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No description of principal activity
2023-07-01
Sage Accounts Production Advanced 2023 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
12890901
2023-07-01
2024-06-30
12890901
2024-06-30
12890901
2023-06-30
12890901
2022-07-01
2023-06-30
12890901
2023-06-30
12890901
2022-06-30
12890901
core:PlantMachinery
2023-07-01
2024-06-30
12890901
bus:Director1
2023-07-01
2024-06-30
12890901
core:PlantMachinery
2023-06-30
12890901
core:PlantMachinery
2024-06-30
12890901
core:WithinOneYear
2024-06-30
12890901
core:WithinOneYear
2023-06-30
12890901
core:AfterOneYear
2024-06-30
12890901
core:ShareCapital
2024-06-30
12890901
core:ShareCapital
2023-06-30
12890901
core:RetainedEarningsAccumulatedLosses
2024-06-30
12890901
core:RetainedEarningsAccumulatedLosses
2023-06-30
12890901
core:BetweenOneFiveYears
2024-06-30
12890901
core:BetweenOneFiveYears
2023-06-30
12890901
core:MoreThanFiveYears
2024-06-30
12890901
core:MoreThanFiveYears
2023-06-30
12890901
core:PlantMachinery
2023-06-30
12890901
bus:SmallEntities
2023-07-01
2024-06-30
12890901
bus:AuditExempt-NoAccountantsReport
2023-07-01
2024-06-30
12890901
bus:SmallCompaniesRegimeForAccounts
2023-07-01
2024-06-30
12890901
bus:PrivateLimitedCompanyLtd
2023-07-01
2024-06-30
12890901
bus:FullAccounts
2023-07-01
2024-06-30
12890901
core:OfficeEquipment
2023-07-01
2024-06-30
12890901
core:OfficeEquipment
2023-06-30
12890901
core:OfficeEquipment
2024-06-30
COMPANY REGISTRATION NUMBER:
12890901
Filleted Unaudited Financial Statements |
|
Year ended 30 June 2024
Notes to the financial statements |
3 to 6 |
|
|
30 June 2024
Fixed assets
Tangible assets |
5 |
129,325 |
121,813 |
|
|
|
|
Current assets
Stocks |
11,216 |
12,883 |
Debtors |
6 |
47,293 |
32,125 |
Cash at bank and in hand |
22,904 |
30,786 |
|
-------- |
-------- |
|
81,413 |
75,794 |
|
|
|
|
Creditors: amounts falling due within one year |
7 |
184,769 |
175,416 |
|
--------- |
--------- |
Net current liabilities |
103,356 |
99,622 |
|
--------- |
--------- |
Total assets less current liabilities |
25,969 |
22,191 |
|
|
|
|
Creditors: amounts falling due after more than one year |
8 |
37,428 |
– |
|
|
|
|
Provisions |
32,000 |
30,000 |
|
-------- |
-------- |
Net liabilities |
(
43,459) |
(
7,809) |
|
-------- |
-------- |
|
|
|
Capital and reserves
Called up share capital |
1,000 |
1,000 |
Profit and loss account |
(
44,459) |
(
8,809) |
|
-------- |
------- |
Shareholders deficit |
(
43,459) |
(
7,809) |
|
-------- |
------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Balance Sheet (continued) |
|
30 June 2024
These financial statements were approved by the
board of directors
and authorised for issue on
28 August 2024
, and are signed on behalf of the board by:
Company registration number:
12890901
Notes to the Financial Statements |
|
Year ended 30 June 2024
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is 29 King Street, Newcastle under Lyme, Staffordshire, ST5 1ER.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the directors that they will continue to give financial support to the company for twelve months from the date of signing these financial statements. On this basis, the directors considers it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.
Revenue recognition
Turnover comprises the value of services provided in the normal course of business. Revenue is recognised when services have been performed.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Surgery equipment |
- |
25% reducing balance |
|
Office equipment |
- |
25% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The basic financial instruments of the company are as follows: Debtors Debtors do not carry any interest and are stated at their nominal values. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired. Cash at bank and in hand This comprises cash at bank and cash in hand. Trade Creditors Trade creditors are not interest bearing and are stated at their nominal value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
9
(2023:
7
).
5.
Tangible assets
|
Surgery equipment |
Office equipment |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 1 July 2023 |
155,164 |
7,254 |
162,418 |
Additions |
50,835 |
389 |
51,224 |
|
--------- |
------- |
--------- |
At 30 June 2024 |
205,999 |
7,643 |
213,642 |
|
--------- |
------- |
--------- |
Depreciation |
|
|
|
At 1 July 2023 |
38,791 |
1,814 |
40,605 |
Charge for the year |
41,802 |
1,910 |
43,712 |
|
--------- |
------- |
--------- |
At 30 June 2024 |
80,593 |
3,724 |
84,317 |
|
--------- |
------- |
--------- |
Carrying amount |
|
|
|
At 30 June 2024 |
125,406 |
3,919 |
129,325 |
|
--------- |
------- |
--------- |
At 30 June 2023 |
116,373 |
5,440 |
121,813 |
|
--------- |
------- |
--------- |
|
|
|
|
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
4,050 |
2,125 |
Other debtors |
43,243 |
30,000 |
|
-------- |
-------- |
|
47,293 |
32,125 |
|
-------- |
-------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Trade creditors |
16,713 |
13,785 |
Social security and other taxes |
4,284 |
3,483 |
Other creditors |
163,772 |
158,148 |
|
--------- |
--------- |
|
184,769 |
175,416 |
|
--------- |
--------- |
|
|
|
The hire purchase creditor of £5,741 (2023: £nil) is secured against the asset being financed.
8.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
Other creditors |
37,428 |
– |
|
-------- |
---- |
|
|
|
The hire purchase creditor of £37,428 (2023: £nil) is secured against the asset being financed.
Included within creditors: amounts falling due after more than one year is an amount of £8,862 (2023: £Nil) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
9.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2024 |
2023 |
|
£ |
£ |
Not later than 1 year |
21,886 |
19,800 |
Later than 1 year and not later than 5 years |
81,109 |
79,200 |
Later than 5 years |
52,800 |
72,600 |
|
--------- |
--------- |
|
155,795 |
171,600 |
|
--------- |
--------- |
|
|
|