Silverfin false false 30/09/2023 01/10/2022 30/09/2023 Neil James Young 14/09/2020 Rachel Mary Young 14/09/2020 06 March 2024 The principal activity of the Company during the financial year was that of consultant radiologist. SC674115 2023-09-30 SC674115 bus:Director1 2023-09-30 SC674115 bus:Director2 2023-09-30 SC674115 2022-09-30 SC674115 core:CurrentFinancialInstruments 2023-09-30 SC674115 core:CurrentFinancialInstruments 2022-09-30 SC674115 core:ShareCapital 2023-09-30 SC674115 core:ShareCapital 2022-09-30 SC674115 core:RetainedEarningsAccumulatedLosses 2023-09-30 SC674115 core:RetainedEarningsAccumulatedLosses 2022-09-30 SC674115 core:OfficeEquipment 2022-09-30 SC674115 core:ComputerEquipment 2022-09-30 SC674115 core:OfficeEquipment 2023-09-30 SC674115 core:ComputerEquipment 2023-09-30 SC674115 2021-09-30 SC674115 bus:OrdinaryShareClass1 2023-09-30 SC674115 bus:OrdinaryShareClass2 2023-09-30 SC674115 bus:OrdinaryShareClass3 2023-09-30 SC674115 2022-10-01 2023-09-30 SC674115 bus:FilletedAccounts 2022-10-01 2023-09-30 SC674115 bus:SmallEntities 2022-10-01 2023-09-30 SC674115 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 SC674115 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 SC674115 bus:Director1 2022-10-01 2023-09-30 SC674115 bus:Director2 2022-10-01 2023-09-30 SC674115 core:OfficeEquipment 2022-10-01 2023-09-30 SC674115 core:ComputerEquipment 2022-10-01 2023-09-30 SC674115 2021-10-01 2022-09-30 SC674115 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 SC674115 bus:OrdinaryShareClass1 2021-10-01 2022-09-30 SC674115 bus:OrdinaryShareClass2 2022-10-01 2023-09-30 SC674115 bus:OrdinaryShareClass2 2021-10-01 2022-09-30 SC674115 bus:OrdinaryShareClass3 2022-10-01 2023-09-30 SC674115 bus:OrdinaryShareClass3 2021-10-01 2022-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC674115 (Scotland)

YOUNG DIAGNOSTICS LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

YOUNG DIAGNOSTICS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023

Contents

YOUNG DIAGNOSTICS LTD

BALANCE SHEET

AS AT 30 SEPTEMBER 2023
YOUNG DIAGNOSTICS LTD

BALANCE SHEET (continued)

AS AT 30 SEPTEMBER 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 3,089 3,212
3,089 3,212
Current assets
Debtors 4 2,110 0
Cash at bank and in hand 5 49,097 55,205
51,207 55,205
Creditors: amounts falling due within one year 6 ( 51,387) ( 54,770)
Net current (liabilities)/assets (180) 435
Total assets less current liabilities 2,909 3,647
Provision for liabilities 7, 8 ( 772) ( 803)
Net assets 2,137 2,844
Capital and reserves
Called-up share capital 9 70 70
Profit and loss account 2,067 2,774
Total shareholders' funds 2,137 2,844

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

Directors' responsibilities:

The financial statements of Young Diagnostics Ltd (registered number: SC674115) were approved and authorised for issue by the Board of Directors on 06 March 2024. They were signed on its behalf by:

Neil James Young
Director
YOUNG DIAGNOSTICS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
YOUNG DIAGNOSTICS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Young Diagnostics Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 66 Tay Street, Perth, PH2 8RA, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The company has net liabilities of £181. The directors consider it appropriate to prepare the accounts on a going concern basis. In coming to this conclusion they confirm that they will not seek repayment of their loan account and will support the company for at least twelve months from the approval of these financial statements.

Turnover

Turnover represents amounts receivable for radiology consultancy services.

Revenue is recognised when the company has entitlement to the income in exchange for the provision of services.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment 20 % reducing balance
Computer equipment 33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors are initially measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Office equipment Computer equipment Total
£ £ £
Cost
At 01 October 2022 20 4,719 4,739
Additions 0 2,177 2,177
Disposals 0 ( 1,998) ( 1,998)
At 30 September 2023 20 4,898 4,918
Accumulated depreciation
At 01 October 2022 6 1,521 1,527
Charge for the financial year 3 1,474 1,477
Disposals 0 ( 1,175) ( 1,175)
At 30 September 2023 9 1,820 1,829
Net book value
At 30 September 2023 11 3,078 3,089
At 30 September 2022 14 3,198 3,212

4. Debtors

2023 2022
£ £
Other debtors 2,110 0

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 49,097 55,205

6. Creditors: amounts falling due within one year

2023 2022
£ £
Corporation tax 10,653 8,700
Other creditors 40,734 46,070
51,387 54,770

7. Provision for liabilities

2023 2022
£ £
Deferred tax 772 803

8. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 803) ( 504)
Credited/(charged) to the Statement of Income and Retained Earnings 31 ( 299)
At the end of financial year ( 772) ( 803)

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
50 A ordinary shares of £ 1.00 each 50 50
10 B ordinary shares of £ 1.00 each 10 10
30 C ordinary shares of £ 0.333 each 10 10
70 70

10. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Kay Management Personnel 38,435 43,869

The above loan is unsecured, interest free and has no fixed terms of repayment.