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Company No: 11681881 (England and Wales)

HEAD AND NECK DIAGNOSTICS LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

HEAD AND NECK DIAGNOSTICS LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

HEAD AND NECK DIAGNOSTICS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 November 2023
HEAD AND NECK DIAGNOSTICS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 November 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 71,309 24,680
71,309 24,680
Current assets
Debtors 4 11,419 0
Cash at bank and in hand 181,065 84,134
192,484 84,134
Creditors: amounts falling due within one year 5 ( 31,748) ( 16,662)
Net current assets 160,736 67,472
Total assets less current liabilities 232,045 92,152
Provision for liabilities ( 17,827) ( 6,170)
Net assets 214,218 85,982
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 214,118 85,882
Total shareholders' funds 214,218 85,982

For the financial 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.

Directors' responsibilities:

The financial statements of Head and Neck Diagnostics Limited (registered number: 11681881) were approved and authorised for issue by the Board of Directors on 29 August 2024. They were signed on its behalf by:

Dr Steven Colley
Director
HEAD AND NECK DIAGNOSTICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
HEAD AND NECK DIAGNOSTICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Head and Neck Diagnostics Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 15a King George Avenue, Droitwich, WR9 7BB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Vehicles 5 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Vehicles Computer equipment Total
£ £ £
Cost
At 01 December 2022 52,427 9,193 61,620
Additions 69,449 2,866 72,315
Disposals ( 51,782) 0 ( 51,782)
At 30 November 2023 70,094 12,059 82,153
Accumulated depreciation
At 01 December 2022 31,367 5,573 36,940
Charge for the financial year 11,074 2,505 13,579
Disposals ( 39,675) 0 ( 39,675)
At 30 November 2023 2,766 8,078 10,844
Net book value
At 30 November 2023 67,328 3,981 71,309
At 30 November 2022 21,060 3,620 24,680

4. Debtors

2023 2022
£ £
VAT recoverable 11,419 0

5. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to directors 312 0
Accruals 2,450 2,451
Taxation and social security 28,986 14,211
31,748 16,662

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
10 Ordinary shares of £ 10.00 each 100 100

7. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Amounts owed to directors 312 0

During the financial year, directors received dividends totalling £7,200.