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REGISTERED NUMBER: SC547455 (Scotland)












UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

N-MED SERVICES LIMITED

N-MED SERVICES LIMITED (REGISTERED NUMBER: SC547455)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Statement of Changes in Equity 3

Notes to the Financial Statements 4


N-MED SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mrs N Bali
Dr A Bali





REGISTERED OFFICE: 20 Boclair Road
Bearsden
Glasgow
G61 2AF





REGISTERED NUMBER: SC547455 (Scotland)





ACCOUNTANTS: Donachie Chartered Accountants
2nd Floor
Templeton House
62 Templeton Street
Glasgow
G40 1DA

N-MED SERVICES LIMITED (REGISTERED NUMBER: SC547455)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 66,000 53,000
Cash at bank 2,860 1,019
68,860 54,019
CREDITORS
Amounts falling due within one year 5 11,557 15,676
NET CURRENT ASSETS 57,303 38,343
TOTAL ASSETS LESS CURRENT LIABILITIES 57,303 38,343

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 57,203 38,243
SHAREHOLDERS' FUNDS 57,303 38,343

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2023 and were signed on its behalf by:





Mrs N Bali - Director


N-MED SERVICES LIMITED (REGISTERED NUMBER: SC547455)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 1 April 2021 100 55,724 55,824

Changes in equity
Dividends - (80,000 ) (80,000 )
Total comprehensive income - 62,519 62,519
Balance at 31 March 2022 100 38,243 38,343

Changes in equity
Dividends - (4,000 ) (4,000 )
Total comprehensive income - 22,961 22,961
Balance at 31 March 2023 100 57,204 57,304

N-MED SERVICES LIMITED (REGISTERED NUMBER: SC547455)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

N-Med Services Limited is a private company, limited by shares , registered in Scotland. 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.

Turnover is recognised at the point at which the Company has fulfilled its contractual obligations to the customer, it can be reliably measured and it is probable that the economic benefit associated with the sale will flow to the entity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Financial instruments
Financial instruments are classified and accounted for as financial assets, financial liabilities or equity instruments, according to the substance of the contractual arrangement.

Financial instruments which are assets are stated at cost less any provision for impairment. Financial liabilities are stated at principal capital amounts outstanding at the period end. Issue costs relating to financial liabilities are deducted from the outstanding balance and are amortised over the period to the due date for repayment of the financial liability.

An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. A financial liability is any contractual arrangement for an entity to deliver cash to the holder of the associated financial instrument.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 66,000 53,000

N-MED SERVICES LIMITED (REGISTERED NUMBER: SC547455)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation tax 5,386 14,665
VAT 2,733 818
Directors' current accounts 3,438 193
11,557 15,676

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mrs N Bali
Balance outstanding at start of year (193 ) (1,989 )
Amounts advanced (1,671 ) -
Amounts repaid - 1,796
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,864 ) (193 )

Dr A Bali
Balance outstanding at start of year - (1,890 )
Amounts advanced (1,575 ) -
Amounts repaid - 1,890
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,575 ) -

7. RELATED PARTY DISCLOSURES

Gildeas Limited
A company controlled by Mrs N Bali's Spouse

During the year the company provided a loan of £Nil (2022 - £53,000) to Gildeas Limited and is included in other debtors. The amounts due from Gildeas Limited at the balance sheet date is £53,000 (2022 - £53,000). No interest was charged on the loan and fixed repayment date has been se

Port Real Limited
A company controlled by Mrs N Bali

During the year the company provided a loan of £13,000 (2022 - £Nil) to Port Real Limited and is included in other debtors. The amounts due from Port Real Limited at the balance sheet date is £13,000 (2022 - £Nil). No interest was charged on the loan and fixed repayment date has been set.