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Registration number: 05167657

Audiology Limited

Annual Report and Unaudited Financial Statements

For The Year Ended 31 July 2024

 

Audiology Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Audiology Limited

(Registration number: 05167657)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

4

 

7,853

 

15,703

Current assets

   

 

Debtors

5

-

 

148,672

 

Cash at bank and in hand

 

296,367

 

79,451

 

 

296,367

 

228,123

 

Creditors: Amounts falling due within one year

6

(83,899)

 

(27,091)

 

Net current assets

   

212,468

 

201,032

Total assets less current liabilities

   

220,321

 

216,735

Provisions for liabilities

 

(1,963)

 

(3,926)

Net assets

   

218,358

 

212,809

Capital and reserves

   

 

Called up share capital

1

 

1

 

Profit and loss account

218,357

 

212,808

 

Total equity

   

218,358

 

212,809

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 10 April 2025
 

.........................................
Mr P.J. Lydon
Director

 

Audiology Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
18 Coniston Road
Kings Langley
Watford
WD4 8BU
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

The financial statements have been prepared using the historical cost convention.

The financial statements are presented in Sterling (£).

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the company.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Audiology Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 July 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

20% on cost

Office equipment

33% on cost

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Office equipment
£

Plant and equipment
£

Total
£

Cost or valuation

At 1 August 2023

4,925

39,253

44,178

At 31 July 2024

4,925

39,253

44,178

Depreciation

At 1 August 2023

4,925

23,550

28,475

Charge for the year

-

7,850

7,850

At 31 July 2024

4,925

31,400

36,325

Carrying amount

At 31 July 2024

-

7,853

7,853

At 31 July 2023

-

15,703

15,703

 

Audiology Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 July 2024

5

Debtors

Debtors: amounts falling due within one year

2024
£

2023
£

Trade debtors

-

47,464

Other debtors

-

101,208

 

-

148,672

Other debtors include a net loan to the director of the company of £Nil (2023 £101,208). The loan was repaid to the company during the current financial period.

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

14,512

26,981

Other creditors

69,387

110

83,899

27,091