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Registered number: 13723755
Onchan Medical Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Abridged Balance Sheet 1
Notes to the Abridged Financial Statements 2—3
Page 1
Abridged Balance Sheet
Registered number: 13723755
30 November 2023 30 November 2022
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 11,765 13,881
Cash at bank and in hand 20 1,043
11,785 14,924
Creditors: Amounts Falling Due Within One Year (11,778 ) (3,917 )
NET CURRENT ASSETS (LIABILITIES) 7 11,007
TOTAL ASSETS LESS CURRENT LIABILITIES 7 11,007
NET ASSETS 7 11,007
CAPITAL AND RESERVES
Called up share capital 5 1 1
Profit and Loss Account 6 11,006
SHAREHOLDERS' FUNDS 7 11,007
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 30 November 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Miss Sarah Morgan
Director
26/07/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Abridged Financial Statements
1. General Information
Onchan Medical Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13723755 . The registered office is 76 Mill Hill Road, Wirral, CH61 4XF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Debtors
30 November 2023 30 November 2022
£ £
Due after more than one year
Corporation tax recoverable assets 2,969 -
5. Share Capital
30 November 2023 30 November 2022
£ £
Allotted, Called up and fully paid 1 1
Page 2
Page 3
6. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2022 Amounts advanced Amounts repaid Amounts written off As at 30 November 2023
£ £ £ £ £
Miss Sarah Morgan 13,881 44,759 49,844 - 8,796
The above loan is unsecured, interest free and repayable on demand.
Page 3