Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-04-01falseNo description of principal activity43falsetrue 11031209 2022-04-01 2023-03-31 11031209 2021-04-01 2022-03-31 11031209 2023-03-31 11031209 2022-03-31 11031209 c:Director1 2022-04-01 2023-03-31 11031209 d:OfficeEquipment 2022-04-01 2023-03-31 11031209 d:OfficeEquipment 2023-03-31 11031209 d:OfficeEquipment 2022-03-31 11031209 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 11031209 d:CurrentFinancialInstruments 2023-03-31 11031209 d:CurrentFinancialInstruments 2022-03-31 11031209 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11031209 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 11031209 d:ShareCapital 2023-03-31 11031209 d:ShareCapital 2022-03-31 11031209 d:RetainedEarningsAccumulatedLosses 2023-03-31 11031209 d:RetainedEarningsAccumulatedLosses 2022-03-31 11031209 c:FRS102 2022-04-01 2023-03-31 11031209 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 11031209 c:FullAccounts 2022-04-01 2023-03-31 11031209 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11031209 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 11031209










NAIMAD MEDICAL LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
NAIMAD MEDICAL LTD
REGISTERED NUMBER: 11031209

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,401
1,790

  
2,401
1,790

Current assets
  

Debtors: amounts falling due within one year
 5 
9,269
4,300

Current asset investments
 6 
9,071
-

Cash at bank and in hand
  
169,778
169,786

  
188,118
174,086

Creditors: amounts falling due within one year
 7 
(7,746)
(13,565)

Net current assets
  
 
 
180,372
 
 
160,521

Total assets less current liabilities
  
182,773
162,311

  

Net assets
  
182,773
162,311


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
182,771
162,309

  
182,773
162,311


Page 1

 
NAIMAD MEDICAL LTD
REGISTERED NUMBER: 11031209
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

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 income statement in accordance with provisions applicable to companies subject to the small companies' regime.

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




................................................
Mr T D J Aung
Director

Date: 21 August 2023

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
NAIMAD MEDICAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Naimad Medical Ltd is a private company limited by shares and Incorporated in England and Wales registration number 11031209. The registered office is 8 The Courtyard, Wyncolls Road, Severalls Industrial Park, Colchester, Essex, England CO4 9PE.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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

Turnover

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
NAIMAD MEDICAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Pensions

Defined benefit pension plan

The Company operates a defined benefit plan for certain employees. A defined benefit plan defines the pension benefit that the employee will receive on retirement, usually dependent upon several factors including but not limited to age, length of service and remuneration. A defined benefit plan is a pension plan that is not a defined contribution plan.

The liability recognised in the Statement of Financial Position in respect of the defined benefit plan is the present value of the defined benefit obligation at the end of the reporting date less the fair value of plan assets at the reporting date (if any) out of which the obligations are to be settled.

The defined benefit obligation is calculated using the projected unit credit method. Annually the company engages independent actuaries to calculate the obligation. The present value is determined by discounting the estimated future payments using market yields on high quality corporate bonds that are denominated in sterling and that have terms approximating to the estimated period of the future payments ('discount rate').

The fair value of plan assets is measured in accordance with the FRS 102 fair value hierarchy and in accordance with the Company's policy for similarly held assets. This includes the use of appropriate valuation techniques.

Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to other comprehensive income. These amounts together with the return on plan assets, less amounts included in net interest, are disclosed as 'Remeasurement of net defined benefit liability'.

The cost of the defined benefit plan, recognised in profit or loss as employee costs, except where included in the cost of an asset, comprises:

a) the increase in net pension benefit liability arising from employee service during the period; and

b) the cost of plan introductions, benefit changes, curtailments and settlements.

The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is recognised in profit or loss as a 'finance expense'.

 
2.5

Taxation

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.

Page 4

 
NAIMAD MEDICAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Office equipment
-
33.33% straight line

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.

 
2.7

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.

 
2.8

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

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 3).

Page 5

 
NAIMAD MEDICAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 April 2022
8,794


Additions
1,859


Disposals
(999)



At 31 March 2023

9,654



Depreciation


At 1 April 2022
7,004


Charge for the year on owned assets
249



At 31 March 2023

7,253



Net book value



At 31 March 2023
2,401



At 31 March 2022
1,790


5.


Debtors

2023
2022
£
£


Trade debtors
3,990
3,450

Other debtors
-
604

Prepayments and accrued income
5,279
246

9,269
4,300


Page 6

 
NAIMAD MEDICAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Current asset investments

2023
2022
£
£

Listed investments
9,071
-

9,071
-



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
5,417
11,608

Other creditors
312
312

Accruals and deferred income
2,017
1,645

7,746
13,565


 
Page 7