Company No: 08854951 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	I C S Baynes (Appointed 09 August 2024)
	L C Baynes (Appointed 09 August 2024)
	C G Fisher (Resigned 09 August 2024)
	J L Kenny
	H R Roper (Resigned 09 August 2024)

REGISTERED OFFICE	17 Brunel Way
	Segensworth East
	Fareham
	PO15 5TX
	United Kingdom

COMPANY NUMBER

08854951 (England and Wales)

ACCOUNTANT	S&W Partners LLP
	4th Floor Cumberland House
	15-17 Cumberland Place
	Southampton
	Hampshire
	SO15 2BG

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	3	0		5,594
Tangible assets	4	43,975		154,028
		43,975		159,622
Current assets
Stocks		15,010		22,637
Debtors	5	2,124,481		317,839
Cash at bank and in hand		305,260		1,951,232
		2,444,751		2,291,708
Creditors: amounts falling due within one year	6	( 394,501)		( 613,133)
Net current assets		2,050,250		1,678,575
Total assets less current liabilities		2,094,225		1,838,197
Net assets		2,094,225		1,838,197
Capital and reserves
Called-up share capital		100		100
Capital redemption reserve		415,267		415,267
Profit and loss account		1,678,858		1,422,830
Total shareholder's funds		2,094,225		1,838,197

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Hugh Symons Audio Visual Limited (registered number: 08854951) were approved and authorised for issue by the Board of Directors on 23 September 2025. They were signed on its behalf by:

L C Baynes Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Hugh Symons Audio Visual Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 17 Brunel Way, Segensworth East, Fareham, PO15 5TX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Hugh Symons Audio Visual Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Going concern

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

The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Turnover

Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually
associated with ownership nor effective control over the goods sold;
- the amount of turnover can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction;
and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

9 years straight line

Goodwill

Goodwill arises on a business combination and represents any excess of consideration given over fair value of the identifiable assets and liabilities acquired. It is written off on a straight line basis over its useful economic life of nine years, taking into account any provision for impairment.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	depreciated over the life of the lease
Vehicles	6 years straight line
Fixtures and fittings	5 years straight line
Computer equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	7		6

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 January 2024	150,000		150,000
At 31 December 2024	150,000		150,000
Accumulated amortisation
At 01 January 2024	144,406		144,406
Charge for the financial year	5,594		5,594
At 31 December 2024	150,000		150,000
Net book value
At 31 December 2024	0		0
At 31 December 2023	5,594		5,594

4. Tangible assets

	Leasehold improve- ments		Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 January 2024	77,237		171,721		37,049		28,490		314,497
Additions	0		0		0		924		924
Disposals	( 29,270)		( 102,985)		0		0		( 132,255)
At 31 December 2024	47,967		68,736		37,049		29,414		183,166
Accumulated depreciation
At 01 January 2024	60,901		35,822		37,049		26,697		160,469
Charge for the financial year	4,333		28,650		0		962		33,945
Disposals	( 17,960)		( 37,263)		0		0		( 55,223)
At 31 December 2024	47,274		27,209		37,049		27,659		139,191
Net book value
At 31 December 2024	693		41,527		0		1,755		43,975
At 31 December 2023	16,336		135,899		0		1,793		154,028

5. Debtors

	2024		2023
	£		£
Trade debtors	258,345		269,527
Amounts owed by Group undertakings	1,858,034		0
Prepayments	7,607		15,562
Deferred tax asset	0		15,998
Other debtors	495		16,752
	2,124,481		317,839

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	195,324		195,597
Accruals	85,143		262,061
Deferred tax liability	10,623		0
Taxation and social security	93,431		142,400
Other creditors	9,980		13,075
	394,501		613,133

The Company has a credit card facility with Royal Bank of Scotland plc. At the year end no balance was owing to RBS. This facility is secured against the assets of the Company. During the year, the fixed charge held by RBS has been satisfied.

7. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	15,998		10,530
(Charged)/credited to the Statement of Income and Retained Earnings	( 21,153)		5,468
Adjustment for change in discount rate	( 5,468)		0
At the end of financial year	( 10,623)		15,998

8. Related party transactions

During the year, the Company sold goods and services to Hugh Symons Information Management Limited, a company deemed to be a related party by virtue of being owned by a close family member of the owner of Hugh Symons Audio Visual Limited, to the value of £2,998 (2023 - £1,790).

Amounts purchased from Hugh Symons Information Management Limited during the year totaled £2,308 (2023 - £15,452). At the year end, £691 (2023 - £Nil) was owed by Hugh Symons Information Management Limited.

During the year, the Company sold goods and services to One Four The Road Limited, a company deemed to be a related party by virtue of being owned by a close family member of the owner of Hugh Symons Audio Visual Limited, to the value of £5,154 (2023 - £5,031).

At the year end £495 (2023 - £205) was owed by One For The Road Limited.

During the year, the Company sold goods and services to Alex Dickie, a individual deemed to be a related party by virtue of being a close family member, to the value of £Nil (2023 - £145). At the year end £Nil (2023 - £160) was owed by Alex Dickie.

Amounts purchased from Alex Dickie, during the year totaled £Nil (2023 - £Nil). During the year, the Company sold goods and services to Hugh Symons Exchange Ltd, a company deemed to be a related party by virtue of being owned by a close family member of the owner of Hugh Symons Audio Visual Limited, to the value of £10,537 (2023 - £10,537).

During the year, the Company sold goods and services to Hugh Symons Holdings Limited, a company deemed to be a related party by virtue of being owned by a close family member of the owner of Hugh Symons Audio Visual Limited, to the value of £2,618 (2023 - £Nil). Amounts purchased from Hugh Symons Holdings Limited during the year totaled £3,732 (2023 - £Nil). At the year end, £1,114 (2023 - £Nil) was owed by Hugh Symons Holdings Limited.