Definitive Audio Ltd - Accounts to registrar (filleted) - small 18.2

Definitive Audio Ltd - Accounts to registrar (filleted) - small 18.2

DEFINITIVE AUDIO LTD - Company Information

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IRIS Accounts Production v20.1.0.635 04857334 Board of Directors 1.10.18 30.9.19 30.9.19 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure048573342018-09-30048573342019-09-30048573342018-10-012019-09-30048573342017-09-30048573342017-10-012018-09-30048573342018-09-3004857334ns15:EnglandWales2018-10-012019-09-3004857334ns14:PoundSterling2018-10-012019-09-3004857334ns10:Director12018-10-012019-09-3004857334ns10:PrivateLimitedCompanyLtd2018-10-012019-09-3004857334ns10:SmallEntities2018-10-012019-09-3004857334ns10:AuditExempt-NoAccountantsReport2018-10-012019-09-3004857334ns10:SmallCompaniesRegimeForDirectorsReport2018-10-012019-09-3004857334ns10:SmallCompaniesRegimeForAccounts2018-10-012019-09-3004857334ns10:FullAccounts2018-10-012019-09-300485733412018-10-012019-09-3004857334ns10:Director22018-10-012019-09-3004857334ns10:CompanySecretary12018-10-012019-09-3004857334ns10:RegisteredOffice2018-10-012019-09-3004857334ns5:CurrentFinancialInstruments2019-09-3004857334ns5:CurrentFinancialInstruments2018-09-3004857334ns5:ShareCapital2019-09-3004857334ns5:ShareCapital2018-09-3004857334ns5:RetainedEarningsAccumulatedLosses2019-09-3004857334ns5:RetainedEarningsAccumulatedLosses2018-09-3004857334ns5:NetGoodwill2018-10-012019-09-3004857334ns5:IntangibleAssetsOtherThanGoodwill2018-10-012019-09-3004857334ns5:PlantMachinery2018-10-012019-09-3004857334ns5:NetGoodwill2018-09-3004857334ns5:NetGoodwill2019-09-3004857334ns5:NetGoodwill2018-09-3004857334ns5:PlantMachinery2018-09-3004857334ns5:PlantMachinery2019-09-3004857334ns5:PlantMachinery2018-09-3004857334ns5:CurrentFinancialInstrumentsns5:WithinOneYear2019-09-3004857334ns5:CurrentFinancialInstrumentsns5:WithinOneYear2018-09-30
REGISTERED NUMBER: 04857334 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

FOR

DEFINITIVE AUDIO LTD
DEFINITIVE AUDIO LTD (REGISTERED NUMBER: 04857334)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DEFINITIVE AUDIO LTD

COMPANY INFORMATION
for the Year Ended 30 September 2019







DIRECTORS: K J Scott
Mrs L Scott





SECRETARY:





REGISTERED OFFICE: Stanhope House
Harrington Mills
Leopold Street
Long Eaton
Nottinghamshire
NG10 4QE





REGISTERED NUMBER: 04857334 (England and Wales)





ACCOUNTANTS: D.J. Beer & Co
335 Jockey Road
Sutton Coldfield
West Midlands
B73 5XE
Page 1
DEFINITIVE AUDIO LTD (REGISTERED NUMBER: 04857334)

BALANCE SHEET
30 September 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 12,000 15,000
Tangible assets 5 20,251 26,432
32,251 41,432

CURRENT ASSETS
Stocks 221,126 239,610
Debtors 6 20,183 51,046
Cash at bank 54,110 67,521
295,419 358,177
CREDITORS
Amounts falling due within one year 7 64,026 94,961
NET CURRENT ASSETS 231,393 263,216
TOTAL ASSETS LESS CURRENT
LIABILITIES
263,644
304,648

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 263,642 304,646
SHAREHOLDERS' FUNDS 263,644 304,648

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 30 November 2019 and were signed on its behalf
by:



K J Scott - Director


The notes form part of these financial statements

Page 2
DEFINITIVE AUDIO LTD (REGISTERED NUMBER: 04857334)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2019

1. STATUTORY INFORMATION

Definitive Audio Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

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 etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

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.

Page 3 continued...
DEFINITIVE AUDIO LTD (REGISTERED NUMBER: 04857334)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2019

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2018 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2018
and 30 September 2019 60,000
AMORTISATION
At 1 October 2018 45,000
Charge for year 3,000
At 30 September 2019 48,000
NET BOOK VALUE
At 30 September 2019 12,000
At 30 September 2018 15,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2018
and 30 September 2019 94,800
DEPRECIATION
At 1 October 2018 68,368
Charge for year 6,181
At 30 September 2019 74,549
NET BOOK VALUE
At 30 September 2019 20,251
At 30 September 2018 26,432

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade debtors 6,993 37,901
Other debtors 13,190 13,145
20,183 51,046

Page 4 continued...
DEFINITIVE AUDIO LTD (REGISTERED NUMBER: 04857334)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2019

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Bank loans and overdrafts 35 5,812
Trade creditors 32,599 53,634
Taxation and social security 20,036 17,931
Other creditors 11,356 17,584
64,026 94,961

Page 5