Registered number
10678703
Ask Medical Preston Limited
Unaudited Filleted Accounts
31 March 2023
Ask Medical Preston Limited
Registered number: 10678703
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 50,477 5,215
Investments 4 22,197 -
72,674 5,215
Current assets
Cash at bank and in hand 105,368 130,229
Creditors: amounts falling due within one year 5 (40,564) (42,586)
Net current assets 64,804 87,643
Total assets less current liabilities 137,478 92,858
Provisions for liabilities (9,590) (991)
Net assets 127,888 91,867
Capital and reserves
Called up share capital 5 5
Profit and loss account 127,883 91,862
Shareholders' funds 127,888 91,867
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr K R Vege
Director
Approved by the board on 24 October 2023
Ask Medical Preston Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment 20% on written down value
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 9,274 - 9,274
Additions 2,855 55,026 57,881
At 31 March 2023 12,129 55,026 67,155
Depreciation
At 1 April 2022 4,059 - 4,059
Charge for the year 1,614 11,005 12,619
At 31 March 2023 5,673 11,005 16,678
Net book value
At 31 March 2023 6,456 44,021 50,477
At 31 March 2022 5,215 - 5,215
4 Investments
Other
investments
£
Cost
Additions 22,197
At 31 March 2023 22,197
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 587 6,549
Other creditors 39,977 36,037
40,564 42,586
6 Related party transactions
The company is controlled by the directors by virtue of their shareholdings. The directors have an interest-free loan account with the company to which dividends of £4000 were credited during the year. At the year end the company owed the directors £39310 (2022: £35529).
7 Other information
Ask Medical Preston Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 16 Eastway Business Village
Olivers Place
Fulwood
Preston
PR2 9WT
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