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Registration number: 12150141

Paediatric And Perinatal Pathology Services Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Paediatric And Perinatal Pathology Services Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Paediatric And Perinatal Pathology Services Ltd

(Registration number: 12150141)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

           

Fixed assets

   

 

Tangible assets

4

 

1,819

 

621

Current assets

   

 

Debtors

5

12,340

 

16,015

 

Cash at bank and in hand

 

54,218

 

40,928

 

 

66,558

 

56,943

 

Creditors: Amounts falling due within one year

6

(14,137)

 

(13,238)

 

Net current assets

   

52,421

 

43,705

Net assets

   

54,240

 

44,326

Capital and reserves

   

 

Called up share capital

7

102

 

102

 

Profit and loss account

54,138

 

44,224

 

Shareholders' funds

   

54,240

 

44,326

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 October 2023 and signed on its behalf by:
 

.........................................
Dr J L McPartland
Director

 

Paediatric And Perinatal Pathology Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
55 Hoghton Street
Southport
Merseyside
PR9 0PG
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's functional and presentational currency is GBP and no level of rounding has been used in presenting the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

Paediatric And Perinatal Pathology Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

3 year straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Paediatric And Perinatal Pathology Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Paediatric And Perinatal Pathology Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 April 2022

1,988

1,988

Additions

1,898

1,898

At 31 March 2023

3,886

3,886

Depreciation

At 1 April 2022

1,367

1,367

Charge for the year

700

700

At 31 March 2023

2,067

2,067

Carrying amount

At 31 March 2023

1,819

1,819

At 31 March 2022

621

621

5

Debtors

2023
£

2022
£

Trade debtors

12,340

16,015

12,340

16,015

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts owed to related parties

1,130

721

Other creditors

 

13,007

12,517

 

14,137

13,238

 

Paediatric And Perinatal Pathology Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

Ordinary B Shares of £1 each

1

1

1

1

Ordinary C Shares of £1 each

1

1

1

1

 

102

102

102

102