SOUND IDENTITY LIMITED - Limited company accounts 23.2

REGISTERED NUMBER: 02205097 (England and Wales)

REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

FOR

SOUND IDENTITY LIMITED

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTOR:

C J BROWN

SECRETARY:

MRS A M BROWN

REGISTERED OFFICE:

THAMES COTTAGE

OLD MILL LANE

BRAY

BERKSHIRE

SL6 2BD

REGISTERED NUMBER:

02205097 (England and Wales)

ACCOUNTANTS:

ELAINE PLEACE ASSOCIATES

THAMES COTTAGE

OLD MILL LANE

BRAY

BERKSHIRE

SL6 2BD

The director presents his report with the financial statements of the company for the year ended 30 April 2023.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of

DIRECTOR

C J BROWN held office during the whole of the period from 1 May 2022 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

C J BROWN - Director

21 February 2024

TURNOVER

41,876

63,477

Administrative expenses

33,344

42,497

8,532

20,980

Other operating income

(10,662

)

28,600

OPERATING (LOSS)/PROFIT

4

(2,130

)

49,580

Gain/loss on revaluation of investments

-

(12,000

)

(2,130

)

37,580

Interest payable and similar expenses

397

2,430

(LOSS)/PROFIT BEFORE TAXATION

(2,527

)

35,150

Tax on (loss)/profit

-

19,261

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(2,527

)

15,889

FIXED ASSETS

Tangible assets

5

1,625

10,096

Investments

6

208,000

208,000

Investment property

7

1,271,630

1,250,000

1,481,255

1,468,096

CURRENT ASSETS

Debtors

8

4,725

47,243

Cash at bank

75,677

118,404

80,402

165,647

CREDITORS

Amounts falling due within one year

9

32,068

74,427

NET CURRENT ASSETS

48,334

91,220

TOTAL ASSETS LESS CURRENT LIABILITIES

1,529,589

1,559,316

PROVISIONS FOR LIABILITIES

200,314

200,314

NET ASSETS

1,329,275

1,359,002

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,329,175

1,358,902

1,329,275

1,359,002

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 21 February 2024 and were signed by:

C J BROWN - Director

1.	STATUTORY INFORMATION

SOUND IDENTITY 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.

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

-

33% on cost, 25% on reducing balance and 15% on reducing balance

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	OPERATING (LOSS)/PROFIT

The operating loss (2022 - operating profit) is stated after charging:

30.4.23

30.4.22

£

£

Depreciation - owned assets

640

3,115

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2022

52,488

Disposals

(23,000

)

At 30 April 2023

29,488

DEPRECIATION

At 1 May 2022

42,392

Charge for year

640

Eliminated on disposal

(15,169

)

At 30 April 2023

27,863

NET BOOK VALUE

At 30 April 2023

1,625

At 30 April 2022

10,096

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 May 2022

and 30 April 2023

266,000

PROVISIONS

At 1 May 2022

and 30 April 2023

58,000

NET BOOK VALUE

At 30 April 2023

208,000

At 30 April 2022

208,000

Cost or valuation at 30 April 2023 is represented by:

Other

investments

£

Valuation in 2022

266,000

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2022

1,250,000

Additions

21,630

At 30 April 2023

1,271,630

NET BOOK VALUE

At 30 April 2023

1,271,630

At 30 April 2022

1,250,000

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.23

30.4.22

£

£

Other debtors

4,725

47,243

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.23

30.4.22

£

£

Bank loans and overdrafts

-

18

Trade creditors

1,440

510

Taxation and social security

11,849

73,899

Other creditors

18,779

-

32,068

74,427

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2023 and 30 April 2022:

30.4.23

30.4.22

£

£

C J BROWN

Balance outstanding at start of year

42,475

1,475

Amounts advanced

-

41,000

Amounts repaid

(42,475

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

42,475