Gillieron Scott Acoustic Design Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08457631 (England and Wales)

Financial Statements for the Year Ended 31 March 2023

for

Gillieron Scott Acoustic Design Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Gillieron

T Scott

L Zalberg

M Trowsdale

REGISTERED OFFICE:

130 Brixton Hill

London

SW2 1RS

REGISTERED NUMBER:

08457631 (England and Wales)

ACCOUNTANTS:

Atkinsons

Chartered Accountants

Palmeira Avenue Mansions

19 Church Road

Hove

East Sussex

BN3 2FA

FIXED ASSETS

Intangible assets

4

-

28,124

Tangible assets

5

13,670

13,639

13,670

41,763

CURRENT ASSETS

Debtors

6

89,172

73,803

Cash at bank

72,080

140,356

161,252

214,159

CREDITORS

Amounts falling due within one year

7

121,022

101,811

NET CURRENT ASSETS

40,230

112,348

TOTAL ASSETS LESS CURRENT LIABILITIES

53,900

154,111

CREDITORS

Amounts falling due after more than one year

8

(109,915

)

(84,500

)

PROVISIONS FOR LIABILITIES

(2,597

)

(2,591

)

NET (LIABILITIES)/ASSETS

(58,612

)

67,020

CAPITAL AND RESERVES

Called up share capital

159

179

Capital redemption reserve

41

21

Retained earnings

(58,812

)

66,820

SHAREHOLDERS' FUNDS

(58,612

)

67,020

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 and authorised for issue on 8 December 2023 and were signed on its behalf by:

T Scott - Director

1.	STATUTORY INFORMATION

Gillieron Scott Acoustic Design 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 as modified by the revaluation of certain assets.

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 will be revalued each year.

Tangible fixed assets

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

Leasehold - Integral Features

-

25% on reducing balance

Acoustic Equipment

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Office Equipment

-

25% on reducing balance

Computer equipment

-

25% 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 6 (2022 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Crypto

Currency

£

COST OR VALUATION

At 1 April 2022

28,124

Disposals

(20,444

)

Revaluations

(7,680

)

At 31 March 2023

-

NET BOOK VALUE

At 31 March 2023

-

At 31 March 2022

28,124

Cost or valuation at 31 March 2023 is represented by:

Crypto

Currency

£

Valuation in 2023

(7,680

)

Cost

7,680

If cryptocurrency had not been revalued they would have been included at the following historical cost:

31.3.23

31.3.22

£

£

Cost

7,680

54,420

Cryptocurrency were valued on an open market basis on 31 March 2023 by Nexo .

5.	TANGIBLE FIXED ASSETS

Leasehold

Fixtures

- Integral

Acoustic

and

Features

Equipment

fittings

£

£

£

COST

At 1 April 2022

8,582

23,073

8,261

Additions

-

1,032

-

At 31 March 2023

8,582

24,105

8,261

DEPRECIATION

At 1 April 2022

7,257

17,611

7,159

Charge for year

331

1,624

275

At 31 March 2023

7,588

19,235

7,434

NET BOOK VALUE

At 31 March 2023

994

4,870

827

At 31 March 2022

1,325

5,462

1,102

Office

Computer

Equipment

equipment

Totals

£

£

£

COST

At 1 April 2022

9,444

10,983

60,343

Additions

630

2,926

4,588

At 31 March 2023

10,074

13,909

64,931

DEPRECIATION

At 1 April 2022

7,132

7,545

46,704

Charge for year

736

1,591

4,557

At 31 March 2023

7,868

9,136

51,261

NET BOOK VALUE

At 31 March 2023

2,206

4,773

13,670

At 31 March 2022

2,312

3,438

13,639

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

89,172

73,803

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

53,977

26,000

Trade creditors

2,287

1,784

Taxation and social security

34,613

28,745

Other creditors

30,145

45,282

121,022

101,811

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans

109,915

84,500

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption under FRS 102 1AC.35 whereby particulars need not be given for related party transactions concluded under normal market conditions, or transactions entered into between two or more members of a group, provided that any subsidiary which is party to the transactions is wholly-owned by such a member.