Unique Sound Systems Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03972403 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

UNIQUE SOUND SYSTEMS LIMITED

Page

Company Information

1

Chartered Certified Accountants' Report

2

Statement of Financial Position

3

to

4

Notes to the Financial Statements

5

to

7

DIRECTORS:

M K Salter

R M Thomas

SECRETARY:

R M Thomas

REGISTERED OFFICE:

Unit 40

Central Way

Cheltenham Trade Park

Cheltenham

Gloucestershire

GL51 8LX

REGISTERED NUMBER:

03972403 (England and Wales)

ACCOUNTANTS:

Smith Heath Limited

Brent House

382 Gloucester Road

Cheltenham

Gloucestershire

GL51 7AY

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary

statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Unique Sound Systems Limited for the year ended 31 March 2018 which comprise the Statement

of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting

records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Unique Sound Systems Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Unique Sound Systems Limited and state those matters that we have agreed to state to the Board of Directors of Unique Sound Systems Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Unique Sound Systems Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Unique Sound Systems Limited. You consider that Unique Sound Systems Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Unique Sound Systems Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Smith Heath Limited

Brent House

382 Gloucester Road

Cheltenham

Gloucestershire

GL51 7AY

18 December 2018

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

298,471

321,886

298,471

321,886

CURRENT ASSETS

Debtors

6

196,663

161,433

Cash at bank and in hand

56,574

86,306

253,237

247,739

CREDITORS

Amounts falling due within one year

7

140,606

151,890

NET CURRENT ASSETS

112,631

95,849

TOTAL ASSETS LESS CURRENT LIABILITIES

411,102

417,735

PROVISIONS FOR LIABILITIES

51,132

57,218

NET ASSETS

359,970

360,517

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

358,970

359,517

SHAREHOLDERS' FUNDS

359,970

360,517

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 18 December 2018 and were signed on its behalf by:

M K Salter - Director

1.	STATUTORY INFORMATION

Unique Sound Systems 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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

Acquired goodwill is written off in equal annual instalments over its estimated useful life of 5 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.

Short leasehold improvements

-

Straight line over the life of the lease

Plant and machinery

-

25% on cost

Fixtures, fittings and equipment

-

15% - 33.3% on cost

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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 5 (2017 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2017

and 31 March 2018

60,000

AMORTISATION

At 1 April 2017

and 31 March 2018

60,000

NET BOOK VALUE

At 31 March 2018

-

At 31 March 2017

-

5.	TANGIBLE FIXED ASSETS

Fixtures,

Short

fittings

leasehold

Plant and

and

improvements

machinery

equipment

Totals

£

£

£

£

COST

At 1 April 2017

12,858

1,322,624

13,677

1,349,159

Additions

-

133,931

-

133,931

At 31 March 2018

12,858

1,456,555

13,677

1,483,090

DEPRECIATION

At 1 April 2017

12,857

1,001,196

13,220

1,027,273

Charge for year

-

157,214

132

157,346

At 31 March 2018

12,857

1,158,410

13,352

1,184,619

NET BOOK VALUE

At 31 March 2018

1

298,145

325

298,471

At 31 March 2017

1

321,428

457

321,886

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

156,713

115,482

Other debtors

39,950

45,951

196,663

161,433

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

41,536

47,962

Taxation and social security

35,381

26,694

Other creditors

63,689

77,234

140,606

151,890