REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
19 DECEMBER 2022 TO 31 MARCH 2024 |
FOR |
ASRAD LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
19 DECEMBER 2022 TO 31 MARCH 2024 |
FOR |
ASRAD LIMITED |
ASRAD LIMITED (REGISTERED NUMBER: SC753415) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the period 19 December 2022 to 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ASRAD LIMITED |
COMPANY INFORMATION |
for the period 19 December 2022 to 31 March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Business Advisors and Accountants |
Q Court |
3 Quality Street |
Edinburgh |
EH4 5BP |
ASRAD LIMITED (REGISTERED NUMBER: SC753415) |
BALANCE SHEET |
31 March 2024 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
ASRAD LIMITED (REGISTERED NUMBER: SC753415) |
BALANCE SHEET - continued |
31 March 2024 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
ASRAD LIMITED (REGISTERED NUMBER: SC753415) |
NOTES TO THE FINANCIAL STATEMENTS |
for the period 19 December 2022 to 31 March 2024 |
1. | STATUTORY INFORMATION |
ASRAD Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
TURNOVER |
Turnover is measured at the fair value of the consideration received or receivable for radiology services. |
TANGIBLE FIXED ASSETS |
Fixtures and fittings | - |
Computer equipment | - |
The carrying values of tangible fixed assets are reviewed for impairment on an annual basis. |
FINANCIAL INSTRUMENTS |
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties. |
Short-term debt instruments, including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. |
ASRAD LIMITED (REGISTERED NUMBER: SC753415) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 19 December 2022 to 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
TAXATION |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
DEFERRED TAX |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
CHANGE IN REPORTING PERIOD |
The financial period end of the company was changed from 31 December 2023 to 31 March 2024 so as to align with the Directors' financial interests and preferences. Accordingly, the current financial statements are prepared for the period 19 December 2022 to 31 March 2024. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
Additions |
At 31 March 2024 |
DEPRECIATION |
Charge for period |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Other debtors |
ASRAD LIMITED (REGISTERED NUMBER: SC753415) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 19 December 2022 to 31 March 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | PROVISIONS FOR LIABILITIES |
£ |
Deferred tax | 826 |
Deferred |
tax |
£ |
Charge to Statement of Income and Retained Earnings during period |
Balance at 31 March 2024 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary A | £1 | 50 |
Ordinary B | £1 | 50 |
100 |
The following shares were allotted and fully paid for cash at par during the period: |
50 Ordinary A shares of £1 each |
50 Ordinary B shares of £1 each |
Ordinary A and B shares rank pari passu in terms of: voting rights, each share being entitled to one vote; rights to participate in any distribution of capital on winding up of the company; rights to a varying dividend as a class of share. |