Company registration number 01455141 (England and Wales)
U.K. MEDICAL LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
U.K. MEDICAL LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
U.K. MEDICAL LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
1,001
1,001
Current assets
Debtors
5
51,957
51,957
Creditors: amounts falling due within one year
6
(1)
(1)
Net current assets
51,956
51,956
Net assets
52,957
52,957
Capital and reserves
Called up share capital
7
1,053
1,053
Share premium account
19,557
19,557
Profit and loss reserves
32,347
32,347
Total equity
52,957
52,957
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 19 July 2024 and are signed on its behalf by:
I Aaron
Director
Company registration number 01455141 (England and Wales)
U.K. MEDICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
U.K. Medical Limited is a private company limited by shares incorporated in England and Wales. The registered office is Albreda House, Lydgate Lane, Sheffield, S10 5FH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Fixed asset investments are stated at cost less provision for diminution in value.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
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 statement of financial position when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
U.K. MEDICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
1,001
1,001
4
Subsidiaries
Details of the company's subsidiaries at 31 December 2023 are as follows:
Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
It's Interventional Limited
Albreda House, Lydgate Lane, Sheffield, S10 5FH
Sale of medical equipment
Ordinary
100.00
It's Interventional Regulatory Limited
Albreda House, Lydgate Lane, Sheffield, S10 5FH
Sale of services
Ordinary
100.00
U.K. MEDICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
51,957
51,957
6
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
1
1
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
900
900
900
900
Ordinary B shares of £1 each
53
53
53
53
Ordinary C shares of £1 each
100
100
100
100
1,053
1,053
1,053
1,053
8
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Daniel Varley
Statutory Auditor:
BHP LLP
Date of audit report:
31 July 2024
9
Parent company
UK MED 1 Limited, a company registered in the UK, is the immediate parent company. The ultimate controlling party is Mr I Aaron.