3 3 Applause AV Limited 07123581 false 2023-09-01 2024-03-31 2024-03-31 The principal activity of the company is provision of computer consultancy, hire of commercial sound systems and sale of horse feed. Digita Accounts Production Advanced 6.30.9574.0 true true 07123581 2023-09-01 2024-03-31 07123581 2024-03-31 07123581 bus:Director3 1 2024-03-31 07123581 bus:OrdinaryShareClass1 2024-03-31 07123581 bus:OrdinaryShareClass2 2024-03-31 07123581 bus:OrdinaryShareClass3 2024-03-31 07123581 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 07123581 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-31 07123581 core:CurrentFinancialInstruments 2024-03-31 07123581 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 07123581 core:Non-currentFinancialInstruments 2024-03-31 07123581 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 07123581 core:FurnitureFittingsToolsEquipment 2024-03-31 07123581 core:LandBuildings 2024-03-31 07123581 core:MotorVehicles 2024-03-31 07123581 core:OtherPropertyPlantEquipment 2024-03-31 07123581 bus:SmallEntities 2023-09-01 2024-03-31 07123581 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-03-31 07123581 bus:FullAccounts 2023-09-01 2024-03-31 07123581 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-03-31 07123581 bus:RegisteredOffice 2023-09-01 2024-03-31 07123581 bus:Director3 2023-09-01 2024-03-31 07123581 bus:Director3 1 2023-09-01 2024-03-31 07123581 bus:OrdinaryShareClass1 2023-09-01 2024-03-31 07123581 bus:OrdinaryShareClass2 2023-09-01 2024-03-31 07123581 bus:OrdinaryShareClass3 2023-09-01 2024-03-31 07123581 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-03-31 07123581 core:ComputerEquipment 2023-09-01 2024-03-31 07123581 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-03-31 07123581 core:LandBuildings 2023-09-01 2024-03-31 07123581 core:MotorVehicles 2023-09-01 2024-03-31 07123581 core:OtherPropertyPlantEquipment 2023-09-01 2024-03-31 07123581 core:PlantMachinery 2023-09-01 2024-03-31 07123581 core:OtherRelatedPartyRelationshipType1ComponentTotalRelatedParties 2023-09-01 2024-03-31 07123581 countries:EnglandWales 2023-09-01 2024-03-31 07123581 2023-08-31 07123581 bus:Director3 1 2023-08-31 07123581 core:FurnitureFittingsToolsEquipment 2023-08-31 07123581 core:LandBuildings 2023-08-31 07123581 core:MotorVehicles 2023-08-31 07123581 core:OtherPropertyPlantEquipment 2023-08-31 07123581 2022-09-01 2023-08-31 07123581 2023-08-31 07123581 bus:OrdinaryShareClass1 2023-08-31 07123581 bus:OrdinaryShareClass2 2023-08-31 07123581 bus:OrdinaryShareClass3 2023-08-31 07123581 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-08-31 07123581 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-08-31 07123581 core:CurrentFinancialInstruments 2023-08-31 07123581 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 07123581 core:Non-currentFinancialInstruments 2023-08-31 07123581 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 07123581 core:FurnitureFittingsToolsEquipment 2023-08-31 07123581 core:LandBuildings 2023-08-31 07123581 core:MotorVehicles 2023-08-31 07123581 core:OtherPropertyPlantEquipment 2023-08-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 07123581

Applause AV Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 September 2023 to 31 March 2024

 

Applause AV Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Applause AV Limited

(Registration number: 07123581)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

62,874

63,041

Current assets

 

Stocks

5

3,000

5,650

Debtors

6

146,123

124,288

Cash at bank and in hand

 

979

1,001

 

150,102

130,939

Creditors: Amounts falling due within one year

7

(108,737)

(118,204)

Net current assets

 

41,365

12,735

Total assets less current liabilities

 

104,239

75,776

Creditors: Amounts falling due after more than one year

7

(47,900)

(59,721)

Provisions for liabilities

(10,129)

(9,980)

Net assets

 

46,210

6,075

Capital and reserves

 

Called up share capital

8

200

200

Retained earnings

46,010

5,875

Shareholders' funds

 

46,210

6,075

For the financial period ending 31 March 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.

 

Applause AV Limited

(Registration number: 07123581)
Balance Sheet as at 31 March 2024

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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account and directors' report have not been delivered in accordance with the special provisions applicable to companies subject to the small companies regime.

Approved and authorised by the Board on 27 August 2025 and signed on its behalf by:
 

.........................................
Mr C S Hughes
Director

 

Applause AV Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2023 to 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Stepping Stones
Forest Becks Brow
Wigglesworth
Skipton
North Yorkshire
BD23 4SN
England

These financial statements were authorised for issue by the Board on 27 August 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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

The financial statements are presented in Sterling, which is the functional currency of the company and are rounded to the nearest pound.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

The company has received a revenue grant in the form of the Job Retention Scheme in respect of furloughed staff. Revenue grants are credited to the profit and loss account so as to match them with the expenditure to which they relate.

 

Applause AV Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2023 to 31 March 2024

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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 charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

5% on reducing balance

Plant and machinery

15% on reducing balance

Motor vehicles

25% on reducing balance

Computer equipment

33% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Applause AV Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2023 to 31 March 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Applause AV Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2023 to 31 March 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to the defined pland are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3 (2023 - 3).

4

Tangible assets

Freehold property
£

Computer equipment
£

Motor vehicles
 £

Plant and machinery
£

Cost or valuation

At 1 September 2023

34,675

10,331

66,945

22,467

Additions

-

-

4,375

2,942

At 31 March 2024

34,675

10,331

71,320

25,409

Depreciation

At 1 September 2023

12,772

8,799

32,585

17,221

Charge for the period

639

705

5,558

582

At 31 March 2024

13,411

9,504

38,143

17,803

Carrying amount

At 31 March 2024

21,264

827

33,177

7,606

At 31 August 2023

21,903

1,532

34,360

5,246

 

Applause AV Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2023 to 31 March 2024

Total
£

Cost or valuation

At 1 September 2023

134,418

Additions

7,317

At 31 March 2024

141,735

Depreciation

At 1 September 2023

71,377

Charge for the period

7,484

At 31 March 2024

78,861

Carrying amount

At 31 March 2024

62,874

At 31 August 2023

63,041

Assets held under hire purchase and finance lease contracts

Included within the net book value of tangible fixed assets is £27,453 (2023- £32,140) in respect of assets held under hire purchase contracts. Depreciation for the period on these assets was £4,687 (2023 - £10,713).

5

Stocks

2024
£

2023
£

Other inventories

3,000

5,650

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

22,078

22,739

Amounts owed by related parties

10

104,781

101,538

Other debtors

 

19,264

11

   

146,123

124,288

 

Applause AV Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2023 to 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

24,847

28,253

Trade creditors

 

17,794

20,111

Taxation and social security

 

36,684

32,826

Accruals and deferred income

 

2,000

2,000

Other creditors

 

27,412

35,014

 

108,737

118,204

Creditors include bank loans and overdrafts and net obligations under hire purchase contracts which are secured of £24,847 (2023 - £28,253).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

47,900

59,721

Creditors include bank loans and and net obligations under hire purchase contracts which are secured of £47,900 (2023 - £59,721)

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share class A of £1 each

50

50

50

50

Ordinary share class C of £1 each

100

100

100

100

Ordinary share class B of £1 each

50

50

50

50

200

200

200

200

 

Applause AV Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2023 to 31 March 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

23,235

31,575

Hire purchase contracts

24,665

28,146

47,900

59,721

Current loans and borrowings

2024
£

2023
£

Bank borrowings

13,924

13,419

Bank overdrafts

5,517

10,216

Hire purchase contracts

5,406

4,618

24,847

28,253

10

Related party transactions

Transactions with directors

2024

At 1 September 2023
£

Advances to director
£

At 31 March 2024
£

Mr C S Hughes

The loan is interest free and repayable on demand.

-

18,461

18,461

Summary of transactions with other related parties

Simple System (Yorkshire Dales) Limited is a company wholly owned by the directors.

At the financial period end Simple System (Yorkshire Dales) Limited owed £104,781 (2023 - £101,538) to Applause AV Limited. The loan is interest free and repayable on demand.