Stoneaudio UK Limited - Accounts to registrar (filleted) - small 18.2
Stoneaudio UK Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 May 2020 |
| for |
| Stoneaudio UK Limited |
| Stoneaudio UK Limited (Registered number: 03959668) |
| Contents of the Financial Statements |
| for the Year Ended 31 May 2020 |
| Page |
| Company Information | 1 |
| Abridged Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Stoneaudio UK Limited |
| Company Information |
| for the Year Ended 31 May 2020 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 4 Cedar Park |
| Cobham Road |
| Ferndown Industrial Estate |
| Wimborne |
| Dorset |
| BH21 7SF |
| Stoneaudio UK Limited (Registered number: 03959668) |
| Abridged Statement of Financial Position |
| 31 May 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Prepayments and accrued income |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
5 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 8 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Stoneaudio UK Limited (Registered number: 03959668) |
| Abridged Statement of Financial Position - continued |
| 31 May 2020 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| Stoneaudio UK Limited (Registered number: 03959668) |
| Notes to the Financial Statements |
| for the Year Ended 31 May 2020 |
| 1. | STATUTORY INFORMATION |
| Stoneaudio UK Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Freehold property | 2.5% on cost |
| Improvements to property | 20% on cost |
| Fixtures and fittings | 50% on cost and 25% reducing balance |
| Motor vehicles | 20% reducing balance |
| Computer equipment | 50% on cost and 33% on cost |
| Website costs | 33% on cost |
| 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 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. |
| Stoneaudio UK Limited (Registered number: 03959668) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Freehold property |
| Freehold property is under a 999 year lease. Due to the length of the lease the substance of the agreement has been interpreted such that freehold property is owed by Stoneaudio UK Limited. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST OR VALUATION |
| At 1 June 2019 |
| Additions |
| At 31 May 2020 |
| DEPRECIATION |
| At 1 June 2019 |
| Charge for year |
| At 31 May 2020 |
| NET BOOK VALUE |
| At 31 May 2020 |
| At 31 May 2019 |
| Cost or valuation at 31 May 2020 is represented by: |
| Totals |
| £ |
| Valuation in 2013 | 67,250 |
| Cost | 1,017,874 |
| 1,085,124 |
| If freehold property had not been revalued it would have been included at the following historical cost: |
| 2020 | 2019 |
| £ | £ |
| Cost | 717,750 | 717,750 |
| Value of land in freehold land and buildings | 358,875 | 358,875 |
| Freehold property was valued on an open market basis on 23 September 2013 by Lambert Smith Hampton . |
| Stoneaudio UK Limited (Registered number: 03959668) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2020 |
| 5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
| 2020 | 2019 |
| £ | £ |
| Repayable by instalments |
| Bank loans more 5yr | 125,228 | 163,612 |
| 6. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2020 | 2019 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| Amounts falling due between one and two years: |
| Bank loans - 1-2 years |
| Amounts falling due between two and five years: |
| Bank loans - 3-5 years |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5yr | 125,228 | 163,612 |
| 7. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| The Bank Loan is secured against the freehold property owned by the company. |
| 8. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 June 2019 |
| and 31 May 2020 |