Registered number
09144498
Shankly Medical Ltd
Unaudited Filleted Accounts
31 July 2023
Shankly Medical Ltd
Registered number: 09144498
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,494 542
Current assets
Debtors 4 17,995 19,809
Cash at bank and in hand 50,824 252,588
68,819 272,397
Creditors: amounts falling due within one year 5 (2,749) (4,194)
Net current assets 66,070 268,203
Total assets less current liabilities 67,564 268,745
Provisions for liabilities (283) (104)
Net assets 67,281 268,641
Capital and reserves
Called up share capital 100 100
Profit and loss account 67,181 268,541
Shareholders' funds 67,281 268,641
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.
Dr G Johnson
Director
Approved by the board on 17 April 2024
Shankly Medical Ltd
Notes to the Accounts
for the year ended 31 July 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). The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises revenue and from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
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:
Fixtures, fittings, tools and equipment over 3 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
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 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022 5,793
Additions 2,241
At 31 July 2023 8,034
Depreciation
At 1 August 2022 5,251
Charge for the year 1,289
At 31 July 2023 6,540
Net book value
At 31 July 2023 1,494
At 31 July 2022 542
4 Debtors 2023 2022
£ £
Trade debtors 16,501 16,496
Other debtors 1,494 3,313
17,995 19,809
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs - 1,453
Other creditors 2,749 2,741
2,749 4,194
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Director
Interest free, repayable on demand 2,815 1,418 (2,815) 1,418
2,815 1,418 (2,815) 1,418
7 Other information
Shankly Medical Ltd is a private company limited by shares and incorporated in England. Its registered office is:
36 Hendrick Avenue
LONDON
SW12 8TL
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