North Notts Hearing Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 13720395

North Notts Hearing Limited

Filleted Unaudited Financial Statements

31 December 2024

North Notts Hearing Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	6		43,805	54,123

Current assets

Stocks		2,500	7,006
Debtors	7	11,667	15,504
Cash at bank and in hand		30,626	48,437
		--------	--------
		44,793	70,947

Creditors: amounts falling due within one year	8	89,075		106,582
		--------		---------
Net current liabilities			44,282	35,635
			--------	--------
Total assets less current liabilities			( 477)	18,488

Creditors: amounts falling due after more than one year	9		16,085	17,998

Provisions	5,163	6,721
	--------	--------
Net liabilities	( 21,725)	( 6,231)
	--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 21,825)	( 6,331)
	--------	-------
Shareholders deficit	( 21,725)	( 6,231)
	--------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;

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

North Notts Hearing Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 17 September 2025 , and are signed on behalf of the board by:

Mr I Arnold
Director

Company registration number: 13720395

North Notts Hearing Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Lyndhurst, 1 Cranmer Street, Long Eaton, Nottingham, NG10 1NJ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

In the opinion of the director, the company remains a going concern and the accounts have been prepared on that basis. Should this cease to be the case, the assets and liabilities would need to be restated to their recoverable amounts.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures, fittings and equipment	-	25% reducing balance
Leasehold property improvements	-	15% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).

5. Operating lease commitments

The total future minimum lease payments under operating leases is £82,000 (2023: £106,000)

6. Tangible assets

	Fixtures, fittings and equipment	Leasehold property impr'ments	Total
	£	£	£
Cost
At 1 January 2024	40,057	36,686	76,743
Additions	505	–	505
	--------	--------	--------
At 31 December 2024	40,562	36,686	77,248
	--------	--------	--------
Depreciation
At 1 January 2024	13,917	8,703	22,620
Charge for the year	6,625	4,198	10,823
	--------	--------	--------
At 31 December 2024	20,542	12,901	33,443
	--------	--------	--------
Carrying amount
At 31 December 2024	20,020	23,785	43,805
	--------	--------	--------
At 31 December 2023	26,140	27,983	54,123
	--------	--------	--------

7. Debtors

	2024	2023
	£	£
Trade debtors	1,237	5,398
Amounts owed by group undertakings and undertakings in which the company has a participating interest	3,611	5,871
Other debtors	6,819	4,235
	--------	--------
	11,667	15,504
	--------	--------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	1,662	19,962
Amounts owed to group undertakings and undertakings in which the company has a participating interest	76,844	72,731
Corporation tax	–	3,108
Other creditors	10,569	10,781
	--------	---------
	89,075	106,582
	--------	---------

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Other creditors	16,085	17,998
	--------	--------

10. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2024
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr I Arnold	4,000	3,172	( 620)	6,552
	-------	-------	----	-------

	2023
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr I Arnold	( 11,652)	35,958	( 20,306)	4,000
	--------	--------	--------	-------

The director's loan is interest free and repayable on demand.

11. Controlling party

The company is controlled by Eye2ear Limited, a company registered in England and Wales. The ultimate controlling party is Mr I Arnold .