Acorah Software Products - Accounts Production 15.0.600 false true true 31 March 2023 29 April 2022 false 3 September 2024 1 April 2023 31 March 2024 31 March 2024 05659065 Mr Abaid Raza Ms Karen Gallagher Mr Paul Minikin true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05659065 2023-03-31 05659065 2024-03-31 05659065 2023-04-01 2024-03-31 05659065 frs-core:CurrentFinancialInstruments 2024-03-31 05659065 frs-core:ComputerEquipment 2024-03-31 05659065 frs-core:ComputerEquipment 2023-04-01 2024-03-31 05659065 frs-core:ComputerEquipment 2023-03-31 05659065 frs-core:FurnitureFittings 2024-03-31 05659065 frs-core:FurnitureFittings 2023-04-01 2024-03-31 05659065 frs-core:FurnitureFittings 2023-03-31 05659065 frs-core:WithinOneYear 2024-03-31 05659065 frs-core:ShareCapital 2024-03-31 05659065 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 05659065 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05659065 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 05659065 frs-bus:SmallEntities 2023-04-01 2024-03-31 05659065 frs-bus:Audited 2023-04-01 2024-03-31 05659065 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05659065 1 2023-04-01 2024-03-31 05659065 frs-bus:Director1 2023-04-01 2024-03-31 05659065 frs-bus:Director2 2023-04-01 2024-03-31 05659065 frs-bus:Director3 2023-04-01 2024-03-31 05659065 frs-countries:EnglandWales 2023-04-01 2024-03-31 05659065 2022-04-28 05659065 2023-03-31 05659065 2022-04-29 2023-03-31 05659065 frs-core:CurrentFinancialInstruments 2023-03-31 05659065 frs-core:BetweenOneFiveYears 2023-03-31 05659065 frs-core:WithinOneYear 2023-03-31 05659065 frs-core:ShareCapital 2023-03-31 05659065 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 05659065
Digital Hearing Care Solutions Ltd
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—5
Page 1
Balance Sheet
Registered number: 05659065
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 16,693 19,439
16,693 19,439
CURRENT ASSETS
Stocks 5 165,132 170,535
Debtors 6 1,396,090 961,541
Cash at bank and in hand 422,574 481,315
1,983,796 1,613,391
Creditors: Amounts Falling Due Within One Year 7 (198,631 ) (169,891 )
NET CURRENT ASSETS (LIABILITIES) 1,785,165 1,443,500
TOTAL ASSETS LESS CURRENT LIABILITIES 1,801,858 1,462,939
NET ASSETS 1,801,858 1,462,939
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 1,801,758 1,462,839
SHAREHOLDERS' FUNDS 1,801,858 1,462,939
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 Abaid Raza
Director
Mr Paul Minikin
Director
03/09/2024
The notes on pages 2 to 5 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Digital Hearing Care Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05659065 . The registered office is 22 Belton Road, Silsden, KEIGHLEY, BD20 0EE.
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. Going Concern Disclosure
These financial statements have been prepared on a going concern basis. When concluding on the use of the
going concern basis in preparing the financial statements, the directors have reviewed the results to date and
forecast to 31 December 2025. After taking into the account the possible changes in the trading activity due to
current economic conditions and the cost of living crisis, the directors are of the view that sufficient resources
will be available to the allow the Company to meet its financial liabilities as they fall due.
Based on their considerations and enquiries, the directors have no reason to believe that a material uncertainty
exists and have a reasonable expectation that the company would be able to continue as a going concern for the
foreseeable future and the directors accordingly continued to adopt the going concern basis of accounting in the
preparation of these financial statements.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from 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.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Fixtures & Fittings 15% reducing balance
Computer Equipment 33% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. 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 years 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 assets reflect 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.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and
assumptions that affect the application of the accounting policies and the reported amounts of assets and
liabilities, revenue and expenses. Actual results may differ from these estimates. Estimates and underlying
assumptions are continually evaluated and are based on historical experience and other factors, including
expectations of future events that are reasonable under the circumstances. Revisions to accounting estimates are
recognised in the period in which the estimates are revised and in any future periods affected.
2.9. Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party
transactions with wholly owned subsidiaries within the group.
2.10. Accounting estimates
Due to the simplicity of the business, Digital Hearing Care Ltd has no complex accounting estimates.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 33,615 12,352 45,967
Additions - 602 602
As at 31 March 2024 33,615 12,954 46,569
...CONTINUED
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Depreciation
As at 1 April 2023 15,049 11,479 26,528
Provided during the period 2,785 563 3,348
As at 31 March 2024 17,834 12,042 29,876
Net Book Value
As at 31 March 2024 15,781 912 16,693
As at 1 April 2023 18,566 873 19,439
5. Stocks
31 March 2024 31 March 2023
£ £
Stock 165,132 170,535
6. Debtors
31 March 2024 31 March 2023
£ £
Due within one year
Trade debtors 144,423 184,417
Prepayments and accrued income 1,667 1,667
Corporation tax recoverable assets - 25,457
Amounts owed by group undertakings 1,250,000 750,000
1,396,090 961,541
7. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
£ £
Trade creditors 8,980 16,096
Corporation tax 113,922 76,787
Other taxes and social security 4,453 4,409
VAT 35,778 37,599
Accruals and deferred income 35,498 35,000
198,631 169,891
8. Share Capital
31 March 2024 31 March 2023
£ £
Allotted, Called up and fully paid 100 100
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9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
31 March 2024 31 March 2023
£ £
Not later than one year 13,333 20,000
Later than one year and not later than five years - 13,333
13,333 33,333
10. Pension Commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately
from those of the Company in an independently administered fund. The pension cost charge represents
contributions payable by the Company to the fund and amounted to £2,888 (2023: £2,248). Contributions
totalling £Nil (2023 - £Nil) were payable to the fund at the balance sheet date.
11. Related Party Transactions
The Company has taken advantage of the exemption available in Section 33 of FRS 102 "The Financial
Reporting Standard applicable in the UK and Republic of Ireland" related party disclosures from the
requirement to disclose transactions with wholly owned group companies.
12. Ultimate Controlling Party
The immediate Parent Company of the Company is DHCS Newco Limited a company registered in the United
Kingdom.
The ultimate controlling party is Sonova Group AG, which is the parent undertaking of the smallest and largest
group into which the Company's results are consolidated. Copies of its group financial statements are available
from Sonova Holding AG, Laubisrütistrasse 28, 8712 Stäfa, Switzerland.
13. Audit Information
The auditors report on the account of Digital Hearing Care Solutions Ltd for the year ended 31 March 2024 was unqualified
The auditor's report was signed by Christopher Martin (Senior Statutory Auditor) for and on behalf of Forvis Mazars LLP , Statutory Auditor
Forvis Mazars LLP
One St Peter’s Square
Manchester
M2 3DE
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