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Registration number: 12085125

Paddocks Medical Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 July 2023

 

Paddocks Medical Limited

Contents

Abridged Balance Sheet

1

Notes to the Unaudited Abridged Financial Statements

2 to 3

 

Paddocks Medical Limited

(Registration number: 12085125)
Abridged Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

746

-

Current assets

 

Debtors

15,489

9,993

Cash at bank and in hand

 

26,106

24,937

 

41,595

34,930

Creditors: Amounts falling due within one year

(8,857)

(8,403)

Net current assets

 

32,738

26,527

Net assets

 

33,484

26,527

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

33,384

26,427

Total equity

 

33,484

26,527

For the financial 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.

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 director acknowledges his 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 5 April 2024
 

Dr A Fernando

Director

 

Paddocks Medical Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 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:
The Paddocks
Long Park
Nr Crawley
Winchester
SO21 2QE

These financial statements were authorised for issue by the director on 5 April 2024.

2

Accounting policies

Statement of compliance

These abridged financial statements were 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 abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

 

Paddocks Medical Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 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

Office equipment

33% straight line

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2022 - 3).

4

Tangible assets

Total
£

Cost or valuation

At 1 August 2022

1,280

Additions

1,119

At 31 July 2023

2,399

Depreciation

At 1 August 2022

1,280

Charge for the year

373

At 31 July 2023

1,653

Carrying amount

At 31 July 2023

746

5

Related party transactions

Advances to directors


Dr A Fernando

During the period Dr A Fernando went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £6,383 (2022 - £28,145). At the year end the amount outstanding from Dr A Fernando was £14,486 (2022 - £9,993). Interest has been charged at the commercial rate.