Company Registration No. 04871120 (England and Wales)
Clinical Diagnostic Services London Limited
Unaudited financial statements
For the year ended 31 July 2023
Pages for filing with registrar
CLINICAL DIAGNOSTIC SERVICES LONDON LIMITED
Clinical Diagnostic Services London Limited
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
CLINICAL DIAGNOSTIC SERVICES LONDON LIMITED
Clinical Diagnostic Services London Limited
BALANCE SHEET
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
30,000
60,000
Tangible assets
4
5,191
4,282
35,191
64,282
Current assets
Debtors
5
24,998
22,893
Cash at bank and in hand
102,564
103,721
127,562
126,614
Creditors: amounts falling due within one year
6
(83,993)
(67,041)
Net current assets
43,569
59,573
Total assets less current liabilities
78,760
123,855
Creditors: amounts falling due after more than one year
7
(24,907)
(28,084)
Net assets
53,853
95,771
Capital and reserves
Called up share capital
9
1
1
Profit and loss reserves
53,852
95,770
Total equity
53,853
95,771
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 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.
CLINICAL DIAGNOSTIC SERVICES LONDON LIMITED
Clinical Diagnostic Services London Limited
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 5 April 2024 and are signed on its behalf by:
Mr W I Smith
Director
Company Registration No. 04871120
CLINICAL DIAGNOSTIC SERVICES LONDON LIMITED
Clinical Diagnostic Services London Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 3 -
1
Accounting policies
Company information
Clinical Diagnostic Services London Limited is a private company limited by shares incorporated in England and Wales. The registered office is 55 Loudoun Road, St John's Wood, London, NW8 0DL.
1.1
Accounting convention
The financial statements are prepared under the historical cost convention.
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 £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.true
1.3
Turnover
Turnover represents amounts receivable for services.
1.4
Intangible fixed assets - goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 10 years.
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% - 33.33% reducing balance
Fixtures, fittings & equipment
20% reducing balance
Motor vehicles
25% reducing balance
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.
1.6
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.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
CLINICAL DIAGNOSTIC SERVICES LONDON LIMITED
Clinical Diagnostic Services London Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 4 -
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.
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.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
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.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.11
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
1.12
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.
CLINICAL DIAGNOSTIC SERVICES LONDON LIMITED
Clinical Diagnostic Services London Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
6
7
3
Intangible fixed assets
Goodwill
£
Cost
At 1 August 2022 and 31 July 2023
300,000
Amortisation and impairment
At 1 August 2022
240,000
Amortisation charged for the year
30,000
At 31 July 2023
270,000
Carrying amount
At 31 July 2023
30,000
At 31 July 2022
60,000
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022
78,042
Additions
2,012
At 31 July 2023
80,054
Depreciation and impairment
At 1 August 2022
73,760
Depreciation charged in the year
1,103
At 31 July 2023
74,863
Carrying amount
At 31 July 2023
5,191
At 31 July 2022
4,282
CLINICAL DIAGNOSTIC SERVICES LONDON LIMITED
Clinical Diagnostic Services London Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 6 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
21,198
18,392
Other debtors
3,800
4,501
24,998
22,893
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
10,559
13,395
Corporation tax
38,079
21,850
Other taxation and social security
3,188
2,956
Other creditors
32,167
28,840
83,993
67,041
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
24,907
28,084
8
Operating lease commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
Within one year
54,000
Between two and five years
54,000
54,000
54,000
CLINICAL DIAGNOSTIC SERVICES LONDON LIMITED
Clinical Diagnostic Services London Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 7 -
9
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary Share of £1 each
1
1