Anthony Gallo Acoustics Ltd

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 9

Anthony Gallo Acoustics Ltd

Balance Sheet

31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	6,238	6,503
Tangible assets	5	21,376	22,753
		27,614	29,256
Current assets
Stocks	6	671,499	640,779
Debtors	7	399,504	300,651
Cash at bank and in hand		278,271	27,780
		1,349,274	969,210
Creditors: Amounts falling due within one year	8	(249,268)	(115,817)
Net current assets		1,100,006	853,393
Total assets less current liabilities		1,127,620	882,649
Provisions for liabilities		(5,344)	(5,688)
Net assets		1,122,276	876,961
Capital and reserves
Called up share capital		100	100
Profit and loss account		1,122,176	876,861
Shareholders' funds		1,122,276	876,961

Anthony Gallo Acoustics Ltd

Balance Sheet

31 December 2024

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 members have not required the company to obtain an audit of its accounts for the year 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 29 September 2025 and signed on its behalf by:
 

......................................... Mr M B Hornung Director

Company Registration Number: SC538472

Anthony Gallo Acoustics Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

1	General information

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

The address of its registered office is:
The Inox Building
Caldwellside
Lanark
Lanarkshire
ML11 7SR
United Kingdom

These financial statements were authorised for issue by the Board on 29 September 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Summary of disclosure exemptions

The company has taken advantage of the exemptions available under FRS102 Section 1A not to disclose transactions with related parties performed under normal market conditions..

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 value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

Anthony Gallo Acoustics Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

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

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 corporation 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 on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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.

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	Straight line over 10 years
Furniture, fittings and equipment	Straight line over 4 years

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Anthony Gallo Acoustics Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Trademark, patents and licences	Straight line over 20 years

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the average cost (AVCO) 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 stocks 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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 defined contribution plans 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.

Anthony Gallo Acoustics Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 7).

Anthony Gallo Acoustics Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

4	Intangible assets

	Trademarks, patents and licences  £	Total £
Cost or valuation
At 1 January 2024	13,588	13,588
At 31 December 2024	13,588	13,588
Amortisation
At 1 January 2024	7,085	7,085
Amortisation charge	265	265
At 31 December 2024	7,350	7,350
Carrying amount
At 31 December 2024	6,238	6,238
At 31 December 2023	6,503	6,503

5	Tangible assets

	Furniture, fittings and equipment  £	Plant and machinery £	Total £
Cost or valuation
At 1 January 2024	6,960	86,791	93,751
Additions	3,155	-	3,155
At 31 December 2024	10,115	86,791	96,906
Depreciation
At 1 January 2024	4,398	66,600	70,998
Charge for the year	1,121	3,411	4,532
At 31 December 2024	5,519	70,011	75,530
Carrying amount
At 31 December 2024	4,596	16,780	21,376
At 31 December 2023	2,562	20,191	22,753

Anthony Gallo Acoustics Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

6

Stocks

	2024 £	2023 £
Raw materials and consumables	89,102	64,589
Finished goods and goods for resale	582,397	576,190
	671,499	640,779

7

Debtors

	Note	2024 £	2023 £
Trade debtors		136,638	15,170
Amounts owed by group undertakings		203,684	7,417
Prepayments		27,357	79,132
Other debtors		31,825	198,932
		399,504	300,651

Anthony Gallo Acoustics Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

8

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Trade creditors		111,914	70,435
Amounts owed to group undertakings and undertakings in which the company has a participating interest		57,000	-
Taxation and social security		37,082	13,780
Accruals and deferred income		31,462	12,779
Other creditors		11,810	18,823
		249,268	115,817

9	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2024 £	2023 £
Not later than one year	53,272	33,489
Later than one year and not later than five years	53,018	29,562
	106,290	63,051

The amount of non-cancellable operating lease payments recognised as an expense during the year was £48,637 (2023 - £31,270).

10	Parent and ultimate parent undertaking

In April 2024 100% of the share capital of the company was acquired by Lumavox Ltd. The ultimate controlling party is now Suflex Limited.

 The company's immediate parent is Lumavox Ltd, incorporated in England and Wales.

 The ultimate parent is Suflex Limited, incorporated in England and Wales.