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REGISTERED NUMBER: 02717054 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Diagnostic Solutions Ltd

Diagnostic Solutions Ltd (Registered number: 02717054)






Contents of the Financial Statements
for the Year Ended 31 July 2023




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 2023







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 2023

31/7/23 31/7/22
Notes £    £    £    £   
Fixed assets
Intangible assets 4 310,371 274,446
Tangible assets 5 8,698 9,438
319,069 283,884

Current assets
Stocks 92,546 69,154
Debtors 6 211,942 224,873
Cash at bank 202,441 157,746
506,929 451,773
Creditors
Amounts falling due within one year 7 200,425 267,640
Net current assets 306,504 184,133
Total assets less current liabilities 625,573 468,017

Provisions for liabilities 9 79,530 53,719
Net assets 546,043 414,298

Capital and reserves
Called up share capital 100 100
Retained earnings 545,943 414,198
Shareholders' funds 546,043 414,298

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

Diagnostic Solutions Ltd (Registered number: 02717054)

Statement of Financial Position - continued
31 July 2023


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 17 October 2023 and were signed by:





T Scott - Director


Diagnostic Solutions Ltd (Registered number: 02717054)

Notes to the Financial Statements
for the Year Ended 31 July 2023

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 2023

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.

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

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.

3. Employees and directors

The average number of employees during the year was 7 (2022 - 8 ) .

Diagnostic Solutions Ltd (Registered number: 02717054)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. Intangible fixed assets
Development
costs
£   
Cost
At 1 August 2022 729,386
Additions 73,828
At 31 July 2023 803,214
Amortisation
At 1 August 2022 454,940
Amortisation for year 37,903
At 31 July 2023 492,843
Net book value
At 31 July 2023 310,371
At 31 July 2022 274,446

5. Tangible fixed assets
Fixtures,
fittings
and
equipment
£   
Cost
At 1 August 2022 24,159
Additions 2,160
At 31 July 2023 26,319
Depreciation
At 1 August 2022 14,721
Charge for year 2,900
At 31 July 2023 17,621
Net book value
At 31 July 2023 8,698
At 31 July 2022 9,438

Diagnostic Solutions Ltd (Registered number: 02717054)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

6. Debtors: amounts falling due within one year
31/7/23 31/7/22
£    £   
Trade debtors 207,550 212,361
Other debtors 4,392 12,512
211,942 224,873

7. Creditors: amounts falling due within one year
31/7/23 31/7/22
£    £   
Trade creditors 7,373 7,675
Taxation and social security 80,514 85,627
Other creditors 112,538 174,338
200,425 267,640

8. Secured debts

Other creditors under creditors: amounts falling due within one year include secured creditors of £42,594 (2022 - £65,471).

9. Provisions for liabilities
31/7/23 31/7/22
£    £   
Deferred tax
Accelerated capital allowances 1,937 1,574
Other timing differences 77,593 52,145
79,530 53,719

Deferred
tax
£   
Balance at 1 August 2022 53,719
Charge to Statement of Income and Retained Earnings
during year

25,811
Balance at 31 July 2023 79,530

10. Other financial commitments

At 31 July 2023 the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £19,167 (2022 - £30,667) of which £11,500 is due within one year (2022 - £11,500).

Diagnostic Solutions Ltd (Registered number: 02717054)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

11. Related party disclosures

The director has made loans to the company. The balance on these loans at 31 July 2023
was £55,856 (2022 - £87,856). The loans are interest free and repayable on demand.