The Sound Doctor Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07496674 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

THE SOUND DOCTOR LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D G P Arkwright

Mrs R A Arkwright

REGISTERED OFFICE:

Ranbury Farmhouse

London Road

Poulton

Gloucestershire

GL7 5HN

REGISTERED NUMBER:

07496674 (England and Wales)

ACCOUNTANTS:

Haines Watts Cirencester Limited

Old Station House

Station Approach

Newport Street

Swindon

Wiltshire

SN1 3DU

FIXED ASSETS

Intangible assets

4

172,062

142,615

Tangible assets

5

4,079

1,962

Investments

6

244

244

176,385

144,821

CURRENT ASSETS

Debtors

7

826

18,962

Cash at bank

11,913

11

12,739

18,973

CREDITORS

Amounts falling due within one year

8

85,134

108,918

NET CURRENT LIABILITIES

(72,395

)

(89,945

)

TOTAL ASSETS LESS CURRENT LIABILITIES

103,990

54,876

CREDITORS

Amounts falling due after more than one year

9

24,500

-

NET ASSETS

79,490

54,876

CAPITAL AND RESERVES

Called up share capital

1,002

1,002

Share premium

318,416

318,416

Retained earnings

(239,928

)

(264,542

)

79,490

54,876

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 March 2022 and were signed on its behalf by:

Mr D G P Arkwright - Director

Mrs R A Arkwright - Director

1.	STATUTORY INFORMATION

The Sound Doctor 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.

Going Concern

The COVID-19 viral pandemic is one of the most significant economic events for the UK with unprecedented levels of uncertainty of outcomes. It is therefore difficult to evaluate all of the potential implications on the company's trade, customers, suppliers and wider economy. The Directors' view on the impact of COVID-19 is that, given the measures that could be undertaken to mitigate the current adverse conditions and the current resources available, they can continue to adopt the going concern basis in preparing the annual report and accounts

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract.

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.

Development costs are being amortised evenly over their estimated useful life of ten years.

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

-

25% on cost

Investments in associates

Investments in associate undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2020

297,009

Additions

65,855

At 31 March 2021

362,864

AMORTISATION

At 1 April 2020

154,394

Charge for year

36,408

At 31 March 2021

190,802

NET BOOK VALUE

At 31 March 2021

172,062

At 31 March 2020

142,615

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

11,538

Additions

4,115

At 31 March 2021

15,653

DEPRECIATION

At 1 April 2020

9,576

Charge for year

1,998

At 31 March 2021

11,574

NET BOOK VALUE

At 31 March 2021

4,079

At 31 March 2020

1,962

6.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 April 2020

and 31 March 2021

244

NET BOOK VALUE

At 31 March 2021

244

At 31 March 2020

244

The company's investments at the Statement of Financial Position date relate to the share capital of the following company:

The Team Doctor

Registered Address:

Hill Lodge

Upper Wanborough

Swindon

Wiltshire

SN4 0DQ

Class of shares - Ordinary

Shareholding - 48.75%

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

-

1

Other debtors

826

18,961

826

18,962

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

5,500

7,439

Trade creditors

-

23,119

Taxation and social security

6,972

1,487

Other creditors

72,662

76,873

85,134

108,918

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

24,500

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loan greater than 5 years

1,000

-