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REGISTERED NUMBER: 09109538 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

AUDIOLOGICAL SCIENCE LIMITED

AUDIOLOGICAL SCIENCE LIMITED (REGISTERED NUMBER: 09109538)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 5

AUDIOLOGICAL SCIENCE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: A A Aaronson
Mrs B Aaronson





REGISTERED OFFICE: 5 Hoop Lane
Golders Green
London
NW11 8JR





REGISTERED NUMBER: 09109538 (England and Wales)





ACCOUNTANTS: KBSP Partners LLP
Chartered Accountants
Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH

AUDIOLOGICAL SCIENCE LIMITED (REGISTERED NUMBER: 09109538)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 157,707 70,774
Investment property 5 569,397 189,729
727,104 260,503

CURRENT ASSETS
Stocks 256,356 118,466
Debtors 6 909,441 138,681
Cash at bank 4,214,848 2,395,066
5,380,645 2,652,213
CREDITORS
Amounts falling due within one year 7 1,885,490 899,059
NET CURRENT ASSETS 3,495,155 1,753,154
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,222,259

2,013,657

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 4,222,257 2,013,655
SHAREHOLDERS' FUNDS 4,222,259 2,013,657

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2024 and were signed on its behalf by:





D Patel - Director


AUDIOLOGICAL SCIENCE LIMITED (REGISTERED NUMBER: 09109538)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Audiological Science Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities"of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and medical supplies, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Investment property
In accordance with Section 16 of Investment Properties of FRS102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", investment properties are measured at cost at initial recognition. The cost of a purchased investment property comprises its purchase price and any directly attributable expenditure such as legal, property transfer taxes and other transactions costs.
Investment properties are revalued annually, and subsequently measured and included in the accounts at fair value at each year end. Any surplus or deficit on revaluation is recognised initially in the profit and loss account.All revaluation movements are transferred to a non-distributable reserve called "Non-distributable fair value reserve", unless a deficit below original cost, or its reversal, on an individual property is expected to be permanent in which case it remains in the profit and loss account reserve.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 20 ) .

AUDIOLOGICAL SCIENCE LIMITED (REGISTERED NUMBER: 09109538)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2023 40,354 50,500 26,168 117,022
Additions 425 92,870 28,428 121,723
At 31 January 2024 40,779 143,370 54,596 238,745
DEPRECIATION
At 1 February 2023 11,157 19,207 15,884 46,248
Charge for year 6,861 23,032 4,897 34,790
At 31 January 2024 18,018 42,239 20,781 81,038
NET BOOK VALUE
At 31 January 2024 22,761 101,131 33,815 157,707
At 31 January 2023 29,197 31,293 10,284 70,774

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 189,729
Additions 379,668
At 31 January 2024 569,397
NET BOOK VALUE
At 31 January 2024 569,397
At 31 January 2023 189,729

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 907,841 109,511
Other debtors 1,600 29,170
909,441 138,681

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 746,648 416,609
Tax 707,911 183,603
Social security and other taxes 34,456 15,399
VAT 9,067 -
Other creditors 97,406 57,580
Directors' current accounts 223,080 222,478
Accruals and Deferred Income 66,922 3,390
1,885,490 899,059

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
AUDIOLOGICAL SCIENCE LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Audiological Science Limited for the year ended 31 January 2024 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Audiological Science Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Audiological Science Limited and state those matters that we have agreed to state to the Board of Directors of Audiological Science Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Audiological Science Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Audiological Science Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Audiological Science Limited. You consider that Audiological Science Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Audiological Science Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






KBSP Partners LLP
Chartered Accountants
Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH


29 October 2024