REGISTERED NUMBER: 02674005 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Sounds (Wholesale) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M J Priest

SECRETARY:

M J Priest

REGISTERED OFFICE:

Unit 6

Appleby Glade Industrial Estate

Ryder Close

Swadlincote

Derbyshire

DE11 9EU

REGISTERED NUMBER:

02674005 (England and Wales)

ACCOUNTANTS:

Bourne & Co

Chartered Accountants

6 Lichfield Street

Burton-on-Trent

Staffordshire

DE14 3RD

FIXED ASSETS

Tangible assets

4

225

344

Investment property

5

250,000

250,000

250,225

250,344

CURRENT ASSETS

Stocks

20,000

14,000

Debtors

6

21,937

53,198

Cash at bank

217,087

188,643

259,024

255,841

CREDITORS

Amounts falling due within one year

7

411,708

391,714

NET CURRENT LIABILITIES

(152,684

)

(135,873

)

TOTAL ASSETS LESS CURRENT LIABILITIES

97,541

114,471

PROVISIONS FOR LIABILITIES

2,574

1,746

NET ASSETS

94,967

112,725

CAPITAL AND RESERVES

Called up share capital

9

100

100

Revaluation reserve

10,611

10,611

Retained earnings

84,256

102,014

SHAREHOLDERS' FUNDS

94,967

112,725

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

M J Priest - Director

1.	STATUTORY INFORMATION

Sounds (Wholesale) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at fair value of the consideration received or receivable, excluding value added tax.

Sale of goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Tangible fixed assets

Tangible fixed assets are included at cost less depreciation and impairment. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Website - Straight line over 3 years

Fixtures and fittings - 25% on cost

Motor vehicles - 25% on reducing balance

Equipment - 25% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks have been valued at the lower of cost and estimated selling price less costs to sell. Provision is made for obsolete and slow-moving stock where appropriate.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company currently operates a defined contribution pension scheme. Contributions payable for the year are charged in the profit and loss account.

Debtors and creditors

Short term debtors are measured at transaction price less any impairment. Any losses arising from impairment are recognised in profit or loss.

Short term creditors are measured at transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

21,819

DEPRECIATION

At 1 January 2024

21,475

Charge for year

119

At 31 December 2024

21,594

NET BOOK VALUE

At 31 December 2024

225

At 31 December 2023

344

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

250,000

NET BOOK VALUE

At 31 December 2024

250,000

At 31 December 2023

250,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2022

13,100

Cost

236,900

250,000

If investment property had not been revalued it would have been included at the following historical cost:

31.12.24

31.12.23

£

£

Cost

236,900

236,900

Investment property was valued on an open market basis on 31 December 2023 by the company director .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

18,055

49,189

Other debtors

3,882

4,009

21,937

53,198

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

319,083

317,079

Taxation and social security

78,109

62,075

Other creditors

14,516

12,560

411,708

391,714

8.	LEASING AGREEMENTS

At 31 December 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £nil (2023: £3,075).

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

100

Ordinary

£1

100

100