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Registered number: 12137428









TEVA MEDICAL SERVICES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
TEVA MEDICAL SERVICES LIMITED
REGISTERED NUMBER: 12137428

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
29,171
47,575

  
29,171
47,575

Current assets
  

Debtors: amounts falling due after more than one year
 5 
275,000
75,000

Debtors: amounts falling due within one year
 5 
7,406
6,456

Cash at bank and in hand
 6 
85,052
189,160

  
367,458
270,616

Creditors: amounts falling due within one year
 7 
(40,556)
(29,793)

Net current assets
  
 
 
326,902
 
 
240,823

Total assets less current liabilities
  
356,073
288,398

Creditors: amounts falling due after more than one year
 8 
(29,924)
(36,518)

Provisions for liabilities
  

Other provisions
  
(11,081)
(11,082)

  
 
 
(11,081)
 
 
(11,082)

Net assets
  
315,068
240,798


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
314,968
240,698

  
315,068
240,798


Page 1

 
TEVA MEDICAL SERVICES LIMITED
REGISTERED NUMBER: 12137428
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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 income and retained earnings 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 on 9 September 2024.




................................................
J Raghwani
Director

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

Page 2

 
TEVA MEDICAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

TEVA Medical Services Limited is a private company limited by shares. The company is incorporated in England and Wales and the address of the registered office is Aston House, Cornwall Avenue, London, N3 1LF.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
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.

Page 3

 
TEVA MEDICAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

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 balance sheet date in the countries where the Company operates and generates income.

 
2.6

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
4 years straight line
Office equipment
-
20%
reducing balance

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.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
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.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
TEVA MEDICAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
73,109
1,124
74,233



At 31 March 2024

73,109
1,124
74,233



Depreciation


At 1 April 2023
26,169
489
26,658


Charge for the year on owned assets
18,277
127
18,404



At 31 March 2024

44,446
616
45,062



Net book value



At 31 March 2024
28,663
508
29,171



At 31 March 2023
46,940
635
47,575

Page 5

 
TEVA MEDICAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
275,000
75,000

275,000
75,000


2024
2023
£
£

Due within one year

Other debtors
5,465
5,409

Prepayments and accrued income
1,941
1,047

7,406
6,456



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
85,052
189,160

85,052
189,160



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
30,862
18,108

Obligations under finance lease and hire purchase contracts
7,193
7,193

Other creditors
2,501
4,492

40,556
29,793


Page 6

 
TEVA MEDICAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
29,924
36,518

29,924
36,518


 
Page 7