Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31false2022-04-01falseNo description of principal activity44trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12113604 2022-04-01 2023-03-31 12113604 2021-04-01 2022-03-31 12113604 2023-03-31 12113604 2022-03-31 12113604 c:Director1 2022-04-01 2023-03-31 12113604 d:ComputerEquipment 2022-04-01 2023-03-31 12113604 d:ComputerEquipment 2023-03-31 12113604 d:ComputerEquipment 2022-03-31 12113604 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 12113604 d:CurrentFinancialInstruments 2023-03-31 12113604 d:CurrentFinancialInstruments 2022-03-31 12113604 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12113604 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 12113604 d:ShareCapital 2023-03-31 12113604 d:ShareCapital 2022-03-31 12113604 d:RetainedEarningsAccumulatedLosses 2023-03-31 12113604 d:RetainedEarningsAccumulatedLosses 2022-03-31 12113604 c:FRS102 2022-04-01 2023-03-31 12113604 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 12113604 c:FullAccounts 2022-04-01 2023-03-31 12113604 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 12113604 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 12113604










WRIGHT MED SERVICES LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
WRIGHT MED SERVICES LTD
REGISTERED NUMBER: 12113604

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,086
787

  
1,086
787

Current assets
  

Debtors: amounts falling due within one year
 5 
234,386
122,836

Cash at bank and in hand
  
35,125
69,639

  
269,511
192,475

Creditors: amounts falling due within one year
 6 
(50,167)
(47,365)

Net current assets
  
 
 
219,344
 
 
145,110

Total assets less current liabilities
  
220,430
145,897

  

Net assets
  
220,430
145,897


Capital and reserves
  

Called up share capital 
  
99
99

Profit and loss account
  
220,331
145,798

  
220,430
145,897


Page 1

 
WRIGHT MED SERVICES LTD
REGISTERED NUMBER: 12113604
    
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: 




Dr C M Wright
Director

Date: 15 September 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
WRIGHT MED SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Wright Med Services Ltd is a private company limited by shares and Incorporated in England and Wales registration number 12113604. 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

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:

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

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

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

Page 3

 
WRIGHT MED SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

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.

 
2.7

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.

Depreciation is provided on the following basis:

Computer equipment
-
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.

 
2.8

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.

 
2.9

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.

Page 4

 
WRIGHT MED SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.


Employees

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


4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 April 2022
4,088


Additions
869



At 31 March 2023

4,957



Depreciation


At 1 April 2022
3,301


Charge for the year on owned assets
570



At 31 March 2023

3,871



Net book value



At 31 March 2023
1,086



At 31 March 2022
787

Page 5

 
WRIGHT MED SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Trade debtors
16,764
18,454

Other debtors
217,057
103,773

Prepayments and accrued income
565
609

234,386
122,836



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
18,621
19,493

Other taxation and social security
295
-

Other creditors
28,586
25,454

Accruals and deferred income
2,665
2,418

50,167
47,365



7.


Related party transactions

At the year end date the directors owed the company £163,020 (2022: £78,320). 

 
Page 6