Company registration number 08454732 (England and Wales)
OWEN HEARING CARE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
OWEN HEARING CARE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
OWEN HEARING CARE LIMITED
BALANCE SHEET
AS AT 31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
76,908
47,841
Current assets
Stocks
2,032
2,180
Debtors
4
233,197
229,450
Cash at bank and in hand
322,665
437,097
557,894
668,727
Creditors: amounts falling due within one year
5
(92,510)
(97,396)
Net current assets
465,384
571,331
Total assets less current liabilities
542,292
619,172
Provisions for liabilities
(15,900)
(10,200)
Net assets
526,392
608,972
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
526,292
608,872
Total equity
526,392
608,972

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 29 July 2025
Mr J E Owen
Director
Company registration number 08454732 (England and Wales)
OWEN HEARING CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information

Owen Hearing Care Limited is a private company limited by shares incorporated in England and Wales. The registered office and business address is 85 High Street, West Wickham, Kent, BR4 0LS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. Revenue from the sale of hearing aids is recognised when the aid is fitted.

1.3
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation.

Depreciation is recognised so as to write off the cost of assets over their useful lives on the following bases:

Leasehold improvements
Over the term of the lease
Fixtures and fittings
15% reducing balance basis and 25% and 33% on cost
1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price.

1.5
Financial instruments

The company has elected to apply the recognition and measurement provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and bank balances, are measured at transaction price.

Basic financial liabilities

Basic financial liabilities, including creditors, are recognised at transaction price.

1.6
Taxation

The tax expense represents the sum of the tax currently payable or receivable and deferred tax.

OWEN HEARING CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 3 -
Current tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leasing

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
10
8
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 August 2023
12,156
76,407
88,563
Additions
13,000
40,930
53,930
Disposals
-
0
(14,257)
(14,257)
At 31 July 2024
25,156
103,080
128,236
Depreciation and impairment
At 1 August 2023
5,483
35,239
40,722
Depreciation charged in the year
6,541
13,315
19,856
Eliminated in respect of disposals
-
0
(9,250)
(9,250)
At 31 July 2024
12,024
39,304
51,328
Carrying amount
At 31 July 2024
13,132
63,776
76,908
At 31 July 2023
6,673
41,168
47,841
OWEN HEARING CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
50
25
Other debtors
233,147
229,425
233,197
229,450

Other debtors includes an amount of £181,371 (2023 - £188,911) due to the company from the director.

5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
36,852
30,301
Taxation and social security
35,710
48,785
Other creditors
19,948
18,310
92,510
97,396
6
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
136,919
174,390

The lease commitments primarily relate to rent payable to December 2026 in respect of properties occupied by the company.

7
Director's transactions

During the year the company made advances totalling £183,947 (2023 - £192,381) to the director. The advances were repayable on demand and incurred interest at HM Revenue & Customs approved rates. Repayments totalling £191,487 (2023 - £90,503) were made during the year.

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