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Registered Number: 09311187
England and Wales

 

 

 


Abridged Accounts

for the year ended 30 November 2023

for

AUDIOLOGY ASSOCIATES LIMITED

 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 123,668    55,437 
123,668    55,437 
Current assets      
Stocks 22,610    21,871 
Debtors 7,211    3,652 
Cash at bank and in hand 33,683    48,275 
63,504    73,798 
Creditors: amount falling due within one year (37,690)   (56,892)
Net current assets 25,814    16,906 
 
Total assets less current liabilities 149,482    72,343 
Creditors: amount falling due after more than one year (125,513)   (44,388)
Provisions for liabilities (23,382)   (9,805)
Net assets 587    18,150 
 

Capital and reserves
     
Called up share capital 4 10    10 
Capital Redemption Reserve 1    1 
Profit and loss account 576    18,139 
Shareholders' funds 587    18,150 
 


For the 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.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 08 August 2024 and were signed on its behalf by:


-------------------------------
Leah Jay Morris Barber
Director
-------------------------------
Rhys Morris Barber
Director
1
General Information
AUDIOLOGY ASSOCIATES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 09311187, registration address UNIT 3 THE MEWS, MARKET STREET, EBBW VALE, NP23 6FB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 25% Straight Line
Plant and Machinery 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 8 (2022 : 5).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 December 2022 32,423    50,690    3,123    31,111    117,347 
Additions 428    79,369    1,968    4,571    86,336 
Disposals        
At 30 November 2023 32,851    130,059    5,091    35,682    203,683 
Depreciation
At 01 December 2022 24,998    13,465    1,302    22,145    61,910 
Charge for year 3,820    10,960    501    2,824    18,105 
On disposals        
At 30 November 2023 28,818    24,425    1,803    24,969    80,015 
Net book values
Closing balance as at 30 November 2023 4,033    105,634    3,288    10,713    123,668 
Opening balance as at 01 December 2022 7,425    37,225    1,821    8,966    55,437 

The net book value of Plant and Machinery, Computer Equipment includes £ 605 (2022 £3,831) in respect of assets leased under finance leases or hire purchase contracts.

4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
10 Ordinary shares of £1.00 each 10    10 
10    10 

2