HEARING DIRECT LIMITED

HEARING DIRECT LIMITED - Company Information

Companies House 2016-04-01 2017-03-31 2017-03-31 false iso4217:GBP xbrli:pure 06967190 2015-04-01 2016-03-31 06967190 2017-03-31 06967190 2016-04-01 2017-03-31 06967190 2016-03-31 06967190 curr:PoundSterling 2016-04-01 2017-03-31 06967190 uk-bus:PrivateLimitedCompanyLtd 2016-04-01 2017-03-31 06967190 uk-bus:FRS102 2016-04-01 2017-03-31 06967190 uk-bus:AuditExempt-NoAccountantsReport 2016-04-01 2017-03-31 06967190 uk-bus:AbridgedAccounts 2016-04-01 2017-03-31 06967190 uk-bus:RegisteredOffice 2016-04-01 2017-03-31 06967190 uk-bus:Director1 2016-04-01 2017-03-31 06967190 uk-bus:Director2 2016-04-01 2017-03-31 06967190 uk-bus:Director3 2016-04-01 2017-03-31 06967190 uk-bus:CompanySecretary1 2016-04-01 2017-03-31 06967190 core:AfterOneYear 2017-03-31 06967190 core:AfterOneYear 2016-03-31 06967190 core:WithinOneYear 2017-03-31 06967190 core:WithinOneYear 2016-03-31 06967190 core:WithinOneYear 2016-04-01 2017-03-31 06967190 core:AfterOneYear 2017-03-31 06967190 core:AfterOneYear 2016-03-31 06967190 core:AfterOneYear 2016-04-01 2017-03-31 06967190 core:ShareCapital 2017-03-31 06967190 core:ShareCapital 2016-03-31 06967190 core:SharePremium 2017-03-31 06967190 core:SharePremium 2016-03-31 06967190 core:OtherReservesSubtotal 2017-03-31 06967190 core:OtherReservesSubtotal 2016-03-31 06967190 core:RevaluationReserve 2017-03-31 06967190 core:RevaluationReserve 2016-03-31 06967190 core:RetainedEarningsAccumulatedLosses 2017-03-31 06967190 core:RetainedEarningsAccumulatedLosses 2016-03-31 06967190 core:Associate1 2016-04-01 2017-03-31 06967190 core:Associate1 2016-03-31 06967190 core:Associate1 2017-03-31 06967190 core:Associate1 2016-04-01 2017-03-31 06967190 core:Associate2 2016-04-01 2017-03-31 06967190 core:Associate2 2016-04-01 2017-03-31 06967190 uk-bus:Director1 1 2016-04-01 2017-03-31 06967190 uk-bus:Director1 1 2016-03-31 06967190 uk-bus:Director1 1 2017-03-31 06967190 uk-bus:Director2 2 2016-04-01 2017-03-31 06967190 uk-bus:Director2 2 2016-03-31 06967190 uk-bus:Director2 2 2017-03-31 06967190 uk-bus:Director1 3 2016-04-01 2017-03-31 06967190 uk-bus:Director1 3 2016-03-31 06967190 uk-bus:Director1 3 2017-03-31 06967190 1 2016-04-01 2017-03-31 06967190 2 2016-04-01 2017-03-31 06967190 3 2016-04-01 2017-03-31

Company Registration Number:
06967190 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2017

Period of accounts

Start date: 01 April 2016

End date: 31 March 2017

Contents of the Financial Statements

for the Period Ended 31 March 2017


Balance sheet
Notes

Balance sheet

As at 31 March 2017

	Notes	2017	2016
		£	£
Fixed assets
Intangible assets:	3	150,575	57,703
Tangible assets:	4	8,941	5,297
Investments:		0	0
Total fixed assets:		159,516	63,000
Current assets
Stocks:		284,910	224,319
Debtors:		75,581	55,872
Cash at bank and in hand:		152,774	154,171
Investments:		0	0
Total current assets:		513,265	434,362
Creditors: amounts falling due within one year:		(631,823)	(442,703)
Net current assets (liabilities):		(118,558)	(8,341)
Total assets less current liabilities:		40,958	54,659
Creditors: amounts falling due after more than one year:	5	(180,117)	(180,117)
Provision for liabilities:		0	0
Total net assets (liabilities):		(139,159)	(125,458)
Capital and reserves
Called up share capital:		104,964	104,964
Share premium account:		291,042	291,042
Profit and loss account:		(535,165)	(521,464)
Shareholders funds:		(139,159)	(125,458)

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 March 2017 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 20 December 2017
and signed on behalf of the board by:

Name: Stuart Canterbury
Status: Director

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 March 2017

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax

Tangible fixed assets and depreciation policy

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and impairment losses. Depreciation is provided at 33% per annum on cost straight line.

Intangible fixed assets and amortisation policy

Intangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and impairment losses. Depreciation is provided at 320% per annum on cost straight line.

Valuation and information policy

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 stocks to their present location and condition

Other accounting policies

FOREIGN CURRENCYAssets and liabilities in foreign currencies are translated into sterling at the rates ruling at the balance sheet date. Transactions in foreign currency are translated into sterling at the rate of exchange applied to each settlement by the company’s bankers and merchant service providers. Exchange differences are taken into account in arriving at the operating result.PENSION COSTSThe company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.CASH RESOURCECash resource comprises cash on hand and call deposits and monies awaiting remittance to the company’s bank accounts held by the company’s merchant service providers that are readily convertible to a known amount of cash and are subject to an insignificant risk of change of value.

Notes to the Financial Statements

for the Period Ended 31 March 2017

2. Employees

	2017	2016
Average number of employees during the period	16	12

Notes to the Financial Statements

for the Period Ended 31 March 2017

3. Intangible Assets

	Total
Cost	£
At 01 April 2016	76,398
Additions	105,593
Disposals	0
Revaluations	0
Transfers	0
At 31 March 2017	181,991
Amortisation
At 01 April 2016	18,695
Charge for year	12,721
On disposals	0
Other adjustments	0
At 31 March 2017	31,416
Net book value
At 31 March 2017	150,575
At 31 March 2016	57,703

Notes to the Financial Statements

for the Period Ended 31 March 2017

4. Tangible Assets

	Total
Cost	£
At 01 April 2016	15,406
Additions	5,897
Disposals	0
Revaluations	0
Transfers	0
At 31 March 2017	21,303
Depreciation
At 01 April 2016	10,109
Charge for year	2,253
On disposals	0
Other adjustments	0
At 31 March 2017	12,362
Net book value
At 31 March 2017	8,941
At 31 March 2016	5,297

Notes to the Financial Statements

for the Period Ended 31 March 2017

5. Creditors: amounts falling due after more than one year note

Creditors falling due after more than five years £170117Redeemable Preference shares included in the abov £155000

Notes to the Financial Statements

for the Period Ended 31 March 2017

6. Changes in presentation and prior period adjustments

This is the first year that the company has presented its results under FRS 102 section 1A small entities. The last financial statements under UK GAAP were for the period ended 31st March 2016. The statutory requirement for transition to FRS 102 Section 1A small entities was for accounting years commencing after the 1st January 2016. There are no changes to accounting policies which reconcile profit for the financial year ended 31st March 2016. The changes have no impact on the total equity as at 31st March 2015 and 31st March 2016 between UK GAAP as previously reported and FRS 102 Section 1A Small Entities.

HEARING DIRECT LIMITED