Hearing Centre Lincoln Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 13975010

Hearing Centre Lincoln Ltd

Filleted Unaudited Financial Statements

31 December 2024

Hearing Centre Lincoln Ltd

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	6		15,029	19,889

Current assets

Stocks		250	250
Debtors	7	7,370	1,903
Cash at bank and in hand		6,149	19,339
		--------	--------
		13,769	21,492

Creditors: amounts falling due within one year	8	37,436		47,574
		--------		--------
Net current liabilities			23,667	26,082
			--------	--------
Total assets less current liabilities			( 8,638)	( 6,193)

Creditors: amounts falling due after more than one year	9		11,360	13,198

Provisions	2,856	4,972
	--------	--------
Net liabilities	( 22,854)	( 24,363)
	--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 22,954)	( 24,463)
	--------	--------
Shareholders deficit	( 22,854)	( 24,363)
	--------	--------

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 .

Hearing Centre Lincoln Ltd

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: 13975010

Hearing Centre Lincoln Ltd

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 and Wales. The address of the registered office is Arnold Hearing Specialists, Cabourne Court, Cabourne Avenue, Lincoln, LN2 2JP.

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. 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. 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 and fittings	-	25% 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.

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).

5. Operating lease commitments

The total future minimum lease payments under operating leases is £61,500 (2023: £79,500).

6. Tangible assets

	Fixtures and fittings and equipment
	£
Cost
At 1 January 2024	30,969
Additions	119
	--------
At 31 December 2024	31,088
	--------
Depreciation
At 1 January 2024	11,080
Charge for the year	4,979
	--------
At 31 December 2024	16,059
	--------
Carrying amount
At 31 December 2024	15,029
	--------
At 31 December 2023	19,889
	--------

7. Debtors

	2024	2023
	£	£
Trade debtors	6,413	1,684
Other debtors	957	219
	-------	-------
	7,370	1,903
	-------	-------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	6,529	13,557
Amounts owed to group undertakings and undertakings in which the company has a participating interest	25,574	24,241
Corporation tax	997	1,865
Other creditors	4,336	7,911
	--------	--------
	37,436	47,574
	--------	--------

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

	2024	2023
	£	£
Other creditors	11,360	13,198
	--------	--------

10. Director's advances, credits and guarantees

The balance owed to the director at 31 December amounted to £47 (2023:£Nil). The 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 .