SP Medical Limited
Unaudited Financial Statements
For the year ended 30 September 2023
Pages for Filing with Registrar
Company Registration No. 09555173 (England and Wales)
SP Medical Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 3
SP Medical Limited
Balance Sheet
As at 30 September 2023
Page 1
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
11,115
86
Cash at bank and in hand
51,785
804
62,900
890
Creditors: amounts falling due within one year
4
(29,561)
(4,349)
Net current assets/(liabilities)
33,339
(3,459)
Capital and reserves
Called up share capital
5
99
99
Profit and loss reserves
33,240
(3,558)
Total equity
33,339
(3,459)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 20 November 2023 and are signed on its behalf by:
Dr S Jothimurugan
Director
Company Registration No. 09555173
SP Medical Limited
Notes to the Financial Statements
For the year ended 30 September 2023
Page 2
1
Accounting policies
Company information

SP Medical Limited is a private company limited by shares incorporated in England and Wales. The registered office is Orbital House, 20 Eastern Road, Romford, Essex, RM1 3PJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.6
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

SP Medical Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2023
(Continued)
Page 3
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was: 2 (2022: 2).

3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
11,115
-
0
Corporation tax recoverable
-
0
86
11,115
86
4
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
12,143
-
0
Other creditors
17,418
4,349
29,561
4,349
5
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
33 Ordinary A shares of £1 each
33
33
33 Ordinary B shares of £1 each
33
33
33 Ordinary C shares of £1 each
33
33
99
99

 

The shares rank pari passu in all respects except that dividends may be declared at different rates on the A, B and C Ordinary shares or on one or more class or classes to the exclusion of the others.

6
Related party transactions

At the year end, included in other creditors were amounts due to the directors to the company of £14,617 (2022: £172).

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