Company Registration No. 13541058 (England and Wales)
Hearing Matters (Maidstone) Ltd
Unaudited accounts
for the year ended 31 July 2024
Hearing Matters (Maidstone) Ltd
Company Information
for the year ended 31 July 2024
Directors
Samantha Jane Fairchild
Steven Peter Fairchild
Company Number
13541058 (England and Wales)
Registered Office
Regus 26 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4AE
Hearing Matters (Maidstone) Ltd
Statement of financial position
as at 31 July 2024
Tangible assets
5,468
7,651
Cash at bank and in hand
12,246
6,748
Creditors: amounts falling due within one year
(32,707)
(51,829)
Net current assets
15,848
13,267
Total assets less current liabilities
21,316
20,918
Creditors: amounts falling due after more than one year
(10,720)
(12,293)
Called up share capital
500
500
Profit and loss account
10,096
8,125
Shareholders' funds
10,596
8,625
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2025 and were signed on its behalf by
Samantha Jane Fairchild
Director
Company Registration No. 13541058
Hearing Matters (Maidstone) Ltd
Notes to the Accounts
for the year ended 31 July 2024
Hearing Matters (Maidstone) Ltd is a private company, limited by shares, registered in England and Wales, registration number 13541058. The registered office is Regus 26 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4AE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The company has adopted the going concern basis of accounting in the preparation of these financial statements.
Revenue, described as turnover, is the value of goods provided to customers during the year, plus the value of work performed during the year with respect to services, net of VAT and discounts.
Revenue is recognised on the sale of goods when the goods are delivered and title has passed. Revenue is recognised on the provision of services on a percentage degree of completion basis calculated by reference to the time expended compared to the total anticipated time.
Government grants are recognised under the accrual model meaning that grants relating to revenue shall be recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.
The company operates a defined contribution scheme for the benefit of its employees. The assets of the scheme are held separately from those of the company in independently administered funds. The pension costs charge represents contributions payable for the period by the company to the fund.
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost less estimated residual value,
of each asset evenly over its expected useful life, as follows:
Plant & machinery
25% per annum straight line
Computer equipment
25% per annum straight line
Hearing Matters (Maidstone) Ltd
Notes to the Accounts
for the year ended 31 July 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight-line basis over the period of the lease.
Where assets are financed by leasing agreements that give rights approximating to ownership (finance leases) the assets are treated as if they had been purchased outright. The amount capitalised is the fair value of the asset concerned.
The corresponding liability to the leasing company is included as an obligation under finance leases. Depreciation is charged to the profit and loss account over the shorter of the lease term and their useful lives. Leasing payments are treated as consisting
of capital and interest elements, and interest is charged to the profit and loss account on a straight line basis which is considered to be a reasonable approximation to a constant rate of charge on the outstanding balance.
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11.
Basic financial instruments are recognised at amortised cost using the effective interest method.
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Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 August 2023
8,187
2,664
10,851
At 31 July 2024
8,187
3,229
11,416
At 1 August 2023
2,028
1,172
3,200
Charge for the year
2,047
701
2,748
At 31 July 2024
4,075
1,873
5,948
At 31 July 2024
4,112
1,356
5,468
At 31 July 2023
6,159
1,492
7,651
Amounts falling due within one year
Trade debtors
31,419
41,070
Other debtors
4,890
17,278
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
2,680
-
Obligations under finance leases and hire purchase contracts
9,145
6,422
Trade creditors
17,423
30,762
Taxes and social security
2,203
13,037
Hearing Matters (Maidstone) Ltd
Notes to the Accounts
for the year ended 31 July 2024
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
-
12,293
8
Transactions with related parties
At the balance sheet date, the directors owed the company £4,890 (2023: £17,278) in respect of loans and advances.
These amounts payable to the company are included in other debtors. Loans to directors are unsecured, interest free and repayable on demand.
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Average number of employees
During the year the average number of employees was 1 (2023: 0).