Registered number
07564188
Plymouth Hearing Centre Ltd
Filleted Accounts
30 March 2024
Plymouth Hearing Centre Ltd
Registered number: 07564188
Balance Sheet
as at 30 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 14,470 18,016
Current assets
Stocks 4,480 6,535
Debtors 4 4,601 3,838
Cash at bank and in hand 20,834 9,966
29,915 20,339
Creditors: amounts falling due within one year 5 (11,689) (2,306)
Net current assets 18,226 18,033
Total assets less current liabilities 32,696 36,049
Creditors: amounts falling due after more than one year 6 (21,145) (30,907)
Provisions for liabilities (3,423) (3,423)
Net assets 8,128 1,719
Capital and reserves
Called up share capital 2 2
Profit and loss account 8,126 1,717
Shareholders' funds 8,128 1,719
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Kevin Carlyon
Director
Approved by the board on 2 August 2024
Plymouth Hearing Centre Ltd
Notes to the Accounts
for the period from 1 April 2023 to 30 March 2024
1 Accounting policies
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
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 33% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 51,602
Additions 1,570
At 30 March 2024 53,172
Depreciation
At 1 April 2023 33,586
Charge for the period 5,116
At 30 March 2024 38,702
Net book value
At 30 March 2024 14,470
At 31 March 2023 18,016
4 Debtors 2024 2023
£ £
Trade debtors 2,165 180
Other debtors 2,436 3,658
4,601 3,838
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 334 2,683
Amounts owed to group undertakings and undertakings in which the company has a participating interest 47 (6,597)
Taxation and social security costs 5,412 5,870
Other creditors 896 350
11,689 2,306
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 21,145 30,907
7 Other information
Plymouth Hearing Centre Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Erme House Station Road
Plympton
Plymouth
Devon
PL7 2AU
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