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Registered number: 08149257
Hearing Care Consultants Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08149257
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,033,342 1,023,416
1,033,342 1,023,416
CURRENT ASSETS
Debtors 5 667,804 480,156
Cash at bank and in hand 10,620 7,112
678,424 487,268
Creditors: Amounts Falling Due Within One Year 6 (1,448,576 ) (1,132,717 )
NET CURRENT ASSETS (LIABILITIES) (770,152 ) (645,449 )
TOTAL ASSETS LESS CURRENT LIABILITIES 263,190 377,967
Creditors: Amounts Falling Due After More Than One Year 7 (212,618 ) (353,335 )
NET ASSETS 50,572 24,632
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 50,472 24,532
SHAREHOLDERS' FUNDS 50,572 24,632
Page 1
Page 2
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Jabbar Ahmed
Director
30/04/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Hearing Care Consultants Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08149257 . The registered office is UNIT 3 WITTON BUSINESS PARK, CARTMEL ROAD, Blackburn, Lancashire, BB2 2TA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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 form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover form the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 1% Straight Line
Plant & Machinery 25% Straight Line
Fixtures & Fittings 25% Straight Line
Computer Equipment 25% Straight Line
2.4. Taxation
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. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
Page 3
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4. Tangible Assets
Land & Property
Freehold Computer Equipment Total
£ £ £
Cost
As at 1 August 2022 1,030,000 24,540 1,054,540
Additions 26,000 - 26,000
As at 31 July 2023 1,056,000 24,540 1,080,540
Depreciation
As at 1 August 2022 13,950 17,174 31,124
Provided during the period 10,950 - 10,950
Disposals - 5,124 5,124
As at 31 July 2023 24,900 22,298 47,198
Net Book Value
As at 31 July 2023 1,031,100 2,242 1,033,342
As at 1 August 2022 1,016,050 7,366 1,023,416
5. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 481,077 480,156
Other debtors 186,727 -
667,804 480,156
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 5,857 40,277
Bank loans and overdrafts 5,632 -
Other loans 284,382 4,559
Corporation tax 6,054 7,259
Other taxes and social security 7,652 5,748
VAT 46,959 8,925
Other creditors 148,153 316,324
Other creditors (1) - 143,594
Accruals and deferred income 792,387 454,531
Director's loan account 151,500 151,500
1,448,576 1,132,717
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Page 5
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 32,618 38,335
Other loans 180,000 315,000
212,618 353,335
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
9. Ultimate Controlling Party
The company's ultimate controlling party is Mr Jabbar Ahmed by virtue of his ownership of 100% of the issued share capital in the company.
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