Audition London Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Audition London Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13243975 . The registered office is 25 Alderbank Road, Great Sankey, Warrington, Cheshire, WA5 3DW.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% Straight line
Fixtures & Fittings	25% Straight line
Computer Equipment	25% Straight line

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Financial Instruments

The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other

Financial Instruments Issues" of FRS 102 to all of it's financial instruments.

Financial instruments are recognised in the company's balance sheet when to company becomes party to the

contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented to the financial statements, when there is a

legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or to realise

the asset and settle the liability simultaneouly.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, bank loans, laons from fellow group

companies and preference shares are initially measured at transaction price including transaction costs and are

subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a

financing transaction, where the transaction is measured at the present value of the future receipts discounted at a

market rate of interest. Financial assets classified as receiveable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

...CONTINUED

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Audition London Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Financial Instruments - continued

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that

are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing

transaction, where the debt instrument is measured at the present value of the future payments discounted at a

market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business

from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not

they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and

subsequently measured at amortised cost using the effective interest method.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 6 (2024: 6)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2024	12,933

As at 31 March 2025	12,933

Amortisation
As at 1 April 2024	-
Impairment losses	12,933

As at 31 March 2025	12,933

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	12,933

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Audition London Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

5. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 April 2024	449	692	3,909	5,050
Additions	302	-	-	302

As at 31 March 2025	751	692	3,909	5,352

Depreciation
As at 1 April 2024	168	488	2,764	3,420
Provided during the period	188	173	977	1,338

As at 31 March 2025	356	661	3,741	4,758

Net Book Value
As at 31 March 2025	395	31	168	594

As at 1 April 2024	281	204	1,145	1,630

6. Stocks

	2025	2024
	£	£
Stocks	116,512	53,871

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	646	7,133
Other debtors	23,152	76,500

	23,798	83,633

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	89,911	51,434
Other creditors	2,838	20,108
Taxation and social security	22,094	14,358

	114,843	85,900

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Other creditors	63,883	63,143
Taxation and social security	1,468	11,249

	65,351	74,392

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Audition London Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		-		12,933
Tangible Assets	5		594		1,630

			594		14,563
CURRENT ASSETS
Stocks	6	116,512		53,871
Debtors	7	23,798		83,633
Cash at bank and in hand		94,015		64,076

		234,325		201,580
Creditors: Amounts Falling Due Within One Year	8	(114,843 )		(85,900 )

NET CURRENT ASSETS (LIABILITIES)			119,482		115,680

TOTAL ASSETS LESS CURRENT LIABILITIES			120,076		130,243

Creditors: Amounts Falling Due After More Than One Year	9		(65,351 )		(74,392 )

NET ASSETS			54,725		55,851

CAPITAL AND RESERVES
Called up share capital	10		2		2
Profit and Loss Account			54,723		55,849

SHAREHOLDERS' FUNDS			54,725		55,851