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REGISTERED NUMBER: 09340068 (England and Wales)












AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

HEAD ACOUSTICS UK LTD

HEAD ACOUSTICS UK LTD (REGISTERED NUMBER: 09340068)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HEAD ACOUSTICS UK LTD

COMPANY INFORMATION
for the year ended 30 September 2024







DIRECTOR: A W Shepperson





REGISTERED OFFICE: 10 Davy Court Central Park
Rugby
Warwickshire
CV23 0UZ





REGISTERED NUMBER: 09340068 (England and Wales)





AUDITORS: Magma Audit LLP
Chartered Accountants
Statutory Auditor
Magma House, 16 Davy Court
Castle Mound Way
Rugby
CV23 0UZ

HEAD ACOUSTICS UK LTD (REGISTERED NUMBER: 09340068)

BALANCE SHEET
30 September 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 80,177 59,033

CURRENT ASSETS
Stocks - 20,318
Debtors 5 202,009 353,859
Cash at bank and in hand 177,333 239,820
379,342 613,997
CREDITORS
Amounts falling due within one year 6 (1,273,097 ) (1,425,320 )
NET CURRENT LIABILITIES (893,755 ) (811,323 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(813,578

)

(752,290

)

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings (863,578 ) (802,290 )
(813,578 ) (752,290 )

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 director and authorised for issue on 29 January 2025 and were signed by:





A W Shepperson - Director


HEAD ACOUSTICS UK LTD (REGISTERED NUMBER: 09340068)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 September 2024


1. STATUTORY INFORMATION

HEAD Acoustics UK Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 09340068 and the registered office address is 10 Davy Court Central Park, Rugby, Warwickshire, CV23 0UZ.

2. ACCOUNTING POLICIES

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

The presentation currency of the financial statements is sterling (£) and amounts are rounded to the nearest (£).

Going concern
The company has net current liabilities of £893,755 (2023: £811,323) at the year end and total liabilities of £813,578 (2023: £752,290). The Directors have prepared the financial statements on a going concern basis as the parent company, HEAD Acoustics GmbH, has confirmed it will not call in the loan of £1,060,722 (2023: £1,147,695) until the company has the funds to repay and will ensure that the company continues to receive the financial support required to remain a going concern for at least twelve months from the signing of the financial statements.

Turnover
Turnover comprises of sales of acoustic goods and services and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Fixtures & fittings-20% straight line
Computer equipment-20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

HEAD ACOUSTICS UK LTD (REGISTERED NUMBER: 09340068)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense is recognised as other comprehensive income or to an item recognised directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed at the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating leases
Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 4 (2023 - 3 ) .

HEAD ACOUSTICS UK LTD (REGISTERED NUMBER: 09340068)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 173,546
Additions 45,259
Disposals (72,719 )
At 30 September 2024 146,086
DEPRECIATION
At 1 October 2023 114,513
Charge for year 19,822
Eliminated on disposal (68,426 )
At 30 September 2024 65,909
NET BOOK VALUE
At 30 September 2024 80,177
At 30 September 2023 59,033

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 105,582 250,563
Other debtors 2,021 2,021
Directors' current accounts 3,464 -
Prepayments and accrued income 90,942 101,275
202,009 353,859

Statutory disclosures relating to the amounts due from directors are given in note 9 of the financial statements.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 972 11,298
Amounts owed to group undertakings 1,060,722 1,147,695
Taxation and social security 85,897 107,696
Other creditors 125,506 158,631
1,273,097 1,425,320

7. LEASING AGREEMENTS

Minimum lease payments under non cancellable operating leases fall due as follows:
2024 2023
£ £
Between one and five years 3,000 2,859

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ryan Parkin (Senior Statutory Auditor)
for and on behalf of Magma Audit LLP

HEAD ACOUSTICS UK LTD (REGISTERED NUMBER: 09340068)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024


9. RELATED PARTY DISCLOSURES

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 between the holding company and any with wholly owned subsidiaries within the group.

At the year end, a director owed the company £3,464 (2023: £nil). The maximum outstanding during the year was £3,464 (2023: £nil). The amount is interest free and repayable on demand.

10. ULTIMATE CONTROLLING PARTY

The parent of the smallest group for which consolidated financial statements are prepared is HEAD Acoustics GmbH, this entity's ultimate parent. HEAD Acoustics GmbH's registered office address is HEAD acoustics GmbH Ebertstraße 30a, 52134 Herzogenrath, Germany.