Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31truefalse2023-01-01specialists in medical procedures33trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08123406 2023-01-01 2023-12-31 08123406 2022-01-01 2022-12-31 08123406 2023-12-31 08123406 2022-12-31 08123406 c:Director1 2023-01-01 2023-12-31 08123406 c:Director2 2023-01-01 2023-12-31 08123406 c:RegisteredOffice 2023-01-01 2023-12-31 08123406 d:PlantMachinery 2023-01-01 2023-12-31 08123406 d:PlantMachinery 2023-12-31 08123406 d:PlantMachinery 2022-12-31 08123406 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08123406 d:CurrentFinancialInstruments 2023-12-31 08123406 d:CurrentFinancialInstruments 2022-12-31 08123406 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08123406 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 08123406 d:ShareCapital 2023-12-31 08123406 d:ShareCapital 2022-12-31 08123406 d:RetainedEarningsAccumulatedLosses 2023-12-31 08123406 d:RetainedEarningsAccumulatedLosses 2022-12-31 08123406 c:FRS102 2023-01-01 2023-12-31 08123406 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08123406 c:FullAccounts 2023-01-01 2023-12-31 08123406 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08123406 2 2023-01-01 2023-12-31 08123406 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 08123406














MZ MEDICAL LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED  31 DECEMBER 2023

 
MZ MEDICAL LIMITED
 
 
COMPANY INFORMATION


Directors
M Akhavan 
M Zamani 




Registered number
08123406



Registered office
5 Elstree Gate
Elstree Way

Borehamwood

Hertfordshire

WD6 1JD




Accountants
Sopher + Co LLP
Chartered Accountants

5 Elstree Gate

Elstree Way

Borehamwood

Hertfordshire

WD6 1JD





 
MZ MEDICAL LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 7


 
MZ MEDICAL LIMITED
REGISTERED NUMBER:08123406

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,597
9,654

Current assets
  

Debtors: amounts falling due within one year
 5 
1,290,846
948,619

Bank and cash balances
  
3,771,188
3,816,583

  
5,062,034
4,765,202

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(171,672)
(658,212)

Net current assets
  
 
 
4,890,362
 
 
4,106,990

  

Net assets
  
4,894,959
4,116,644


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
4,894,859
4,116,544

  
4,894,959
4,116,644


Page 1

 
MZ MEDICAL LIMITED
REGISTERED NUMBER:08123406
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M Zamani
Director

Date: 1 August 2024

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
MZ MEDICAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

MZ Medical Ltd is a private limited liability company incorporated in England and Wales. The registered office address is at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD. The principal place of business address is at 125 Old Church Street, London, SW3 6EB.
The principal activity of the company during the year was the provision of specialist medical procedures.
The company's functional and presentation currency is £ sterling.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover represents provision of medical services excluding value added tax. Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business .
Revenue from medical services is recognised in the period the service is performed.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Pensions

Defined contribution pension plan

The company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Page 3

 
MZ MEDICAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
33%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Page 4

 
MZ MEDICAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 5

 
MZ MEDICAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Plant and machinery

£



Cost


At 1 January 2023
224,673



At 31 December 2023

224,673



Depreciation


At 1 January 2023
215,019


Charge for the year on owned assets
5,057



At 31 December 2023

220,076



Net book value



At 31 December 2023
4,597



At 31 December 2022
9,654


5.


Debtors

2023
2022
£
£



Other debtors
1,257,298
916,765

Prepayments and accrued income
33,549
31,854

1,290,847
948,619


Page 6

 
MZ MEDICAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,188
1,800

Corporation tax
98,542
447,561

Other taxation and social security
1,334
976

Other creditors
65,425
204,117

Accruals and deferred income
5,183
3,758

171,672
658,212



7.


Related party transactions

Included in other debtors are interest free loans repayable on demand totalling £1,250,236 (2022 - £916,762) owed by companies with common control and ownership.
Included within other creditors is an amount of £29,238 (2022 - £191,221) owed to the directors. The amount is interest free and repayable on demand.

 
Page 7