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Registered number:
FOR THE YEAR ENDED 22 FEBRUARY 2025
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SSE AUDIO GROUP HOLDINGS LIMITED
COMPANY INFORMATION
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SSE AUDIO GROUP HOLDINGS LIMITED
CONTENTS
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SSE AUDIO GROUP HOLDINGS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 22 FEBRUARY 2025
The directors present their strategic report for the period 25 February 2024 to 22 February 2025.
The company operates as an intermediate holding company for a group of UK companies, of which one is trading and the remainder are dormant. The trading company operates as a provider of bespoke audio, lighting and video solutions to a wide range of end users, for both hire and installations.
The directors submit the audited accounts for the year ended 22 February 2025. The company has not generated any income or costs in the year, hence there is no result to declare.
The risks faced by the group are reviewed by the board on a regular basis and appropriate processes are put into place to monitor and mitigate them. In common with many businesses of this size the business environment continues to be challenging, with high competitiveness in the market and as a result there is always a pressure on prices. The nature of the group's products and services means that it is indirectly subject to consumer spending and the overall level of disposable income within the geographical markets in which it operates. The sales and installation side of the business is dependent upon general business levels of capital investment, which in turn is linked to non-essential consumer expenditure levels. To mitigate this risk the group has continued to invest in the products and services it provides to ensure these are at the top end of the market.
However, the directors recognise that the group, as any other business, is subject to risks and uncertainties that are beyond its control.
The group's operations expose it to a variety of financial risks that include the effect of credit risk and liquidity risk. The group has in place policies that seek to limit the adverse effects on the financial performance of the group by monitoring levels of liquidity and the related finance costs. The policies set by the board of directors are implemented by the group's finance department.
The group has implemented policies that require appropriate credit assessments on potential customers before sales are made so that relevant credit limits are set. The group also issues tailored terms and conditions to customers commensurate with the work being undertaken to ensure the risk exposure is minimised and accords with the limits set by the procedure. The amount of exposure to any individual counterparty is subject to constant review by the group's finance department.
The group actively maintains a mixture of cash balances and loan finance that is designed to ensure the group has sufficient available funds for operations and planned expansion. This is augmented by comprehensive stock control processes that identifies items for sale in order to ensure the stock remains up to date and relevant and the overall level of stock held, both for sale and hire, is appropriate to the expected level of business activity. The group is also at risk from interest rate fluctuations, however this is managed by ensuring either borrowings are on fixed terms and rates, or where rates are not fixed the levels of borrowing are taken over relatively short term periods so that exposure is limited. The overall objective of the board is to keep borrowings to an appropriate level commensurate with activities, but to ensure all borrowings are structured and relevant to the business need. Keeping a tight control on debtor and stock exposure addresses this risk.
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SSE AUDIO GROUP HOLDINGS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 22 FEBRUARY 2025
As the Company does not trade in itself, the Directors do not consider the Company to have any ongoing financial or non-financial key performance indicators. The Company for the foreseeable future will not actively trade. The Directors expect that the Company will only receive dividends from subsidiaries and issue dividends to its parent company in future periods.
This report was approved by the board on 28 November 2025 and signed on its behalf.
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SSE AUDIO GROUP HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 22 FEBRUARY 2025
The directors present their report and the financial statements for the year ended 22 February 2025.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors who served during the year were:
There have been no significant events affecting the Company since the period end.
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SSE AUDIO GROUP HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 22 FEBRUARY 2025
The auditor, MHA, previously traded through the legal entity MacIntyre Hudson LLP. In response to regulatory changes, MacIntyre Hudson LLP ceased to hold an audit registration with the engagement transitioning to MHA Audit Services LLP.
The auditor, MHA, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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SSE AUDIO GROUP HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SSE AUDIO GROUP HOLDINGS LIMITED
We have audited the financial statements of SSE Audio Group Holdings Limited (the 'Company') for the year ended 22 February 2025, which comprise the Profit and loss account, the Balance sheet, the Statement of changes in equity and the related notes, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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SSE AUDIO GROUP HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SSE AUDIO GROUP HOLDINGS LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
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SSE AUDIO GROUP HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SSE AUDIO GROUP HOLDINGS LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
∙Enquiry of management around actual and potential litigation and claims;
∙Enquiry of management to identify any instances of non-compliance with laws and regulations;
∙Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness;:
∙Reviewing accounting estimates for evidence of management bias; and:
∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Birmingham, United Kingdom
MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542)
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SSE AUDIO GROUP HOLDINGS LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 22 FEBRUARY 2025
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SSE AUDIO GROUP HOLDINGS LIMITED
REGISTERED NUMBER: 04168340
BALANCE SHEET
AS AT 22 FEBRUARY 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 11 to 17 form part of these financial statements.
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SSE AUDIO GROUP HOLDINGS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 22 FEBRUARY 2025
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SSE AUDIO GROUP HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 22 FEBRUARY 2025
SSE Audio Group Holdings Limited is a private company, limited by shares, registered in England. The company's registered number is 04168340 and the registered office is situated at Unit 1, Connexion ll, Blythe Gate, Solihull, B90 8DX.
2.Accounting policies
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.
In assessing the going concern assumption at the end of FY2025 (February 2025), available information about the future operations and financial condition of Solotech UK Corporation (i.e. FY2026 budget and future projections of UK parent company) were taken into consideration:
FY2025 results clearly positions Solotech UK Corporation as a key leader in both Live Productions and Systems Integrations segments. Based on the strong current financial condition of Solotech, the measures completed in FY2025 to ensure flexibility of liquidity and debt to support the next phase of growth, as well as the financial projections prepared by management, Management believes that its debt capacity and financing plans will provide sufficient liquidity and financial flexibility to maintain its strong financial position. Our current projections for revenue and profitability for the coming year and beyond, and in consideration of our understanding of our markets, give us confidence for the Company’s going concern assumption. The UK group is forecasting to be profitable but due to a group financing arrangement, is reliant on the parent entity for financial support. A letter of support has been provided which confirms continuing support for a period of at least 12 months from the point of signing the financial statements. On the basis of the above analysis, the Directors have concluded there is no material uncertainty that exists that may cast significant doubt on Solotech’s ability to continue as a going concern for a period of at least twelve months from the date when the financial statements were approved.
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SSE AUDIO GROUP HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 22 FEBRUARY 2025
2.Accounting policies (continued)
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Solotech UK Corporation Ltd as at 22 February 2025 and these financial statements may be obtained from One Eleven, Edmund Street, Birmingham, England, B3 2HJ.
The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.
The estimated useful lives range as follows:
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SSE AUDIO GROUP HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 22 FEBRUARY 2025
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SSE AUDIO GROUP HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 22 FEBRUARY 2025
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SSE AUDIO GROUP HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 22 FEBRUARY 2025
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SSE AUDIO GROUP HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 22 FEBRUARY 2025
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SSE AUDIO GROUP HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 22 FEBRUARY 2025
Share premium account
Capital redemption reserve
Profit and loss account
The company is a 100% wholly owned subsidiary of Solotech UK Corporation Ltd, a company registered in England (company number 11630840). Solotech UK Corporation Ltd is a wholly owned subsidiary of Groupe Solotech Inc, a company incorporated in Canada.
The parent undertaking of the smallest group that the company is part of for which consolidated accounts are prepared is Solotech UK Corporation Ltd. The parent undertaking of the largest group that the company is a part of for which consolidated financial statements are prepared is Group Solotech Inc and are available from its registered office at 5200, Rue Hochelaga, Montreal (Quebec), H13 1G3, Canada.
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