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REGISTERED NUMBER: 03748527 (England and Wales)










ONCOLOGY SYSTEMS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023






ONCOLOGY SYSTEMS LIMITED (REGISTERED NUMBER: 03748527)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ONCOLOGY SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTORS: C R Pavey
Ms J M Mead
Miss A R Pavey





SECRETARY: C R Pavey





REGISTERED OFFICE: 14 Longbow Professional Centre
Longbow Close
SHREWSBURY
Shropshire
SY1 3GZ





REGISTERED NUMBER: 03748527 (England and Wales)





ACCOUNTANTS: Harvey Telford & Bates Chartered Accountants
10 Park Plaza
Battlefield Enterprise Park
Shrewsbury
Shropshire
SY1 3AF

ONCOLOGY SYSTEMS LIMITED (REGISTERED NUMBER: 03748527)

BALANCE SHEET
30 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 169,254 183,476
Tangible assets 5 326,580 322,757
Investment property 6 767,000 657,500
1,262,834 1,163,733

CURRENT ASSETS
Stocks 196,309 218,292
Debtors 7 795,215 660,505
Cash at bank 812,123 1,726,975
1,803,647 2,605,772
CREDITORS
Amounts falling due within one year 8 1,667,952 2,335,164
NET CURRENT ASSETS 135,695 270,608
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,398,529

1,434,341

PROVISIONS FOR LIABILITIES 63,520 57,607
NET ASSETS 1,335,009 1,376,734

ONCOLOGY SYSTEMS LIMITED (REGISTERED NUMBER: 03748527)

BALANCE SHEET - continued
30 APRIL 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 106 106
Revaluation reserve 9 74,805 59,805
Capital redemption reserve 34 34
Non-distributable reserve 9 122,306 34,148
Retained earnings 1,137,758 1,282,641
SHAREHOLDERS' FUNDS 1,335,009 1,376,734

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 28 November 2023 and were signed on its behalf by:




C R Pavey - Director



Ms J M Mead - Director


ONCOLOGY SYSTEMS LIMITED (REGISTERED NUMBER: 03748527)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1. STATUTORY INFORMATION

Oncology Systems Limited is a private company, limited by shares , registered in England and Wales. 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Research and development are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Improvements to property - 25% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


ONCOLOGY SYSTEMS LIMITED (REGISTERED NUMBER: 03748527)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Research
and
development
£   
COST
At 1 May 2022 2,634,432
Additions 60,725
At 30 April 2023 2,695,157
AMORTISATION
At 1 May 2022 2,450,956
Amortisation for year 74,947
At 30 April 2023 2,525,903
NET BOOK VALUE
At 30 April 2023 169,254
At 30 April 2022 183,476

ONCOLOGY SYSTEMS LIMITED (REGISTERED NUMBER: 03748527)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and Computer
property property fittings equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 May 2022 285,000 45,421 46,258 210,929 587,608
Additions - - 1,256 1,929 3,185
Revaluations 15,000 - - - 15,000
At 30 April 2023 300,000 45,421 47,514 212,858 605,793
DEPRECIATION
At 1 May 2022 - 44,004 39,272 181,575 264,851
Charge for year - 493 1,931 11,938 14,362
At 30 April 2023 - 44,497 41,203 193,513 279,213
NET BOOK VALUE
At 30 April 2023 300,000 924 6,311 19,345 326,580
At 30 April 2022 285,000 1,417 6,986 29,354 322,757

Cost or valuation at 30 April 2023 is represented by:

Improvements Fixtures
Freehold to and Computer
property property fittings equipment Totals
£    £    £    £    £   
Valuation in 2012 12,500 - - - 12,500
Valuation in 2016 20,000 - - - 20,000
Valuation in 2021 (26,130 ) - - - (26,130 )
Valuation in 2023 15,000 - - - 15,000
Cost 278,630 45,421 47,514 212,858 584,423
300,000 45,421 47,514 212,858 605,793

If freehold property had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 278,630 278,630

Freehold property were valued on an open market basis on 27 April 2023 by Halls Holdings Ltd .

ONCOLOGY SYSTEMS LIMITED (REGISTERED NUMBER: 03748527)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2022 657,500
Revaluations 109,500
At 30 April 2023 767,000
NET BOOK VALUE
At 30 April 2023 767,000
At 30 April 2022 657,500

Fair value at 30 April 2023 is represented by:
£   
Valuation in 2012 (10,000 )
Valuation in 2016 95,000
Valuation in 2021 10,593
Valuation in 2023 109,500
Cost 561,907
767,000

If investment property had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 561,907 561,907

Investment property were valued on an open market basis on 27 April 2023 by Halls Holdings Ltd .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 581,313 611,928
Accruals 137,294 18,630
Prepayments 76,608 29,947
795,215 660,505

ONCOLOGY SYSTEMS LIMITED (REGISTERED NUMBER: 03748527)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 410,102 206,122
Tax 107,039 168,956
Social security and other tax 136,222 163,459
Other creditors 24,571 41,574
Directors' loan accounts 495,608 1,177,225
Accruals and deferred income 494,410 577,828
1,667,952 2,335,164

9. RESERVES
Revaluation Non-distributable
reserve reserve Totals
£    £    £   
At 1 May 2022 59,805 34,148 93,953
Fair value gains - 88,158 88,158
Revaluation provision 15,000 - 15,000

At 30 April 2023 74,805 122,306 197,111