Sound Induction Systems Limited Filleted Accounts Cover
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Company No. 03956767
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Sound Induction Systems Limited Directors Report Registrar
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The Directors present their report and the accounts for the year ended 31 March 2022.
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Principal activities
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Directors
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The Directors who served at any time during the year were as follows:
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C.E. Nicholes
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G. Nicholes
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P. Nicholes
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(Resigned 29 July 2022)
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Signed on behalf of the board
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G. Nicholes
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Director
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13 December 2022
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Sound Induction Systems Limited Balance Sheet Registrar
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at
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Company No.
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Notes
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2022
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2021
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£
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£
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Fixed assets
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Tangible assets
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4
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Current assets
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Stocks
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5
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Debtors
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6
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Cash at bank and in hand
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Creditors: Amount falling due within one year
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7
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(
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(
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Net current assets
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Total assets less current liabilities
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Net assets
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Capital and reserves
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Called up share capital
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Profit and loss account
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8
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Total equity
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As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
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Approved by the board on 13 December 2022
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And signed on its behalf by:
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G. Nicholes
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Director
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13 December 2022
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Sound Induction Systems Limited Notes to the Accounts Registrar
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for the year ended 31 March 2022
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1
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General information
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Its registered number is: 03956767
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Its registered office is:
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2
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Accounting policies
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Turnover
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Revenue from the sale of goods is recognised when all the following conditions are satisfied: • the Company has transferred to the buyer the significant risks and rewards of ownership of the goods; • the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; • the amount of revenue can be measured reliably; • it is probable that the economic benefits associated with the transaction will flow to the Company; and • the costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed. |
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Taxation
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Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. |
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Freehold investment property
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No depreciation is provided in respect of investment properties. |
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Stocks
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When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs. Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses. |
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Trade and other debtors
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Trade and other creditors
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Foreign currencies
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Defined contribution pensions
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The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
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3
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Employees
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2022
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2021
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Number
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Number
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The average monthly number of employees (including directors) during the year was:
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4
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Tangible fixed assets
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Land and buildings
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Motor vehicles
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Total
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£
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£
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£
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Cost or revaluation
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At 1 April 2021
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At 31 March 2022
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Depreciation
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At 1 April 2021
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Charge for the year
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At 31 March 2022
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Net book values
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At 31 March 2022
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At 31 March 2021
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5
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Stocks
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2022
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2021
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£
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£
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Finished goods
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6
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Debtors
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2022
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2021
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£
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£
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Trade debtors
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Loans to directors
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7
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Creditors:
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amounts falling due within one year
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2022
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2021
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£
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£
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Bank loans and overdrafts
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Trade creditors
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Corporation tax
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Other taxes and social security
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Other creditors
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Accruals and deferred income
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8
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Reserves
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9
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Dividends
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2022
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2021
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£
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£
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Dividends for the period:
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Dividends paid in the period
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247,968
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173,230
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173,230
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Dividends by type:
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Equity dividends
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247,968
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173,230
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