Movement Sound & Lighting Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03617782 (England and Wales)

MOVEMENT, SOUND & LIGHTING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K A Cresswell

B Cresswell

REGISTERED OFFICE:

Highland House

Mayflower Close

Chandler's Ford

Eastleigh

Hampshire

SO53 4AR

BUSINESS ADDRESS:

11-13 Church Street

Shirley

Southampton

Hampshire

SO15 5LG

REGISTERED NUMBER:

03617782 (England and Wales)

BANKERS:

The Royal Bank of Scotland

156, High Street

Southampton

Hampshire

SO14 2NP

FIXED ASSETS

Intangible assets

4

66,162

4,000

Tangible assets

5

10,740

9,308

Investment property

6

192,507

192,507

269,409

205,815

CURRENT ASSETS

Stocks

475,308

234,302

Debtors

7

136,794

48,693

Cash at bank and in hand

78,134

99,890

690,236

382,885

CREDITORS

Amounts falling due within one year

8

(628,767

)

(356,740

)

NET CURRENT ASSETS

61,469

26,145

TOTAL ASSETS LESS CURRENT LIABILITIES

330,878

231,960

CREDITORS

Amounts falling due after more than one year

9

(208,457

)

(119,476

)

NET ASSETS

122,421

112,484

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

122,321

112,384

SHAREHOLDERS' FUNDS

122,421

112,484

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 June 2020 and were signed on its behalf by:

K A Cresswell - Director

1.	STATUTORY INFORMATION

Movement, Sound & Lighting 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 FRS102 "The Financial Reporting Standards

applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as

applicable to companies subject to the small companies regime.

The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is

required to show a true and far view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary

amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain

financial instruments at fair value. The principal accounting policies adopted are set out below.

The directors have considered the impact and risk on the company of COVID-19 and the company's prospects,

recognising the high degree of uncertainty. The directors have concluded that with the right management actions

the company is a going concern for at least 12 months following the signature of the financial statements.

Accordingly the directors have prepared the financial statements on this basis.

Turnover

Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are

physically dispatched to the customer.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Equipment

-

15% Reducing balance

Motor vehicles

-

25% Reducing balance

Website costs

-

33.33% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and

the carrying value of the asset and is recognised in the income statement.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

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 Statement of Income and

Retained Earnings, 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.

Financial assets

The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other

Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party

to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured

at transaction price including transaction costs and are subsequently carried at amortised cost using the effective

interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at

the present value of the future receipts discounted at a market rate of interest.

Financial liabilities

Basic financial liabilities which include trade and other payables, are initially measured at transaction price and

subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the

debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments

Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue

costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the

discretion of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2018 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 October 2018

5,000

-

5,000

Additions

-

62,662

62,662

At 30 September 2019

5,000

62,662

67,662

AMORTISATION

At 1 October 2018

1,000

-

1,000

Charge for year

500

-

500

At 30 September 2019

1,500

-

1,500

NET BOOK VALUE

At 30 September 2019

3,500

62,662

66,162

At 30 September 2018

4,000

-

4,000

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Website

Equipment

fittings

vehicles

costs

Totals

£

£

£

£

£

COST

At 1 October 2018

18,384

7,466

13,417

15,649

54,916

Additions

2,258

741

-

-

2,999

At 30 September 2019

20,642

8,207

13,417

15,649

57,915

DEPRECIATION

At 1 October 2018

12,212

4,557

13,190

15,649

45,608

Charge for year

962

548

57

-

1,567

At 30 September 2019

13,174

5,105

13,247

15,649

47,175

NET BOOK VALUE

At 30 September 2019

7,468

3,102

170

-

10,740

At 30 September 2018

6,172

2,909

227

-

9,308

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2018

and 30 September 2019

192,507

NET BOOK VALUE

At 30 September 2019

192,507

At 30 September 2018

192,507

Investment property was valued by the Director on an open market basis at the balance sheet date.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

5,184

32,050

Other debtors

131,610

16,643

136,794

48,693

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts (see note 10)

52,686

2,553

Trade creditors

206,382

102,223

Taxation and social security

2,280

108,163

Other creditors

367,419

143,801

628,767

356,740

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans (see note 10)

208,457

119,476

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

by instalments

104,567

107,859

104,567

107,859

10.

LOANS

An analysis of the maturity of loans is given below:

2019

2018

£

£

Amounts falling due within one year or on demand:

Bank loans - less than 1 year

52,686

2,553

Amounts falling due between one and two years:

Bank loans - 1-2 years

52,827

2,686

Amounts falling due between two and five years:

Bank loans - 2-5 years

51,063

8,931

Amounts falling due in more than five years:

2019

2018

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

by instalments

104,567

107,859

104,567

107,859

11.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2019

2018

£

£

Within one year

22,200

22,200

Between one and five years

222

22,422

22,422

44,622

12.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

261,143

122,029

Bank loans are secured by way of a fixed and floating charge over the company's assets.

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the company has guaranteed £94,500 (2018: £94,500), in respect of a Director's personal

borrowing.

14.	POST BALANCE SHEET EVENTS

COVID-19 and its effects on the business represent a non-adjusting post balance sheet event.