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Registered number: 11911982
Island Medics Recruitment Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 11911982
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 38,253 46,650
Investments 5 70,077 36,832
108,330 83,482
CURRENT ASSETS
Debtors 7,680 186,692
Cash at bank and in hand 574,304 223,564
581,984 410,256
Creditors: Amounts Falling Due Within One Year (136,555 ) (90,952 )
NET CURRENT ASSETS (LIABILITIES) 445,429 319,304
TOTAL ASSETS LESS CURRENT LIABILITIES 553,759 402,786
NET ASSETS 553,759 402,786
CAPITAL AND RESERVES
Called up share capital 6 1 1
Profit and Loss Account 553,758 402,785
SHAREHOLDERS' FUNDS 553,759 402,786
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Somashekar Gangaiah
Director
16th July 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Island Medics Recruitment Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11911982 . The registered office is 4 Waterbridge, Worsley, Manchester, M28 2GE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 100% AIA
Motor Vehicles 18% reducing balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 1)
6 1
4. Tangible Assets
Total
£
Cost
As at 1 April 2023 88,020
Additions 1,641
As at 31 March 2024 89,661
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 April 2023 41,370
Provided during the period 10,038
As at 31 March 2024 51,408
Net Book Value
As at 31 March 2024 38,253
As at 1 April 2023 46,650
5. Investments
Total
£
Cost
As at 1 April 2023 36,832
Additions 25,585
Revaluations 7,660
As at 31 March 2024 70,077
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 70,077
As at 1 April 2023 36,832
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 4