation
At 1 September 2023
27,500
34,906
62,406
Charge for the period
1,524
1,524
Disposals
( 22,500)
( 22,500)
--------
--------
--------
At 30 August 2024
5,000
36,430
41,430
--------
--------
--------
Carrying amount
At 30 August 2024
18,264
18,264
--------
--------
--------
At 31 August 2023
19,788
19,788
--------
--------
--------
6. TANGIBLE ASSETS
Leasehold Property Improve -ments
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 September 2023 (as restated)
289,959
637,940
20,326
948,225
Additions
22,449
22,449
Disposals
( 213,502)
( 174,979)
( 388,481)
---------
---------
--------
---------
At 30 August 2024
76,457
485,410
20,326
582,193
---------
---------
--------
---------
Depreciation
At 1 September 2023
262,176
612,788
17,833
892,797
Charge for the period
2,124
9,201
831
12,156
Disposals
( 213,502)
( 164,164)
( 377,666)
---------
---------
--------
---------
At 30 August 2024
50,798
457,825
18,664
527,287
---------
---------
--------
---------
Carrying amount
At 30 August 2024
25,659
27,585
1,662
54,906
---------
---------
--------
---------
At 31 August 2023
27,783
25,152
2,493
55,428
---------
---------
--------
---------
7. DEBTORS
2024
2023
(restated)
£
£
Trade debtors
2,568
6,581
Other debtors
41,439
35,607
--------
--------
44,007
42,188
--------
--------
8. CREDITORS: amounts falling due within one year
2024
2023
(restated)
£
£
Trade creditors
41,551
25,417
Social security and other taxes
865
6,148
Other creditors
21,790
24,744
--------
--------
64,206
56,309
--------
--------
9. OPERATING LEASES
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
(restated)
£
£
Not later than 1 year
24,000
46,500
Later than 1 year and not later than 5 years
96,000
186,000
Later than 5 years
170,000
222,125
---------
---------
290,000
454,625
---------
---------