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REGISTERED NUMBER: 07801403 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Earz Ltd
Trading as
Honiton Hearing Centre

Earz Ltd (Registered number: 07801403)
Trading as Honiton Hearing Centre

Contents of the Financial Statements
for the Year Ended 31 October 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Earz Ltd
Trading as Honiton Hearing Centre

Company Information
for the Year Ended 31 October 2024







DIRECTORS: A J Bird
Mrs A M Bird





REGISTERED OFFICE: 12 New Street
Honiton
Devon
EX14 1EY





REGISTERED NUMBER: 07801403 (England and Wales)





ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS

Earz Ltd (Registered number: 07801403)
Trading as Honiton Hearing Centre

Statement of Financial Position
31 October 2024

31/10/24 31/10/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 42,223 30,286
42,223 30,286

CURRENT ASSETS
Stocks 1,006 2,763
Debtors 6 8,020 6,168
Cash at bank and in hand 188,868 211,215
197,894 220,146
CREDITORS
Amounts falling due within one year 7 190,765 201,049
NET CURRENT ASSETS 7,129 19,097
TOTAL ASSETS LESS CURRENT
LIABILITIES

49,352

49,383

PROVISIONS FOR LIABILITIES 7,501 7,572
NET ASSETS 41,851 41,811

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 41,751 41,711
SHAREHOLDERS' FUNDS 41,851 41,811

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Earz Ltd (Registered number: 07801403)
Trading as Honiton Hearing Centre

Statement of Financial Position - continued
31 October 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 March 2025 and were signed on its behalf by:





A J Bird - Director


Earz Ltd (Registered number: 07801403)
Trading as Honiton Hearing Centre

Notes to the Financial Statements
for the Year Ended 31 October 2024


1. STATUTORY INFORMATION

Earz Ltd 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 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business, has been fully amortised evenly over its estimated useful life of 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Website - 15% on reducing balance

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 Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Earz Ltd (Registered number: 07801403)
Trading as Honiton Hearing Centre

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid 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 5 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
At 1 November 2023
and 31 October 2024 40,800
Amortisation
At 1 November 2023
and 31 October 2024 40,800
Net book value
At 31 October 2024 -
At 31 October 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Website Totals
£    £    £    £   
Cost
At 1 November 2023 49,077 - 11,708 60,785
Additions 6,303 13,000 - 19,303
Disposals (1,825 ) - - (1,825 )
At 31 October 2024 53,555 13,000 11,708 78,263
Depreciation
At 1 November 2023 23,126 - 7,373 30,499
Charge for year 4,721 1,219 650 6,590
Eliminated on disposal (1,049 ) - - (1,049 )
At 31 October 2024 26,798 1,219 8,023 36,040
Net book value
At 31 October 2024 26,757 11,781 3,685 42,223
At 31 October 2023 25,951 - 4,335 30,286

Earz Ltd (Registered number: 07801403)
Trading as Honiton Hearing Centre

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/24 31/10/23
£    £   
Trade debtors 2,570 3,181
Other debtors 5,450 2,987
8,020 6,168

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/24 31/10/23
£    £   
Trade creditors 35,566 22,733
Amounts owed to group undertakings 106,888 128,000
Taxation and social security 34,784 36,935
Other creditors 13,527 13,381
190,765 201,049

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/10/24 31/10/23
£    £   
Within one year 14,000 14,000
Between one and five years 56,000 56,000
In more than five years 35,000 49,000
105,000 119,000

9. RELATED PARTY DISCLOSURES

A & A Bird Holdings Ltd
Parent company

A loan exists between the company and its parent company A & A Bird Holdings Ltd. At 31 October 2024, the company owed A & A Bird Holdings Ltd £106,888 (2023 - £128,000). The loan is interest free with no fixed repayment terms.

10. ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking is A & A Bird Holdings Ltd, a company registered in England and Wales. The company is controlled by A J Bird and Mrs A M Bird, directors of Earz Ltd. A & A Bird Holdings Ltd has taken the option under Section 399(2A) of the Companies Act 2006 not to prepare consolidated financial statements.