Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31172022-01-01falseNo description of principal activity16truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11198746 2022-01-01 2022-12-31 11198746 2021-01-01 2021-12-31 11198746 2022-12-31 11198746 2021-12-31 11198746 c:Director1 2022-01-01 2022-12-31 11198746 d:MotorVehicles 2022-01-01 2022-12-31 11198746 d:MotorVehicles 2022-12-31 11198746 d:MotorVehicles 2021-12-31 11198746 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 11198746 d:FurnitureFittings 2022-01-01 2022-12-31 11198746 d:FurnitureFittings 2022-12-31 11198746 d:FurnitureFittings 2021-12-31 11198746 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 11198746 d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 11198746 d:CurrentFinancialInstruments 2022-12-31 11198746 d:CurrentFinancialInstruments 2021-12-31 11198746 d:Non-currentFinancialInstruments 2022-12-31 11198746 d:Non-currentFinancialInstruments 2021-12-31 11198746 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11198746 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 11198746 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 11198746 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 11198746 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 11198746 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-12-31 11198746 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 11198746 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-12-31 11198746 d:ShareCapital 2022-12-31 11198746 d:ShareCapital 2021-12-31 11198746 d:RetainedEarningsAccumulatedLosses 2022-12-31 11198746 d:RetainedEarningsAccumulatedLosses 2021-12-31 11198746 c:OrdinaryShareClass1 2022-01-01 2022-12-31 11198746 c:OrdinaryShareClass1 2022-12-31 11198746 c:OrdinaryShareClass1 2021-12-31 11198746 c:FRS102 2022-01-01 2022-12-31 11198746 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 11198746 c:FullAccounts 2022-01-01 2022-12-31 11198746 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 11198746 2 2022-01-01 2022-12-31 11198746 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 11198746 d:AcceleratedTaxDepreciationDeferredTax 2021-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11198746









ULTRASOUND PLUS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
ULTRASOUND PLUS LIMITED
REGISTERED NUMBER: 11198746

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
105,010
13,077

  
105,010
13,077

Current assets
  

Stocks
  
4,000
3,000

Debtors: amounts falling due within one year
 5 
120,775
59,197

Cash at bank and in hand
  
342,319
268,837

  
467,094
331,034

Creditors: amounts falling due within one year
 6 
(203,341)
(129,385)

Net current assets
  
 
 
263,753
 
 
201,649

Total assets less current liabilities
  
368,763
214,726

Creditors: amounts falling due after more than one year
 7 
(24,167)
(34,167)

Provisions for liabilities
  

Deferred tax
 9 
(26,253)
(2,379)

  
 
 
(26,253)
 
 
(2,379)

Net assets
  
318,343
178,180


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
318,243
178,080

  
318,343
178,180


Page 1

 
ULTRASOUND PLUS LIMITED
REGISTERED NUMBER: 11198746
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

The director considers 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 director acknowledges his 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 statement of income and retained earnings 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 on 10 November 2023.


H Hothi
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
ULTRASOUND PLUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 11198746.  The Company's registered office is Sterling House, 71 Francis Road, Edgbaston, Birmingham, B16 8SP.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are rounded to the nearest £1.

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.

Cash flow
Under Financial Reporting Standard 102, the company is exempt from the requirement to prepare a cash flow statement on the grounds that it qualifies as a small company.

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts have been prepared on the going concern basis.

Page 3

 
ULTRASOUND PLUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.3

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

 
2.4

Interest income

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

 
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

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
ULTRASOUND PLUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
Fixtures and fittings
-
25%

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.

Page 5

 
ULTRASOUND PLUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

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.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

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.

 
2.13

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Page 6

 
ULTRASOUND PLUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.14
Financial instruments (continued)

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 7

 
ULTRASOUND PLUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.14
Financial instruments (continued)

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.15

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 17 (2021 - 16).

Page 8

 
ULTRASOUND PLUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 January 2022
-
19,286
19,286


Additions
107,716
6,027
113,743



At 31 December 2022

107,716
25,313
133,029



Depreciation


At 1 January 2022
-
6,209
6,209


Charge for the year on owned assets
17,953
3,857
21,810



At 31 December 2022

17,953
10,066
28,019



Net book value



At 31 December 2022
89,763
15,247
105,010



At 31 December 2021
-
13,077
13,077


5.


Debtors

2022
2021
£
£


Other debtors
95,652
59,197

Prepayments and accrued income
25,123
-

120,775
59,197


Page 9

 
ULTRASOUND PLUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
10,000
10,000

Trade creditors
25,602
1,163

Corporation tax
60,248
46,736

Other taxation and social security
13,494
7,866

Other creditors
83,329
54,500

Accruals and deferred income
10,668
9,120

203,341
129,385



7.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
24,167
34,167

24,167
34,167


Page 10

 
ULTRASOUND PLUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

8.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
14,167
24,167


14,167
24,167


34,167
44,167



9.


Deferred taxation




2022


£






At beginning of year
(2,379)


Charged to profit or loss
(23,874)



At end of year
(26,253)

The provision for deferred taxation is made up as follows:

2022
2021
£
£


Accelerated capital allowances
(26,253)
(2,379)

(26,253)
(2,379)

Page 11

 
ULTRASOUND PLUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

10.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



100 (2021 - 100) Ordinary shares of £1.00 each
100
100



11.Other financial commitments

At the balance sheet date the company had total commitments of £131,107 (2021 - £2,700)


12.


Related party transactions

During the year the director and shareholder made loans from the company. As at 31 December 2022 amounts of £1,064 (2021 - £15,148) was due to the directors and shareholders of the company.
During the period the company received loans from companies under common control and at 31 December 2022 amounts of £32,451 (2021 - £24,986) was due to be paid.  In addition the company paid loans to other companies under common control and at 31 December 2022 amounts of £88,319 (2021 - £53,897) was outstanding.
Loans are interest free and repayable on demand.

 
Page 12