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REGISTERED NUMBER: 09051965 (England and Wales)

AUDIOPHILES CLINIC LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

AUDIOPHILES CLINIC LTD (REGISTERED NUMBER: 09051965)

CONTENTS OF THE FINANCIAL STATEMENTS

For The Year Ended 31 May 2023

Page |

Company Information | 1 |

Abridged Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

AUDIOPHILES CLINIC LTD

COMPANY INFORMATION

For The Year Ended 31 May 2023

| DIRECTOR: | P Butuc

| REGISTERED OFFICE: | Hilden Park House

| 79 Tonbridge Road

| Hildenborough

| Tonbridge

| Kent

| TN11 9BH

| REGISTERED NUMBER: | 09051965 (England and Wales)

| ACCOUNTANTS: | Hilden Park Accountants Limited

| Hilden Park House

| 79 Tonbridge Road

| Hildenborough

| Tonbridge

| Kent

| TN11 9BH

AUDIOPHILES CLINIC LTD (REGISTERED NUMBER: 09051965)

ABRIDGED BALANCE SHEET

31 May 2023

| 31/5/23 | 31/5/22 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 310 |  | 741 |  |

CURRENT ASSETS

Stocks | 75,400 |  | 80,316 |  |

Debtors | 1,762 |  | 1,005 |  |

Cash at bank | 1,241 |  | 596 |  |

78,403 |  | 81,917 |  |

CREDITORS

Amounts falling due within one year | 286,886 |  | 262,438 |  |

NET CURRENT LIABILITIES | (208,483 | ) | (180,521 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (208,173 | ) | (179,780 | ) |

CAPITAL AND RESERVES

Called up share capital | 1 |  | 1 |  |

Retained earnings | (208,174 | ) | (179,781 | ) |

SHAREHOLDERS' FUNDS | (208,173 | ) | (179,780 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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.

AUDIOPHILES CLINIC LTD (REGISTERED NUMBER: 09051965)

ABRIDGED BALANCE SHEET - continued

31 May 2023

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 2 October 2023 and were signed by:

P Butuc - Director

AUDIOPHILES CLINIC LTD (REGISTERED NUMBER: 09051965)

NOTES TO THE FINANCIAL STATEMENTS

For The Year Ended 31 May 2023

1. | STATUTORY INFORMATION

| Audiophiles Clinic Ltd 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.

| Turnover

| Turnover is measured at the value of the consideration received or receivable, net of discounts and value added taxes, for the sale of home audio systems. Turnover is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Office equipment | - | 33% straight line

| 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 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.

AUDIOPHILES CLINIC LTD (REGISTERED NUMBER: 09051965)

NOTES TO THE FINANCIAL STATEMENTS - continued

For The Year Ended 31 May 2023

2. | ACCOUNTING POLICIES - continued

| Going concern

| The financial statements have been prepared on a going concern basis due to the fact that working capital will be provided by the director in order that the company can continue in operational existence for the foreseeable future.

| These financial statements do not include any adjustments that would arise if the Company were unable to continue to trade.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was NIL (2022 - NIL).

4. | TANGIBLE FIXED ASSETS

| Totals

£ |

| COST

| At 1 June 2022

| and 31 May 2023 | 8,298 |  |

| DEPRECIATION

| At 1 June 2022 | 7,557 |  |

| Charge for year | 431 |  |

| At 31 May 2023 | 7,988 |  |

| NET BOOK VALUE

| At 31 May 2023 | 310 |  |

| At 31 May 2022 | 741 |  |