Audiotek Ltd
Audiotek Ltd
Registered number: 09882680
Financial Statements
For the Period 1 December 2017 to 31 March 2019
Sloane & Co. LLP
Chartered Certified Accountants & Business Advisors
36-38 Westbourne Grove
Newton Road
London
W2 5SH
Audiotek Ltd
Financial Statements
For the Period 1 December 2017 to 31 March 2019
Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Audiotek Ltd
Balance Sheet
As at
31 March 2019
Balance Sheet
Registered number:
09882680
For the period ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 31 March 2019 | 30 November 2017 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
|
|
||
|
|
|
||||
| CURRENT ASSETS | |||||
| Debtors | 4 |
|
|
||
| Cash at bank and in hand |
|
|
|||
|
|
|
||||
| Creditors: Amounts Falling Due Within One Year | 5 |
( |
( |
||
| NET CURRENT ASSETS (LIABILITIES) |
( |
( |
|||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
|
|||
| NET ASSETS |
( |
|
|||
| CAPITAL AND RESERVES | |||||
| Called up share capital | 6 |
|
|
||
| Profit and Loss Account |
( |
|
|||
| SHAREHOLDERS' FUNDS | (148,704) | 112 | |||
Page 1
Audiotek Ltd
Balance Sheet (continued)
As at
31 March 2019
Directors' responsibilities:
-
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
|
|
|
|
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Audiotek Ltd
Notes to the Financial Statements
For the Period 1 December 2017 to 31 March 2019
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
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.
1.3.
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:
| Motor Vehicles |
|
| Fixtures & Fittings |
|
1.4.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 03
Page 3
Audiotek Ltd
Notes to the Financial Statements (continued)
For the Period 1 December 2017 to 31 March 2019
3.
Tangible Assets
| Motor Vehicles | Fixtures & Fittings | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at |
|
|
|
| Additions |
|
|
|
| As at |
|
|
|
| Depreciation | |||
| As at |
|
|
|
| Provided during the period |
|
|
|
| As at |
|
|
|
| Net Book Value | |||
| As at |
|
|
|
| As at |
|
|
|
4.
Debtors
| 31 March 2019 | 30 November 2017 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Prepayments and accrued income |
|
|
|
| Rent deposit |
|
|
|
| Directors' loan accounts | 4,341 | 35,102 | |
|
|
|
||
Page 4
Audiotek Ltd
Notes to the Financial Statements (continued)
For the Period 1 December 2017 to 31 March 2019
5.
Creditors: Amounts Falling Due Within One Year
| 31 March 2019 | 30 November 2017 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
| Corporation tax |
|
|
|
| Other taxes and social security |
|
|
|
| VAT |
|
|
|
| Pension fund |
|
|
|
| Accruals and deferred income |
|
|
|
| Directors' loan accounts | - |
|
|
|
|
|
||
7.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
The above loan is unsecured, interest free and repayable on demand.
8.
General Information
Audiotek Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09882680 . The registered office is 36-38 Westbourne Grove, Newton Road, London, W2 5SH.
Page 5