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Registered number: 09366044









KELSEY ACOUSTICS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2024

 
KELSEY ACOUSTICS LIMITED
REGISTERED NUMBER: 09366044

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
800

  
-
800

Current assets
  

Stocks
  
221,781
171,787

Debtors: amounts falling due within one year
 5 
200
200

Bank and cash balances
  
76,432
76,432

  
298,413
248,419

Creditors: amounts falling due within one year
 6 
(450,725)
(199,592)

Net current (liabilities)/assets
  
 
 
(152,312)
 
 
48,827

Total assets less current liabilities
  
(152,312)
49,627

  

Net (liabilities)/assets
  
(152,312)
49,627


Capital and reserves
  

Called up share capital 
 7 
200
200

Profit and loss account
  
(152,512)
49,427

  
(152,312)
49,627


Page 1

 
KELSEY ACOUSTICS LIMITED
REGISTERED NUMBER: 09366044
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2024

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 August 2025.




R A Stitcher
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
KELSEY ACOUSTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

Kelsey Acoustics Limited is a company limited by shares, incorporated in England and Wales. Its registered office is 38 Cromwell Road, Optikinetics, Luton, Bedfordshire, LU3 1DN.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of sale of equipment.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.


 
2.5

Intangible assets

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the profit and loss account over its useful economic life.
Intellectual property is stated at cost less amortisation. Amortisation is provided at rates calculated to write off the cost of intellectual property over its estimated economic life.

Page 3

 
KELSEY ACOUSTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

  
2.6

Functional and presentation currency

Items included in the financial statements of the Company are measured using the currency of the
primary economic environment in which the Company operates (the "functional currency").
The  functional  currency  of  the  Company  and  the  currency  in  which  the  financial  statements  are presented (the "presentational currency") is 'Pounds Sterling' (£) rounded to the nearest single unit of currency.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.10

Creditors

Short term creditors are measured at the transaction price.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4

 
KELSEY ACOUSTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

4.


Intangible assets




Intellectual property
Goodwill
Total

£
£
£



Cost


At 1 December 2023
6,000
2,000
8,000



At 30 November 2024

6,000
2,000
8,000



Amortisation


At 1 December 2023
5,400
1,800
7,200


Charge for the year on owned assets
600
200
800



At 30 November 2024

6,000
2,000
8,000



Net book value



At 30 November 2024
-
-
-



At 30 November 2023
600
200
800




5.


Debtors

2024
2022
£
£


Other debtors
200
200

200
200


Page 5

 
KELSEY ACOUSTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
449,825
186,147

Corporation tax
-
12,595

Accruals and deferred income
900
850

450,725
199,592



7.


Share capital

2024
2022
£
£
Allotted, called up and fully paid



180 (2023 - 180) Ordinary A shares of £1.00 each
180
180
20 (2023 - 20) Ordinary B shares of £1.00 each
20
20

200

200



8.


Related party transactions

The company is exempt from disclosing other related party transactions as they are with companies that are wholly owed within the group.


9.


Controlling party

The ultimate controlling party, and parent company, is Principle Capital Limited.

 
Page 6