24 Acoustics Capital Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10615692 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

24 ACOUSTICS CAPITAL INVESTMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M R Peckham

Mr S J Gosling

REGISTERED OFFICE:

Unit 4 Brunel Buildings

Brunel Road

Newton Abbot

Devon

TQ12 4PB

REGISTERED NUMBER:

10615692 (England and Wales)

ACCOUNTANTS:

Marsland Nash Associates

Chartered Tax Advisers, Accountants

and Business Consultants

Unit 4 Brunel Buildings

Brunel Road

Newton Abbot

Devon

TQ12 4PB

BANKERS:

The Royal Bank of Scotland

Business Banking Direct

PO Box 4153

Hornchurch

Essex

RM12 4PS

FIXED ASSETS

Tangible assets

3

1,104,619

-

CURRENT ASSETS

Stocks

4

-

334,162

Debtors

5

8,568

-

Cash at bank

2,807

8,126

11,375

342,288

CREDITORS

Amounts falling due within one year

6

453,127

345,540

NET CURRENT LIABILITIES

(441,752

)

(3,252

)

TOTAL ASSETS LESS CURRENT LIABILITIES

662,867

(3,252

)

CREDITORS

Amounts falling due after more than one year

7

698,472

-

NET LIABILITIES

(35,605

)

(3,252

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(35,705

)

(3,352

)

SHAREHOLDERS' FUNDS

(35,605

)

(3,252

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 30 September 2019 and were signed on its behalf by:

Mr M R Peckham - Director

Mr S J Gosling - Director

1.	STATUTORY INFORMATION

24 Acoustics Capital Investments 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.

Turnover

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

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and

handling costs in bringing stocks to their present location and condition.

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.

Going concern

The company meets its day to day working capital requirements through a loan provided by

24 Acoustics Ltd, a company of which Mr Peckham and Mr Gosling are also Directors. The

company will continue to be supported in this way until such time as profits are made.

3.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

Additions

1,104,619

At 31 December 2018

1,104,619

NET BOOK VALUE

At 31 December 2018

1,104,619

4.

STOCKS

2018

2017

£

£

Work-in-progress

-

334,162

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

8,568

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

-

1,416

Social security and other taxes

-

3,601

Intercompany account

451,418

339,042

Accrued expenses

1,709

1,481

453,127

345,540

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans - 1-2 years

40,029

-

Bank loans more 5 yr by instal

658,443

-

698,472

-

2018

2017

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

658,443

-

8.	RELATED PARTY DISCLOSURES

At the year end the company owed to Acoustics Ltd, a company Mr Peckham and Mr

Gosling are also Directors, of an amount of £451,518 (2017:£339,142). The loan is unsecured,

interest free and repayable on demand.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is 24 Acoustics Ltd.

Registered Office: Unit 4, Brunel Buildings, Brunel Road, Newton Abbot, Devon, TQ12 4PB