Media Sound Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03191639 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2019

for

Media Sound Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

D Cunningham

A Moulds

G W I Perkins

R T Organ

SECRETARY:

A Moulds

REGISTERED OFFICE:

14 St Marys Walk

Hailsham

East Sussex

BN27 1AF

REGISTERED NUMBER:

03191639 (England and Wales)

ACCOUNTANTS:

THL Accountancy LLP

303 Goring Road

Worthing

West Sussex

BN12 4NX

The following reproduces the text of the report prepared for the directors in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006,

the company is only required to file a Balance Sheet. Readers are cautioned that the Income

Statement and certain other primary statements and the Report of the Directors are not required

to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Media Sound Limited for the year ended 30 September 2019 which comprise the

Income Statement, Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Media Sound Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Media Sound Limited and state those matters that we have agreed to state to the Board of Directors of Media Sound Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Media Sound Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Media Sound Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Media Sound Limited. You consider that Media Sound Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Media Sound Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

THL Accountancy LLP

303 Goring Road

Worthing

West Sussex

BN12 4NX

17 March 2020

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

19,089

26,403

19,089

26,403

CURRENT ASSETS

Debtors

6

234,099

258,350

Cash at bank

7,289

9,105

241,388

267,455

CREDITORS

Amounts falling due within one year

7

199,706

178,466

NET CURRENT ASSETS

41,682

88,989

TOTAL ASSETS LESS CURRENT LIABILITIES

60,771

115,392

CAPITAL AND RESERVES

Called up share capital

231,045

231,045

Share premium

51,021

51,021

Capital redemption reserve

1,755

1,755

Retained earnings

(223,050

)

(168,429

)

SHAREHOLDERS' FUNDS

60,771

115,392

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 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 6 March 2020 and were signed on its behalf by:

A Moulds - Director

1.	STATUTORY INFORMATION

Media Sound 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at

cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

30% on reducing balance

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2018 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2018

and 30 September 2019

21,665

AMORTISATION

At 1 October 2018

and 30 September 2019

21,665

NET BOOK VALUE

At 30 September 2019

-

At 30 September 2018

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 October 2018

and 30 September 2019

92,607

32,666

75,529

200,802

DEPRECIATION

At 1 October 2018

88,762

30,443

55,194

174,399

Charge for year

769

445

6,100

7,314

At 30 September 2019

89,531

30,888

61,294

181,713

NET BOOK VALUE

At 30 September 2019

3,076

1,778

14,235

19,089

At 30 September 2018

3,845

2,223

20,335

26,403

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

41,050

82,225

Amounts owed by group undertakings

188,088

166,039

Other debtors

4,961

10,086

234,099

258,350

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

9,745

20,145

Amounts owed to group undertakings

160,874

120,738

Taxation and social security

14,589

25,526

Other creditors

14,498

12,057

199,706

178,466

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party and parent company was Media Sound Holdings Limited.