Company registration number 05909296 (England and Wales)
PINDROP HEARING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
PINDROP HEARING LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7
PINDROP HEARING LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
5
358,310
278,599
Current assets
Debtors
6
120,162
92,945
Cash at bank and in hand
386,468
252,607
506,630
345,552
Creditors: amounts falling due within one year
7
(421,634)
(316,818)
Net current assets
84,996
28,734
Total assets less current liabilities
443,306
307,333
Creditors: amounts falling due after more than one year
8
(92,058)
(26,611)
Provisions for liabilities
(64,351)
(42,325)
Net assets
286,897
238,397
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
286,895
238,395
Total equity
286,897
238,397

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

PINDROP HEARING LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
30 NOVEMBER 2023
30 November 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 28 March 2024 and are signed on its behalf by:
Mr R Ganguly
Director
Company registration number 05909296 (England and Wales)
PINDROP HEARING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
1
Accounting policies
Company information

Pindrop Hearing Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1A City Gate, 185 Dyke Road, Hove, BN3 1TL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Intangible fixed assets - goodwill

Acquired goodwill is written off in equal annual instalments over its useful economic life of 10 years.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Leasehold
Straight line method over the lease term
Plant and machinery
20% straight line method
Fixtures, fittings & equipment
15% straight line method
Computer equipment
33% straight line method
Motor vehicles
25% straight line method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

PINDROP HEARING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

PINDROP HEARING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
11
11
PINDROP HEARING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 6 -
4
Intangible fixed assets
Goodwill
£
Cost
At 1 December 2022 and 30 November 2023
43,900
Amortisation and impairment
At 1 December 2022 and 30 November 2023
43,900
Carrying amount
At 30 November 2023
-
0
At 30 November 2022
-
0
5
Tangible fixed assets
Land and buildings Leasehold
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 December 2022
222,214
299,341
75,456
43,125
-
0
640,136
Additions
12,063
18,835
12,960
9,796
118,650
172,304
At 30 November 2023
234,277
318,176
88,416
52,921
118,650
812,440
Depreciation and impairment
At 1 December 2022
62,980
234,406
33,522
30,629
-
0
361,537
Depreciation charged in the year
18,834
23,432
10,535
10,129
29,663
92,593
At 30 November 2023
81,814
257,838
44,057
40,758
29,663
454,130
Carrying amount
At 30 November 2023
152,463
60,338
44,359
12,163
88,987
358,310
At 30 November 2022
159,234
64,935
41,934
12,496
-
0
278,599
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
91,026
71,763
Other debtors
29,136
21,182
120,162
92,945
PINDROP HEARING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 7 -
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
10,098
9,849
Trade creditors
230,411
195,327
Taxation and social security
123,850
67,680
Other creditors
57,275
43,962
421,634
316,818
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
16,513
26,611
Other creditors
75,545
-
0
92,058
26,611
9
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2023
2022
Balances:
£
£
Accelerated capital allowances
64,351
42,325
2023
Movements in the year:
£
Liability at 1 December 2022
42,325
Charge to profit or loss
22,026
Liability at 30 November 2023
64,351
10
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
1,414,526
1,554,804
2023-11-302022-12-01false28 March 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityMr R GangulyMrs J GangulyMrs J Gangulyfalse059092962022-12-012023-11-30059092962023-11-30059092962022-11-3005909296core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-11-3005909296core:PlantMachinery2023-11-3005909296core:FurnitureFittings2023-11-3005909296core:ComputerEquipment2023-11-3005909296core:MotorVehicles2023-11-3005909296core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-11-3005909296core:PlantMachinery2022-11-3005909296core:FurnitureFittings2022-11-3005909296core:ComputerEquipment2022-11-3005909296core:MotorVehicles2022-11-3005909296core:CurrentFinancialInstrumentscore:WithinOneYear2023-11-3005909296core:CurrentFinancialInstrumentscore:WithinOneYear2022-11-3005909296core:Non-currentFinancialInstrumentscore:AfterOneYear2023-11-3005909296core:Non-currentFinancialInstrumentscore:AfterOneYear2022-11-3005909296core:CurrentFinancialInstruments2023-11-3005909296core:CurrentFinancialInstruments2022-11-3005909296core:Non-currentFinancialInstruments2023-11-3005909296core:Non-currentFinancialInstruments2022-11-3005909296core:ShareCapital2023-11-3005909296core:ShareCapital2022-11-3005909296core:RetainedEarningsAccumulatedLosses2023-11-3005909296core:RetainedEarningsAccumulatedLosses2022-11-3005909296bus:Director12022-12-012023-11-3005909296core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-12-012023-11-3005909296core:PlantMachinery2022-12-012023-11-3005909296core:FurnitureFittings2022-12-012023-11-3005909296core:ComputerEquipment2022-12-012023-11-3005909296core:MotorVehicles2022-12-012023-11-30059092962021-12-012022-11-3005909296core:NetGoodwill2022-11-3005909296core:NetGoodwill2023-11-3005909296core:NetGoodwill2022-11-3005909296core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-11-3005909296core:PlantMachinery2022-11-3005909296core:FurnitureFittings2022-11-3005909296core:ComputerEquipment2022-11-3005909296core:MotorVehicles2022-11-30059092962022-11-3005909296core:WithinOneYear2023-11-3005909296core:WithinOneYear2022-11-3005909296bus:PrivateLimitedCompanyLtd2022-12-012023-11-3005909296bus:SmallCompaniesRegimeForAccounts2022-12-012023-11-3005909296bus:FRS1022022-12-012023-11-3005909296bus:AuditExemptWithAccountantsReport2022-12-012023-11-3005909296bus:Director22022-12-012023-11-3005909296bus:CompanySecretary12022-12-012023-11-3005909296bus:FullAccounts2022-12-012023-11-30xbrli:purexbrli:sharesiso4217:GBP