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Registration number: 03769127


Inmed Enterprise Limited

Directors' Report and Unaudited Financial Statements

for the Year Ended 31 May 2023

 

Inmed Enterprise Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Inmed Enterprise Limited

Company Information

Directors

Dr U P Choudhary

Dr P P Choudhary

Registered office

Manor Hill
Lordsley Lane
Lordsley
Market Drayton
Shropshire
TF9 4EQ

Accountants

Howsons
Chartered Accountants
Winton House
Stoke Road
Stoke on Trent
Staffordshire
ST4 2RW

 

Inmed Enterprise Limited

(Registration number: 03769127)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

8,012

13,900

Investments

5

62,055

1,040

 

70,067

14,940

Current assets

 

Debtors

6

94,700

33,725

Cash at bank and in hand

 

39,266

57,802

 

133,966

91,527

Creditors: Amounts falling due within one year

7

(108,761)

(76,249)

Net current assets

 

25,205

15,278

Total assets less current liabilities

 

95,272

30,218

Provisions for liabilities

(488)

-

Net assets

 

94,784

30,218

Capital and reserves

 

Called up share capital

5,100

5,100

Retained earnings

89,684

25,118

Shareholders' funds

 

94,784

30,218

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of Financial Reporting Standard 102 (FRS 102) Section 1A - small entities.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 February 2024 and signed on its behalf by:
 

 

Inmed Enterprise Limited

(Registration number: 03769127)
Balance Sheet as at 31 May 2023

.........................................
Dr P P Choudhary
Director

 

Inmed Enterprise Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Manor Hill
Lordsley Lane
Lordsley
Market Drayton
Shropshire
TF9 4EQ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's presentational currency is pound sterling (£). The accounts are rounded to the nearest whole pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Inmed Enterprise Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer Equipment

33.3% Straight line

Plant and Machinery

20% Straight line

Improvements to Leasehold Property

10% Straight line

Motor Vehicles

20% Straight line

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Development costs

Development expenditure incurred on an individual project is carried forward when its future recoverability can reasonably be regarded as assured. Any expenditure carried forward is amortised in line with the expected future sales from the related project.

Amortisation

Asset class

Amortisation method and rate

Patents

3.7% Reducing balance

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Inmed Enterprise Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Basic financial assets, including trade and other debtors, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
Basic financial liabilities, including trade and other trade creditors, bank and other 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 receipts discounted at a market rate of interest.

 Recognition and measurement
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit and loss.

 Impairment
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised in the profit or loss.

Financial assets are derecognised when a) the contractual rights to the cash flows from the asset expire or are settled, or b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 5).

 

Inmed Enterprise Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

4

Tangible assets

Improvements to leasehold property
 £

Motor vehicles
 £

Computer equipment
 £

Plant and machinery
 £

Total
£

Cost or valuation

At 1 June 2022

48,724

56,137

6,599

48,723

160,183

Additions

-

-

1,589

-

1,589

Disposals

-

(56,137)

-

-

(56,137)

At 31 May 2023

48,724

-

8,188

48,723

105,635

Depreciation

At 1 June 2022

43,852

56,137

3,540

42,754

146,283

Charge for the year

4,872

-

1,370

1,235

7,477

Eliminated on disposal

-

(56,137)

-

-

(56,137)

At 31 May 2023

48,724

-

4,910

43,989

97,623

Carrying amount

At 31 May 2023

-

-

3,278

4,734

8,012

At 31 May 2022

4,872

-

3,059

5,969

13,900

 

Inmed Enterprise Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

5

Investments

2023
£

2022
£

Investments in subsidiaries

62,055

1,040

Subsidiaries

£

Cost or valuation

At 1 June 2022

1,040

Additions

61,015

At 31 May 2023

62,055

Provision

Carrying amount

At 31 May 2023

62,055

At 31 May 2022

1,040

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Inmed Bharat Health Care Private Limited

D-404, Guruprasad CHS Ltd, Cross Road 2, Swami Samarth Nagar, Andheri(W) - 400058, Mumbai, Mumbai City, Maharashtra, India

India

Equity share

99.99%

99.99%

Subsidiary undertakings

Inmed Bharat Health Care Private Limited

The principal activity of Inmed Bharat Health Care Private Limited is the provision of healthcare services.

 

Inmed Enterprise Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

6

Debtors

2023
£

2022
£

Trade debtors

88,240

27,968

Prepayments

2,517

1,564

Other debtors

3,943

4,193

 

94,700

33,725

7

Creditors

2023
£

2022
£

Due within one year

Taxation and social security

1,533

2,139

Other creditors

104,697

72,496

Directors' loan account

2,531

1,614

108,761

76,249