ACCOUNTS - Final Accounts preparation

Company Registration Number: SC583959

FYNE AUDIO SYSTEMS AND TECHNOLOGY LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FYNE AUDIO SYSTEMS AND TECHNOLOGY LIMITED

REGISTERED NUMBER: SC583959

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Investments	4		98,572		98,562
			98,572		98,562
Current assets
Debtors: amounts falling due after more than one year	5	1,390,801		1,392,194
		1,390,801		1,392,194
Creditors: amounts falling due within one year	6	(53,030)		(53,170)
Net current assets			1,337,771		1,339,024
Total assets less current liabilities			1,436,343		1,437,586

Net assets			1,436,343		1,437,586

Page 1

FYNE AUDIO SYSTEMS AND TECHNOLOGY LIMITED

REGISTERED NUMBER: SC583959

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Capital and reserves
Called up share capital	7	94,885	94,885
Share premium account		1,351,516	1,351,516
Profit and loss account		(10,058)	(8,815)
		1,436,343	1,437,586

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 year 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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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:

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

Andrzej Michael Sosna

Director

Date: 23 December 2025

The notes on pages 5 to 7 form part of these financial statements.

Page 2

FYNE AUDIO SYSTEMS AND TECHNOLOGY LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2025

	Called up share capital	Share premium account	Profit and loss account	Total equity
	£	£	£	£
At 1 April 2024	94,885	1,351,516	(8,815)	1,437,586
Comprehensive income for the year
Loss for the year	-	-	(1,243)	(1,243)
Other comprehensive income for the year	-	-	-	-
Total comprehensive income for the year	-	-	(1,243)	(1,243)
Total transactions with owners	-	-	-	-
At 31 March 2025	94,885	1,351,516	(10,058)	1,436,343

The notes on pages 5 to 7 form part of these financial statements.

Page 3

FYNE AUDIO SYSTEMS AND TECHNOLOGY LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2024

	Called up share capital	Share premium account	Profit and loss account	Total equity
	£	£	£	£
At 1 April 2023	94,885	1,351,516	(6,573)	1,439,828
Comprehensive income for the year
Loss for the year	-	-	(2,242)	(2,242)
Other comprehensive income for the year	-	-	-	-
Total comprehensive income for the year	-	-	(2,242)	(2,242)
Total transactions with owners	-	-	-	-
At 31 March 2024	94,885	1,351,516	(8,815)	1,437,586

The notes on pages 5 to 7 form part of these financial statements.

Page 4

FYNE AUDIO SYSTEMS AND TECHNOLOGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Fyne Audio Systems And Technology Limited is a private company, limited by shares, registered in Scotland. The address of the registered office is First Floor, 24 Blythswood Square, Glasgow, Scotland, G2 4BG. The address of the principal place of business is No. 1 Cubitt Court, Belgrave Street, Bellshill, North Lanarkshire, ML4 3NP. The company's registered number is SC583959.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

2.3

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.

2.4

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Employees

The average monthly number of employees, including directors, during the year was 6 (2024 - 6).

Page 5

FYNE AUDIO SYSTEMS AND TECHNOLOGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 April 2024	98,562
	Additions	10
	At 31 March 2025	98,572

5.	Debtors
		2025	2024
		£	£

Due after more than one year
Other debtors	1,390,801	1,392,194
	1,390,801	1,392,194

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Other creditors	51,679	51,669
Accruals and deferred income	1,351	1,501
	53,030	53,170

Page 6

FYNE AUDIO SYSTEMS AND TECHNOLOGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

7.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

94,885 (2024 - 94,885) Ordinary shares of £1.00 each	94,885	94,885

8.	Related party transactions
	As at 31 March 2025, a subsidiary company owed £1,390,800 (2024: £1,392,194) to Fyne Audio Systems And Technology Limited. As at 31 March 2025, a subsidiary company was owed £1 (2024: £1) by Fyne Audio Systems And Technology Limited.

Page 7