Professional Sound Consultancy Ltd - Accounts

Professional Sound Consultancy Ltd - Accounts

PROFESSIONAL SOUND CONSULTANCY LIMITED - Company Information

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Registered Number: 04991407
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 March 2020

for

PROFESSIONAL SOUND CONSULTANCY LTD

Professional Sound Consultancy Ltd
Contents Page
For the year ended 31 March 2020
Directors Stephanie France
Katie Bradford
Registered Number 04991407
Registered Office N3 Blois Meadow Business Centre
Steeple Bumpstead
Haverhill
CB9 7BN
Accountants Quove Accounting Ltd
The Vision Centre
5 Eastern Way
Bury St Edmunds
IP32 7AB
1
The directors present their annual report and the financial statements for the year ended 31 March 2020
Principal activities
The principal activity of the company during the financial year was the provision of voice evacuation and voice loop systems.
Directors
The directors who served the company throughout the year were as follows:
Stephanie France
Katie Bradford
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the companys transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Stephanie France
Director

Date approved: 23 September 2020
2
 
 		 Notes
 		 2020
£		   2019
£
Fixed assets      
Tangible fixed assets 2 3,706    4,389 
3,706    4,389 
Current assets      
Stocks 3 13,598    12,255 
Debtors 4 287,379    189,515 
Cash at bank and in hand 511,722    462,842 
812,699    664,612 
Creditors: amount falling due within one year 5 (258,638)   (132,380)
Net current assets 554,061    532,232 
 
Total assets less current liabilities 557,767    536,621 
Provisions for liabilities 6 (705)   (834)
Net assets 557,062    535,787 
 

Capital and reserves 		     
Called up share capital 100    100 
Profit and loss account 556,962    535,687 
Shareholders funds 557,062    535,787 
 


For the year ended 31 March 2020 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with Section 476
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 23 September 2020 and were signed on its behalf by:


--------------------------------
Katie Bradford
Director		--------------------------------
Stephanie France
Director
3
General Information
Professional Sound Consultancy Ltd is a private company, limited by shares , registered in England and Wales , registration number 04991407 , registration address N3 Blois Meadow Business Centre , Steeple Bumpstead , Haverhill , CB9 7BN.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 15% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 April 2019 31,103    31,103 
Additions -    - 
Disposals -    - 
At 31 March 2020 31,103    31,103 
Depreciation
At 01 April 2019 26,714    26,714 
Charge for year 683    683 
On disposals -    - 
At 31 March 2020 27,397    27,397 
Net book values
Closing balance as at 31 March 2020 3,706    3,706 
Opening balance as at 01 April 2019 4,389    4,389 


3.

Stocks

2020
£		   2019
£
Stocks 13,598    12,255 
13,598    12,255 

4.

Debtors: amounts falling due within one year

2020
£		   2019
£
Trade Debtors 266,035    166,603 
Prepayments & Accrued Income 19,326    20,894 
Other Debtors 2,018    2,018 
287,379    189,515 

5.

Creditors: amount falling due within one year

2020
£		   2019
£
Trade Creditors 146,296    42,197 
Corporation Tax 35,758    51,351 
PAYE & Social Security 12,204    - 
Accrued Expenses 3,521    3,281 
Directors' Current Accounts 5,595    5,595 
VAT 55,264    29,956 
258,638    132,380 

6.

Provisions for liabilities

2020
£		   2019
£
Deferred Tax 705    834 
705    834 

7.

Average No of Employees

The average number of employees in the year was 14 (2019: 14)

4