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Registered Number: 03616847
England and Wales

 

 

 

MEDISO MEDICAL IMAGING SYSTEMS UK LIMITED


Financial Statements
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
Director Peter Katona
Registered Number 03616847
Registered Office Arena Offices, Abbey House
282 Farnborough Road
Farnborough
GU14 7NA
Auditors Shorts Chartered Accountants & Statutory Auditor
Cedar House
63 Napier Street
Sheffield
S11 8HA
1
 
 
Notes
 
31/12/2023
£
  31/12/2022
£
Fixed assets      
Tangible fixed assets 4 36,423    47,512 
36,423    47,512 
Current assets      
Stocks 5 6,255    19,496 
Debtors: amounts falling due within one year 6 767,150    829,889 
Cash at bank and in hand 667,551    696,350 
1,440,956    1,545,735 
Creditors: amount falling due within one year 7 (861,457)   (1,434,086)
Net current assets 579,499    111,649 
 
Total assets less current liabilities 615,922    159,161 
Creditors: amount falling due after more than one year 8 (203,240)   (30,027)
Net assets 412,682    129,134 
 

Capital and reserves
     
Called up share capital 9 1,000    1,000 
Profit and loss account 411,682    128,134 
Shareholder's funds 412,682    129,134 
 


These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 22 April 2024 and were signed on its behalf by:


-------------------------------
Peter Katona
Director
2
General Information
MEDISO MEDICAL IMAGING SYSTEMS UK LIMITED  is a private company, limited by shares, registered in England and Wales.  The company's registered number is 03616847, and its registrered address is Arena Offices, Abbey House, 282 Farnborough Road, Farnborough, GU14 7NA.

The presentation currency is £ sterling.

1.

Accounting policies

Significant accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. 
Turnover
Sale of goods
Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of turnover can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of turnover can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery 25% Straight Line
Motor Vehicles 25% Straight Line
Fixtures and Fittings 25% Straight Line
Computer Equipment 25% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
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.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 6 (2022 : 6).
3.

Audit Information


The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified. 

The auditor's report was signed by Howard Freeman BSc FCA (Senior Statutory Auditor) for and on behalf of Shorts Chartered Accountants & Statutory Auditor Chartered Accountants and Registered Auditors on 22 April 2024.
4.

Tangible fixed assets

Cost or valuation Plant and machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 January 2023 4,300    52,505    14,247    8,037    79,089 
Additions     768    2,295    3,063 
Disposals        
At 31 December 2023 4,300    52,505    15,015    10,332    82,152 
Depreciation
At 01 January 2023 4,300    5,938    14,180    7,159    31,577 
Charge for year   13,126    211    815    14,152 
On disposals        
At 31 December 2023 4,300    19,064    14,391    7,974    45,729 
Net book values
Closing balance as at 31 December 2023   33,441    624    2,358    36,423 
Opening balance as at 01 January 2023   46,567    67    878    47,512 


5.

Stocks

31/12/2023
£
  31/12/2022
£
Stocks 6,255    19,496 
6,255    19,496 

6.

Debtors: amounts falling due within one year

31/12/2023
£
  31/12/2022
£
Trade Debtors 612,254    685,440 
Prepayments & Accrued Income 151,146    140,699 
Other Debtors 3,750    3,750 
767,150    829,889 

7.

Creditors: amount falling due within one year

31/12/2023
£
  31/12/2022
£
Trade Creditors 18,080    192,636 
Amounts Owed to Group Undertakings 449,203    116,390 
Corporation Tax 87,992    105,622 
PAYE & Social Security 33,207    10,617 
Pension liability   2,349 
Accruals & Deferred Income 262,458    1,002,261 
Other Creditors 2   
Wages & Salaries Control Account 1,450   
VAT 9,065    4,211 
861,457    1,434,086 

8.

Creditors: amount falling due after more than one year

31/12/2023
£
  31/12/2022
£
Accruals & Deferred Income 203,240    30,027 
203,240    30,027 

9.

Share Capital

Allotted, called up and fully paid
31/12/2023
£
  31/12/2022
£
100,000 Class A shares of £0.01 each 1,000    1,000 
1,000    1,000 

10.

CONTROLLING PARTY

The immediate and ultimate parent undertaking is Mediso Medical Imaging Systems Kft, whose registered office address is H-1037, Laborc Utca 3, Budapest, Hungary. The group financial statements of Mediso Medical Imaging Systems Kft are publicly available. 
The company has taken the available exemptions within FRS102 whereby it has not disclosed transactions with its parent company and any wholly owned subsidiaries within that group.



11.

OTHER FINANCIAL COMMITMENTS

The company has total commitments under non-cancellable operating leases as follows:

                                                                                                      31.12.2023        31.12.2022
Due date within 1 year                                                                     10,273              17,610 
Due date between 2 and 5 years                                                         0                   10,273 

Total                                                                                                 10,273              27,883           


12.

COMPARATIVE PERIOD

The length of the comparative period is 18 months, ending on 31.12.2022. 
3