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REGISTERED NUMBER: SC443853 (Scotland)











Unaudited Financial Statements for the Year Ended 31st May 2022

for

Castle Hearing Limited

Castle Hearing Limited (Registered number: SC443853)






Contents of the Financial Statements
for the Year Ended 31st May 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 6


Castle Hearing Limited

Company Information
for the Year Ended 31st May 2022







DIRECTOR: S A Robb





REGISTERED OFFICE: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ





REGISTERED NUMBER: SC443853 (Scotland)





ACCOUNTANTS: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ

Castle Hearing Limited (Registered number: SC443853)

Balance Sheet
31st May 2022

2022 2021
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 261,803 259,183
Investments 6 20,000 20,000
281,803 279,183

CURRENT ASSETS
Stocks 366,207 396,370
Debtors 7 146,655 221,695
Cash at bank and in hand 1,107,158 510,148
1,620,020 1,128,213
CREDITORS
Amounts falling due within one year 8 (451,508 ) (441,436 )
NET CURRENT ASSETS 1,168,512 686,777
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,450,315

965,960

CREDITORS
Amounts falling due after more than one year 9 (160,978 ) -

PROVISIONS FOR LIABILITIES (2,504 ) (2,504 )
NET ASSETS 1,286,833 963,456

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,286,733 963,356
1,286,833 963,456

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2022 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 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 director and authorised for issue on 6th September 2022 and were signed by:



S A Robb - Director


Castle Hearing Limited (Registered number: SC443853)

Notes to the Financial Statements
for the Year Ended 31st May 2022

1. STATUTORY INFORMATION

Castle Hearing Limited is a private company, limited by shares , registered in Scotland. 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.

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
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil 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.
Plant and machinery - 15% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

Investments in associates
Investments in associate undertakings are recognised at 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 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 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.

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.

Castle Hearing Limited (Registered number: SC443853)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2022

2. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current liabilities.

Borrowings
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Provisions and contingencies
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2021 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st June 2021
and 31st May 2022 10,000
AMORTISATION
At 1st June 2021
and 31st May 2022 10,000
NET BOOK VALUE
At 31st May 2022 -
At 31st May 2021 -

Castle Hearing Limited (Registered number: SC443853)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2022

5. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1st June 2021 247,303 21,961 269,264
Additions - 4,744 4,744
At 31st May 2022 247,303 26,705 274,008
DEPRECIATION
At 1st June 2021 - 10,081 10,081
Charge for year - 2,124 2,124
At 31st May 2022 - 12,205 12,205
NET BOOK VALUE
At 31st May 2022 247,303 14,500 261,803
At 31st May 2021 247,303 11,880 259,183

6. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1st June 2021
and 31st May 2022 20,000
NET BOOK VALUE
At 31st May 2022 20,000
At 31st May 2021 20,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 21,468 6,989
Other debtors - 44,309
Directors' current accounts 83,435 150,857
VAT 41,752 19,540
146,655 221,695

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 39,790 50,000
VAT European - 13,198
Trade creditors 324,942 183,593
Tax 58,392 53,009
UK Health Sales Ltd 25,884 139,136
Accrued expenses 2,500 2,500
451,508 441,436

Castle Hearing Limited (Registered number: SC443853)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2022

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Other creditors 160,978 -

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st May 2022 and 31st May 2021:

2022 2021
£    £   
S A Robb
Balance outstanding at start of year 150,857 88,582
Amounts advanced 83,435 150,857
Amounts repaid (150,857 ) (88,582 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 83,435 150,857