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REGISTERED NUMBER: 02717054 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2022

for

Diagnostic Solutions Ltd

Diagnostic Solutions Ltd (Registered number: 02717054)






Contents of the Financial Statements
for the Year Ended 31 July 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Diagnostic Solutions Ltd

Company Information
for the Year Ended 31 July 2022







Director: T Scott





Secretary: P Lloyd





Registered office: Unit 4C
Rossett Business Village
Rossett
Nr Chester
LL12 0AY





Registered number: 02717054 (England and Wales)





Accountants: Ellis & Co
Chartered Accountants
114-120 Northgate Street
Chester
CH1 2HT

Diagnostic Solutions Ltd (Registered number: 02717054)

Statement of Financial Position
31 July 2022

31/7/22 31/7/21
Notes £    £   
Fixed assets
Intangible assets 4 274,446 298,278
Tangible assets 5 9,438 14,923
283,884 313,201

Current assets
Stocks 69,154 55,980
Debtors 6 224,873 79,966
Cash at bank 157,746 33,873
451,773 169,819
Creditors
Amounts falling due within one year 7 (267,640 ) (183,292 )
Net current assets/(liabilities) 184,133 (13,473 )
Total assets less current liabilities 468,017 299,728

Creditors
Amounts falling due after more than
one year

8

-

(1,748

)

Provisions for liabilities 10 (53,719 ) -
Net assets 414,298 297,980

Diagnostic Solutions Ltd (Registered number: 02717054)

Statement of Financial Position - continued
31 July 2022

31/7/22 31/7/21
Notes £    £   
Capital and reserves
Called up share capital 100 100
Retained earnings 414,198 297,880
Shareholders' funds 414,298 297,980

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

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

The financial statements were approved by the director and authorised for issue on 2 September 2022 and were signed by:





T Scott - Director


Diagnostic Solutions Ltd (Registered number: 02717054)

Notes to the Financial Statements
for the Year Ended 31 July 2022

1. Statutory information

Diagnostic Solutions 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are
measured at cost less any accumulated amortisation and any accumulated impairment
losses.

Development costs are being amortised evenly over their estimated useful life of between seven and ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings and equipment - 25% reducing balance

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


Diagnostic Solutions Ltd (Registered number: 02717054)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2022

2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Operating leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over
the period of the lease.

3. Employees and directors

The average number of employees during the year was 8 (2021 - 8 ) .

Diagnostic Solutions Ltd (Registered number: 02717054)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2022

4. Intangible fixed assets
Development
costs
£   
Cost
At 1 August 2021 706,488
Additions 22,898
At 31 July 2022 729,386
Amortisation
At 1 August 2021 408,210
Amortisation for year 46,730
At 31 July 2022 454,940
Net book value
At 31 July 2022 274,446
At 31 July 2021 298,278

5. Tangible fixed assets
Fixtures,
fittings
and
equipment
£   
Cost
At 1 August 2021 73,487
Additions 311
Disposals (49,639 )
At 31 July 2022 24,159
Depreciation
At 1 August 2021 58,564
Charge for year 3,147
Eliminated on disposal (46,990 )
At 31 July 2022 14,721
Net book value
At 31 July 2022 9,438
At 31 July 2021 14,923

Diagnostic Solutions Ltd (Registered number: 02717054)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2022

6. Debtors: amounts falling due within one year
31/7/22 31/7/21
£    £   
Trade debtors 212,361 77,471
Other debtors 12,512 2,495
224,873 79,966

7. Creditors: amounts falling due within one year
31/7/22 31/7/21
£    £   
Trade creditors 7,675 26,304
Taxation and social security 85,627 38,994
Other creditors 174,338 117,994
267,640 183,292

8. Creditors: amounts falling due after more than one year
31/7/22 31/7/21
£    £   
Other creditors - 1,748

9. Secured debts

Other creditors under creditors: amounts falling due within one year include secured creditors of £65,471 (2021 - £52,750).

10. Provisions for liabilities
31/7/22 31/7/21
£    £   
Deferred tax
Accelerated capital allowances 1,574 -
Other timing differences 52,145 -
53,719 -

Deferred
tax
£   
Charge to Statement of Income and Retained Earnings
during year

53,719
Balance at 31 July 2022 53,719

Diagnostic Solutions Ltd (Registered number: 02717054)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2022

11. Other financial commitments

At 31 July 2022 the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £30,667 (2021 - £7,667) of which £11,500 is due within one year (2021 - £7,667).

12. Related party disclosures

The director has made loans to the company. The balance on these loans at 31 July 2022 was £87,856 (2021 - £48,856). The loans are interest free and repayable on demand.