Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-312023-01-01falseNo description of principal activity11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09928076 2023-01-01 2023-12-31 09928076 2022-01-01 2022-12-31 09928076 2023-12-31 09928076 2022-12-31 09928076 c:Director1 2023-01-01 2023-12-31 09928076 d:ComputerEquipment 2023-01-01 2023-12-31 09928076 d:ComputerEquipment 2023-12-31 09928076 d:ComputerEquipment 2022-12-31 09928076 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09928076 d:CurrentFinancialInstruments 2023-12-31 09928076 d:CurrentFinancialInstruments 2022-12-31 09928076 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09928076 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09928076 d:ShareCapital 2023-12-31 09928076 d:ShareCapital 2022-12-31 09928076 d:RetainedEarningsAccumulatedLosses 2023-12-31 09928076 d:RetainedEarningsAccumulatedLosses 2022-12-31 09928076 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-12-31 09928076 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-12-31 09928076 c:FRS102 2023-01-01 2023-12-31 09928076 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09928076 c:FullAccounts 2023-01-01 2023-12-31 09928076 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09928076 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 09928076 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 09928076










VDS MEDICAL FIRM LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
VDS MEDICAL FIRM LTD
REGISTERED NUMBER: 09928076

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
971
1,941

  
971
1,941

Current assets
  

Stocks
 5 
1,491
1,357

Debtors: amounts falling due within one year
 6 
85
7,902

Cash at bank and in hand
 7 
16,182
10,243

  
17,758
19,502

Creditors: amounts falling due within one year
 8 
(18,245)
(20,848)

Net current liabilities
  
 
 
(487)
 
 
(1,346)

Total assets less current liabilities
  
484
595

Provisions for liabilities
  

Deferred tax
 10 
(185)
(551)

  
 
 
(185)
 
 
(551)

Net assets
  
299
44


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
298
43

  
299
44


Page 1

 
VDS MEDICAL FIRM LTD
REGISTERED NUMBER: 09928076
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 profit and loss account 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 12 February 2024.




Vikram Swaminathan
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
VDS MEDICAL FIRM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The entity is a private limited liability company, limited by shares registered in England and Wales within the United Kingdom. The registered office is c/o Langtons, The Plaza, 100 Old Hall Street, Liverpool, L3 9QJ and the company number 9928076.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

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.

Page 3

 
VDS MEDICAL FIRM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.4

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.

 
2.5

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.

Page 4

 
VDS MEDICAL FIRM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33.3%

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.

 
2.6

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 first in, first out 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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

Page 5

 
VDS MEDICAL FIRM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

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.

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.12

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 the director, during the year was as follows:


        2023
        2022
            No.
            No.







Director
1
1

Page 6

 
VDS MEDICAL FIRM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 January 2023
11,355



At 31 December 2023

11,355



Depreciation


At 1 January 2023
9,413


Charge for the year on owned assets
971



At 31 December 2023

10,384



Net book value



At 31 December 2023
971



At 31 December 2022
1,941


5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
1,491
1,357

1,491
1,357



6.


Debtors

2023
2022
£
£


Other debtors
85
7,902

85
7,902


Page 7

 
VDS MEDICAL FIRM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
16,182
10,243

16,182
10,243



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to associates
12,950
-

Corporation tax
2,895
13,631

Other taxation and social security
-
1,003

Other creditors
900
4,714

Accruals and deferred income
1,500
1,500

18,245
20,848



9.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
16,182
10,243




Financial assets measured at fair value through profit or loss comprises cash at bank.


10.


Deferred taxation




2023


£






At beginning of year
(551)


Charged to profit or loss
366



At end of year
(185)

Page 8

 
VDS MEDICAL FIRM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
10.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(185)
(551)

(185)
(551)


11.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held
separately from those of the Company in an independently administered fund. The pension cost charge
represents contributions payable by the Company to the fund and amounted to £5,000 (2020: £9,500).
There were no contributions outstanding (2020: none) at the balance sheet date.

 
Page 9