REGISTERED NUMBER: 02962104 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

HEADSET SERVICES LTD.

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr N F Smith

Mr G W Harvey

REGISTERED OFFICE:

Laurence Walter House

Addison Road

Chilton Industrial Estate

Sudbury

Suffolk

CO10 2YW

REGISTERED NUMBER:

02962104 (England and Wales)

SENIOR STATUTORY AUDITOR:

Mr Adam Moody FCCA

AUDITORS:

Xeinadin Audit Limited

Statutory Auditor

Maple House, Level 5A

149 Tottenham Court Road

London

W1T 7NF

CURRENT ASSETS

Stocks

140,438

181,787

Debtors

886,145

1,043,464

Cash at bank

1,286,503

900,156

2,313,086

2,125,407

CREDITORS

Amounts falling due within one year

147,308

130,892

NET CURRENT ASSETS

2,165,778

1,994,515

TOTAL ASSETS LESS CURRENT LIABILITIES

2,165,778

1,994,515

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,165,678

1,994,415

SHAREHOLDERS' FUNDS

2,165,778

1,994,515

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 October 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 July 2026 and were signed on its behalf by:

Mr G W Harvey - Director

1.	STATUTORY INFORMATION

Headset Services Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The items in the financial statements where these judgements and estimates have been made include:

- assessing the useful economic lives attributed to tangible fixed assets used to determine the annual depreciation charge;

- the provision required for any bad or doubtful debts, and

- the provision for any slow moving or obsolete stock.

Turnover

Turnover represents the invoiced value of goods and services supplied to external customers, excluding value added tax. Turnover is recognised and a debtor recorded once all obligations under the sales order have been performed subject to adjustments for work in progress at the year end.

Turnover is recognised when goods and services are delivered and legal title is passed to customers.

Stocks

Stock and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow Group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company also operates a fully insured defined contribution pension scheme for certain members of staff and the pension charge represents the amounts paid by the company to the fund during the year. These contributions are invested separately from the company's assets.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 2 ) .

4.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Adam Moody FCCA - Senior Statutory Auditor

for and on behalf of Xeinadin Audit Limited

5.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

At the previous balance sheet date the company was owed £77,063 by companies within the HBS Group Trustees Ltd, an Employee Ownership Trust, of which one of the directors is a trustee.

6.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

7.	POST BALANCE SHEET EVENTS

On the 24th November 2025, MEL Aviation Trustee limited (an Employee Ownership Trust) acquired 70% of MEL Aviation Limited. The Trustees of the Employee Ownership Trust are Mr G W Harvey, Mr K J Vincent and Mr A Lansdell.

8.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of MEL Aviation Ltd. At the balance sheet date, Mr G W Harvey and Mr N F Smith each held 50% of the shares in MEL Aviation Ltd.