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Company Registration No. 10101515 (England and Wales)
Perez-Machado Diagnostics Limited Unaudited accounts for the year ended 31 March 2023
Perez-Machado Diagnostics Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
7,714 
9,443 
Current assets
Debtors
140,117 
132,441 
Cash at bank and in hand
34,809 
4,599 
174,926 
137,040 
Creditors: amounts falling due within one year
(57,933)
(40,228)
Net current assets
116,993 
96,812 
Net assets
124,707 
106,255 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
124,705 
106,253 
Shareholders' funds
124,707 
106,255 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 November 2023 and were signed on its behalf by
Miguel Angel Perez-Machado Director Company Registration No. 10101515
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Perez-Machado Diagnostics Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Perez-Machado Diagnostics Limited is a private company, limited by shares, registered in England and Wales, registration number 10101515. The registered office is Flat 20 Highgate Heights, Shepherds Hill, London, N6 5RF, United Kingdom.
2
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
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 as modified by the revaluation of investment properties. The functional and presentational currency of the company is pounds sterling £ and amounts are rounded to the nearest £.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10 - 20% straight line
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. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
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Perez-Machado Diagnostics Limited Notes to the Accounts for the year ended 31 March 2023
Turnover
Turnover is the amount of services rendered and is recognised in the profit and loss account in the period in which the work is performed.
Taxation
Taxation for the year comprises current tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current 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 arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 April 2022
17,594 
At 31 March 2023
17,594 
Depreciation
At 1 April 2022
8,151 
Charge for the year
1,729 
At 31 March 2023
9,880 
Net book value
At 31 March 2023
7,714 
At 31 March 2022
9,443 
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
1,287 
1,037 
Other debtors
138,830 
131,404 
140,117 
132,441 
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Perez-Machado Diagnostics Limited Notes to the Accounts for the year ended 31 March 2023
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
5,307 
- 
Loans from directors
51,126 
38,728 
Accruals
1,500 
1,500 
57,933 
40,228 
6
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary A shares of £0.01 each
1 
1 
100 Ordinary B shares of £0.01 each
1 
1 
2 
2 
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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