ACCOUNTS - Final Accounts preparation

Registered number: 15919824

AIRSOUND LTD

UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

AIRSOUND LTD

REGISTERED NUMBER: 15919824

BALANCE SHEET

AS AT 31 MARCH 2025

		2025
Note		£

Fixed assets
Intangible assets	4		91,350
Tangible assets	5		4,579
			95,929
Current assets
Debtors: amounts falling due within one year	6	3,308
Cash at bank and in hand	7	34,702
		38,010
Creditors: amounts falling due within one year	8	(21,070)
Net current assets			16,940
Total assets less current liabilities			112,869
Creditors: amounts falling due after more than one year	9		(161,500)

Net (liabilities)/assets			(48,631)

Capital and reserves
Called up share capital	11	125
Share premium account		119,925
Profit and loss account		(168,681)
		(48,631)

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AIRSOUND LTD

REGISTERED NUMBER: 15919824

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

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

D J Fletcher

Director

Date: 21 October 2025

The notes on pages 3 to 8 form part of these financial statements.

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AIRSOUND LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

1.	General information

Airsound Limited (company number 15919824) is a private company limited by shares and incorporated in England and Wales. Its registered office is 1 Vincent Square, London, England, SW1P 2PN.
Airsound Ltd was incorporated on 27 August 2024.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

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AIRSOUND LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue 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 revenue 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.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

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AIRSOUND LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment

33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including the directors, during the period was as follows:

			31 March
			2025
			No.

		Directors	3

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AIRSOUND LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

4.	Intangible assets

		Intellectual Property
		£
	Cost
	Additions	101,500
	At 31 March 2025	101,500
	Amortisation
	Charge for the period on owned assets	10,150
	At 31 March 2025	10,150
	Net book value
	At 31 March 2025	91,350

5.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	Additions	5,418
	Disposals	(499)
	At 31 March 2025	4,919
	Depreciation
	Charge for the period on owned assets	368
	Disposals	(28)
	At 31 March 2025	340
	Net book value
	At 31 March 2025	4,579

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AIRSOUND LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

Debtors

					2025
					£


	Other debtors	3,308
		3,308

7.	Cash and cash equivalents
		2025
		£

	Cash at bank and in hand	34,702
		34,702

8.	Creditors: Amounts falling due within one year
		2025
		£

	Trade creditors	3,672
	Other taxation and social security	3,853
	Other creditors	11,045
	Accruals and deferred income	2,500
		21,070

9.	Creditors: Amounts falling due after more than one year
		2025
		£

	Other loans	60,000
	Other creditors	101,500
		161,500

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AIRSOUND LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

10.	Loans
	Analysis of the maturity of loans is given below:
		2025
		£


	Amounts falling due 1-2 years
	Other loans	60,000
		60,000


		60,000

11.	Share capital
		2025
		£

		Allotted, called up and fully paid

		125 Ordinary Shares shares of £1.00 each	125

50 (A) Ordinary Shares were issued to Mr D J F, 25 (A) Ordinary Shares were issued to Mr G E F, 25 (A) Ordinary Shares were issued to Mr J R P, 25 (A) Ordinary Shares were issued to Mr M K during the year at par value.

12.	Related party transactions
	As at the balance sheet date, the company owed £60,000 to the shareholders. No fixed repayment terms or interest has been agreed on this balance.

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