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COMPANY REGISTRATION NUMBER: 08397656
MAS Surgery Limited
Filleted Unaudited Abridged Financial Statements
31 July 2023
MAS Surgery Limited
Abridged Financial Statements
Year ended 31 July 2023
Contents
Page
Abridged statement of financial position
1
Notes to the abridged financial statements
3
MAS Surgery Limited
Abridged Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
11,796
14,643
Current assets
Debtors
50,000
55,621
Cash at bank and in hand
2,632
3,741
--------
--------
52,632
59,362
Creditors: amounts falling due within one year
63,024
62,638
--------
--------
Net current liabilities
10,392
3,276
--------
--------
Total assets less current liabilities
1,404
11,367
-------
--------
Net assets
1,404
11,367
-------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,304
11,267
-------
--------
Shareholders funds
1,404
11,367
-------
--------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 31 July 2023 in accordance with Section 444(2A) of the Companies Act 2006.
MAS Surgery Limited
Abridged Statement of Financial Position (continued)
31 July 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 22 April 2024 , and are signed on behalf of the board by:
Mr Al-Bahrani
Director
Company registration number: 08397656
MAS Surgery Limited
Notes to the Abridged Financial Statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 41 Woodside Avenue, London, N10 3HY.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% reducing balance
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
4. Tangible assets
£
Cost
At 1 August 2022
45,917
Additions
1,085
--------
At 31 July 2023
47,002
--------
Depreciation
At 1 August 2022
31,274
Charge for the year
3,932
--------
At 31 July 2023
35,206
--------
Carrying amount
At 31 July 2023
11,796
--------
At 31 July 2022
14,643
--------
5. Director's advances, credits and guarantees
At the year end the company owed the director Dr A Al-Bahrani £62,184 (2022: £61,798).
6. Related party transactions
During the year the company paid the shareholders £2,000 (2022: £4,000) in dividends.