Registration number: SC800911

Subsect Audio Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6
Accountants' Report	7

Subsect Audio Ltd

Company Information

Directors

Mr Kenneth Peter Dargan Mrs Hayley Alice Dargan

Registered office

Unit 4B Gateway Business Park Beancross Road Grangemouth FK3 8WX

Accountants

EQ Accountants Ltd Unit 4B Gateway Business Park Beancross Road Grangemouth FK3 8WX

Subsect Audio Ltd

(Registration number: SC800911)
Balance Sheet as at 28 February 2025

	Note	2025 £
Fixed assets
Tangible assets	4	9,252
Current assets
Cash at bank and in hand		2,496
Creditors: Amounts falling due within one year	6	(26,003)
Net current liabilities		(23,507)
Total assets less current liabilities		(14,255)
Provisions for liabilities		(2,036)
Net liabilities		(16,291)
Capital and reserves
Called up share capital		100
Retained earnings		(16,391)
Shareholders' deficit		(16,291)

For the financial period ending 28 February 2025 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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 July 2025 and signed on its behalf by:
 

......................................... Mr Kenneth Peter Dargan Director

Subsect Audio Ltd

Notes to the Unaudited Financial Statements for the Period from 28 February 2024 to 28 February 2025

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

2	Accounting policies

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.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises 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.

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.

Subsect Audio Ltd

Notes to the Unaudited Financial Statements for the Period from 28 February 2024 to 28 February 2025

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
Plant and machinery	Reducing balance at 25%
Office equipment	Reducing balance at 25%

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.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3	Employees and Directors

The average number of persons employed by the company (including directors) during the period, was 2.

Subsect Audio Ltd

Notes to the Unaudited Financial Statements for the Period from 28 February 2024 to 28 February 2025

4	Tangible assets

	Plant and machinery £	Office equipment £	Total £
Cost or valuation
Additions	9,967	2,653	12,620
At 28 February 2025	9,967	2,653	12,620
Depreciation
Charge for the period	2,492	876	3,368
At 28 February 2025	2,492	876	3,368
Carrying amount
At 28 February 2025	7,475	1,777	9,252

5

Debtors

Current	2025 £
	-

6

Creditors

Creditors: amounts falling due within one year

	2025 £
Due within one year
Other creditors	26,003

7	Related party transactions

Creditors include the following amounts which are owed to individuals who were directors of the company during the year:

	28 February 2024 to 28 February 2025  £
Mr Kenneth Peter Dargan	12,342
Mrs Hayley Alice Dargan	12,342
	24,684

Subsect Audio Ltd

Notes to the Unaudited Financial Statements for the Period from 28 February 2024 to 28 February 2025

The maximum balance outstanding during the year amounted to £24,684.

The directors current accounts are repayable on demand.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Subsect Audio Ltd
for the Period Ended 28 February 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Subsect Audio Ltd for the period ended 28 February 2025 as set out on pages 2 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Subsect Audio Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Subsect Audio Ltd and state those matters that we have agreed to state to the Board of Directors of Subsect Audio Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Subsect Audio Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Subsect Audio Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Subsect Audio Ltd. You consider that Subsect Audio Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Subsect Audio Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

31 July 2025