Registered number
09465194
DIRECT MEDICARE UK LIMITED
Filleted Accounts
31 May 2023
DIRECT MEDICARE UK LIMITED
Registered number: 09465194
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 75,743 70,871
Current assets
Debtors 4 84,264 192,920
Cash at bank and in hand 83,418 80,199
167,682 273,119
Creditors: amounts falling due within one year 5 (106,713) (190,794)
Net current assets 60,969 82,325
Total assets less current liabilities 136,712 153,196
Creditors: amounts falling due after more than one year 6 (51,868) (85,275)
Net assets 84,844 67,921
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 (986) (986)
Profit and loss account 85,730 68,807
Shareholders' funds 84,844 67,921
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Akhtar Asim Rana
Director
Approved by the board on 14 April 2024
DIRECT MEDICARE UK LIMITED
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 15% reducing balance
Office Equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 15 13
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2022 96,409 15,500 111,909
Additions 20,000 - 20,000
At 31 May 2023 116,409 15,500 131,909
Depreciation
At 1 June 2022 36,226 4,812 41,038
Charge for the year 12,028 3,100 15,128
At 31 May 2023 48,254 7,912 56,166
Net book value
At 31 May 2023 68,155 7,588 75,743
At 31 May 2022 60,183 10,688 70,871
4 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 20,000 -
Other debtors 64,264 192,920
84,264 192,920
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 18,965
Trade creditors 40,864 864
Taxation and social security costs 64,409 54,919
Other creditors 1,440 116,046
106,713 190,794
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 51,868 85,275
7 Revaluation reserve 2023 2022
£ £
At 1 June 2022 (986) -
Deferred taxation arising on the revaluation of land and buildings - (986)
At 31 May 2023 (986) (986)
8 Controlling party
The directors control the company.
9 Other information
DIRECT MEDICARE UK LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Office 15 Building 12,
Tameside Business Park Windmill Lane,
Denton,
Manchester,
M34 3QS
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