2023-01-012023-12-312023-12-31false12358776EARSWITCH LTD2024-04-17iso4217:GBPxbrli:pure123587762023-01-01123587762023-12-31123587762023-01-012023-12-31123587762022-01-01123587762022-12-31123587762022-01-012022-12-3112358776bus:SmallEntities2023-01-012023-12-3112358776bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3112358776bus:FullAccounts2023-01-012023-12-3112358776bus:PrivateLimitedCompanyLtd2023-01-012023-12-3112358776core:WithinOneYear2023-12-3112358776core:AfterOneYear2023-12-3112358776core:WithinOneYear2022-12-3112358776core:AfterOneYear2022-12-3112358776core:ShareCapital2023-12-3112358776core:SharePremium2023-12-3112358776core:RevaluationReserve2023-12-3112358776core:OtherReservesSubtotal2023-12-3112358776core:RetainedEarningsAccumulatedLosses2023-12-3112358776core:ShareCapital2022-12-3112358776core:SharePremium2022-12-3112358776core:RevaluationReserve2022-12-3112358776core:OtherReservesSubtotal2022-12-3112358776core:RetainedEarningsAccumulatedLosses2022-12-3112358776core:LandBuildings2023-12-3112358776core:PlantMachinery2023-12-3112358776core:Vehicles2023-12-3112358776core:FurnitureFittings2023-12-3112358776core:OfficeEquipment2023-12-3112358776core:NetGoodwill2023-12-3112358776core:IntangibleAssetsOtherThanGoodwill2023-12-3112358776core:ListedExchangeTraded2023-12-3112358776core:UnlistedNon-exchangeTraded2023-12-3112358776core:LandBuildings2022-12-3112358776core:PlantMachinery2022-12-3112358776core:Vehicles2022-12-3112358776core:FurnitureFittings2022-12-3112358776core:OfficeEquipment2022-12-3112358776core:NetGoodwill2022-12-3112358776core:IntangibleAssetsOtherThanGoodwill2022-12-3112358776core:ListedExchangeTraded2022-12-3112358776core:UnlistedNon-exchangeTraded2022-12-3112358776core:LandBuildings2023-01-012023-12-3112358776core:PlantMachinery2023-01-012023-12-3112358776core:Vehicles2023-01-012023-12-3112358776core:FurnitureFittings2023-01-012023-12-3112358776core:OfficeEquipment2023-01-012023-12-3112358776core:NetGoodwill2023-01-012023-12-3112358776core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3112358776core:ListedExchangeTraded2023-01-012023-12-3112358776core:UnlistedNon-exchangeTraded2023-01-012023-12-3112358776core:MoreThanFiveYears2023-01-012023-12-3112358776core:Non-currentFinancialInstruments2023-12-3112358776core:Non-currentFinancialInstruments2022-12-3112358776dpl:CostSales2023-01-012023-12-3112358776dpl:DistributionCosts2023-01-012023-12-3112358776core:LandBuildings2023-01-012023-12-3112358776core:PlantMachinery2023-01-012023-12-3112358776core:Vehicles2023-01-012023-12-3112358776core:FurnitureFittings2023-01-012023-12-3112358776core:OfficeEquipment2023-01-012023-12-3112358776dpl:AdministrativeExpenses2023-01-012023-12-3112358776core:NetGoodwill2023-01-012023-12-3112358776core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3112358776dpl:GroupUndertakings2023-01-012023-12-3112358776dpl:ParticipatingInterests2023-01-012023-12-3112358776dpl:GroupUndertakingscore:ListedExchangeTraded2023-01-012023-12-3112358776core:ListedExchangeTraded2023-01-012023-12-3112358776dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-01-012023-12-3112358776core:UnlistedNon-exchangeTraded2023-01-012023-12-3112358776dpl:CostSales2022-01-012022-12-3112358776dpl:DistributionCosts2022-01-012022-12-3112358776core:LandBuildings2022-01-012022-12-3112358776core:PlantMachinery2022-01-012022-12-3112358776core:Vehicles2022-01-012022-12-3112358776core:FurnitureFittings2022-01-012022-12-3112358776core:OfficeEquipment2022-01-012022-12-3112358776dpl:AdministrativeExpenses2022-01-012022-12-3112358776core:NetGoodwill2022-01-012022-12-3112358776core:IntangibleAssetsOtherThanGoodwill2022-01-012022-12-3112358776dpl:GroupUndertakings2022-01-012022-12-3112358776dpl:ParticipatingInterests2022-01-012022-12-3112358776dpl:GroupUndertakingscore:ListedExchangeTraded2022-01-012022-12-3112358776core:ListedExchangeTraded2022-01-012022-12-3112358776dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-01-012022-12-3112358776core:UnlistedNon-exchangeTraded2022-01-012022-12-3112358776core:NetGoodwill2023-12-3112358776core:IntangibleAssetsOtherThanGoodwill2023-12-3112358776core:LandBuildings2023-12-3112358776core:PlantMachinery2023-12-3112358776core:Vehicles2023-12-3112358776core:FurnitureFittings2023-12-3112358776core:OfficeEquipment2023-12-3112358776core:AfterOneYear2023-12-3112358776core:WithinOneYear2023-12-3112358776core:ListedExchangeTraded2023-12-3112358776core:UnlistedNon-exchangeTraded2023-12-3112358776core:ShareCapital2023-12-3112358776core:SharePremium2023-12-3112358776core:RevaluationReserve2023-12-3112358776core:OtherReservesSubtotal2023-12-3112358776core:RetainedEarningsAccumulatedLosses2023-12-3112358776core:NetGoodwill2022-12-3112358776core:IntangibleAssetsOtherThanGoodwill2022-12-3112358776core:LandBuildings2022-12-3112358776core:PlantMachinery2022-12-3112358776core:Vehicles2022-12-3112358776core:FurnitureFittings2022-12-3112358776core:OfficeEquipment2022-12-3112358776core:AfterOneYear2022-12-3112358776core:WithinOneYear2022-12-3112358776core:ListedExchange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EARSWITCH LTD

Registered Number
12358776
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

EARSWITCH LTD
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

Gai Rosemary BENNETT
Dr Nicholas Roy GOMPERTZ
Dominic John KEEN
Garry Charles PRATT
Naseeb SINGH

Registered Address

111 Piccadilly
Manchester
M1 2HY

Registered Number

12358776 (England and Wales)
EARSWITCH LTD
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets3123,79044,012
Tangible assets412,737309
136,52744,321
Current assets
Debtors5199,629197,623
Cash at bank and on hand52,113181,189
251,742378,812
Creditors amounts falling due within one year6(229,173)(209,815)
Net current assets (liabilities)22,569168,997
Total assets less current liabilities159,096213,318
Net assets159,096213,318
Capital and reserves
Called up share capital11
Share premium413,233178,578
Other reserves23,8278,950
Profit and loss account(277,965)25,789
Shareholders' funds159,096213,318
The financial statements were approved and authorised for issue by the Board of Directors on 17 April 2024, and are signed on its behalf by:
Dr Nicholas Roy GOMPERTZ
Director
Registered Company No. 12358776
EARSWITCH LTD
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Share-based payments
The company provides share-based payment arrangements to certain employees. Equity-settled arrangements are measured at fair value (excluding the effect of non-market based vesting conditions) at the date of the grant. The fair value is expensed on a straightline basis over the vesting period. The amount recognised as an expense is adjusted to reflect the actual number of shares or options that will vest. Where equity-settled arrangements are modified, and are of benefit to the employee, the incremental fair value is recognised over the period from the date of modification to date of vesting. Where a modification is not beneficial to the employee there is no change to the charge for share-based payment. Settlements and cancellations are treated as an acceleration of vesting and the unvested amount is recognised immediately in the income statement.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual, over their useful life as follows: Patents: Straight line over 7 years
Research and development
All research costs are expensed. Costs related to the development of products are capitalised when they meet the criteria stated in FRS 102, Section 18 Intangible assets other than Goodwill. All other development expenditure is recognised as an expense in the period in which it is incurred.
Tangible fixed assets and depreciation
All fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Office Equipment3
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20232022
Average number of employees during the year125
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 January 2351,17551,175
Additions94,32194,321
At 31 December 23145,496145,496
Amortisation and impairment
At 01 January 237,1637,163
Charge for year14,54314,543
At 31 December 2321,70621,706
Net book value
At 31 December 23123,790123,790
At 31 December 2244,01244,012
4.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 January 23628628
Additions15,16915,169
At 31 December 2315,79715,797
Depreciation and impairment
At 01 January 23319319
Charge for year2,7412,741
At 31 December 233,0603,060
Net book value
At 31 December 2312,73712,737
At 31 December 22309309
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables62,851-
Other debtors134,87944,944
Prepayments and accrued income1,899152,679
Total199,629197,623
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables83,81197,136
Taxation and social security22,62114,565
Other creditors122,7411,282
Accrued liabilities and deferred income-96,832
Total229,173209,815
7.Share capital
On 15 March 2023, 900 shares of £0.00001 each were allotted and fully paid at a price of £0.00001 per share. On 26 April 2023, 4,726 shares of £0.00001 each were allotted and fully paid at a price of £23.70 per share. On 11 May 2023, 548 shares of £0.00001 each were allotted and fully paid at a price of £23.70 per share. On 1 June 2023, 4,641 shares of £0.00001 each were allotted and fully paid at a price of £23.70 per share.