Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2021-01-01falseNo description of principal activity44true 12469280 2021-01-01 2021-12-31 12469280 2020-02-18 2020-12-31 12469280 2021-12-31 12469280 2020-12-31 12469280 c:Director3 2021-01-01 2021-12-31 12469280 d:PlantMachinery 2021-01-01 2021-12-31 12469280 d:PlantMachinery 2021-12-31 12469280 d:PlantMachinery 2020-12-31 12469280 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 12469280 d:CurrentFinancialInstruments 2021-12-31 12469280 d:CurrentFinancialInstruments 2020-12-31 12469280 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 12469280 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 12469280 d:ShareCapital 2021-12-31 12469280 d:ShareCapital 2020-02-18 2020-12-31 12469280 d:ShareCapital 2020-12-31 12469280 d:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 12469280 d:RetainedEarningsAccumulatedLosses 2021-12-31 12469280 d:RetainedEarningsAccumulatedLosses 2020-02-18 2020-12-31 12469280 d:RetainedEarningsAccumulatedLosses 2020-12-31 12469280 d:AcceleratedTaxDepreciationDeferredTax 2021-12-31 12469280 d:AcceleratedTaxDepreciationDeferredTax 2020-12-31 12469280 c:OrdinaryShareClass1 2021-01-01 2021-12-31 12469280 c:OrdinaryShareClass1 2021-12-31 12469280 c:OrdinaryShareClass1 2020-12-31 12469280 c:FRS102 2021-01-01 2021-12-31 12469280 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 12469280 c:FullAccounts 2021-01-01 2021-12-31 12469280 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12469280










MEDISPACE DIAGNOSTICS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

 
MEDISPACE DIAGNOSTICS LTD
REGISTERED NUMBER: 12469280

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
10,523
-

  
10,523
-

Current assets
  

Debtors: amounts falling due within one year
 5 
767,238
414,970

Cash at bank and in hand
 6 
88,956
134,601

  
856,194
549,571

Creditors: amounts falling due within one year
 7 
(564,401)
(500,208)

Net current assets
  
 
 
291,793
 
 
49,363

Total assets less current liabilities
  
302,316
49,363

Provisions for liabilities
  

Deferred tax
  
(1,999)
-

  
 
 
(1,999)
 
 
-

Net assets
  
300,317
49,363


Capital and reserves
  

Called up share capital 
 9 
20,000
20,000

Profit and loss account
  
280,317
29,363

  
300,317
49,363


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
MEDISPACE DIAGNOSTICS LTD
REGISTERED NUMBER: 12469280

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2021

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J Verweij
Director

Date: 31 August 2022

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 
MEDISPACE DIAGNOSTICS LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2021


Called up share capital
Profit and loss account
Total equity

£
£
£


Comprehensive income for the period

Profit for the period

-
29,363
29,363

Shares issued during the period
20,000
-
20,000



At 1 January 2021
20,000
29,363
49,363


Comprehensive income for the year

Profit for the year
-
250,954
250,954


At 31 December 2021
20,000
280,317
300,317


The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
MEDISPACE DIAGNOSTICS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Medispace Diagnostics Ltd is private company limited by shares and incorporated  in England and Wales. The registered office is Warrington Cinnamon House, Cinnamon Park, Crab Line, Fearnhead, Warrington, England, WA2 0XP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
MEDISPACE DIAGNOSTICS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
MEDISPACE DIAGNOSTICS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 6

 
MEDISPACE DIAGNOSTICS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2020 - 4).


4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


Additions
11,773



At 31 December 2021

11,773



Depreciation


Charge for the year on owned assets
1,250



At 31 December 2021

1,250



Net book value



At 31 December 2021
10,523



At 31 December 2020
-

Page 7

 
MEDISPACE DIAGNOSTICS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

5.


Debtors

2021
2020
£
£


Trade debtors
78,530
272,224

Amounts owed by group undertakings
69,030
-

VAT repayable
55,857
-

Prepayments and accrued income
563,821
142,746

767,238
414,970



6.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
88,956
134,601

88,956
134,601



7.


Creditors: Amounts falling due within one year

2021
2020
£
£

Trade creditors
337,857
448,041

Amounts owed to group undertakings
62,339
-

Corporation tax
74,654
6,888

VAT payable
-
45,279

Other creditors
12,001
-

Accruals and deferred income
77,550
-

564,401
500,208



8.


Deferred taxation




2021


£






Charged to profit or loss
(1,999)



At end of year
(1,999)

Page 8

 
MEDISPACE DIAGNOSTICS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
 
8.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2021
2020
£
£


Accelerated capital allowances
(1,999)
-

(1,999)
-


9.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



100 (2020 - 100) Ordinary shares of £200.00 each
20,000
20,000



10.


Related party transactions

As at 31 December 2021 the company was due £69,030 from Medispace B.V. and owed £62,383.69 to Medispace B.V. - the controlling party.


11.


Controlling party

The controlling party is Medispace Holding B.V. by virtue of their majority shareholding.



Page 9