Ulundi Medical Limited 09361146 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of general medical practitioners Digita Accounts Production Advanced 6.30.9574.0 true true 09361146 2023-01-01 2023-12-31 09361146 2023-12-31 09361146 bus:OrdinaryShareClass1 2023-12-31 09361146 core:RetainedEarningsAccumulatedLosses 2023-12-31 09361146 core:ShareCapital 2023-12-31 09361146 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 09361146 core:FurnitureFittingsToolsEquipment 2023-12-31 09361146 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-12-31 09361146 bus:SmallEntities 2023-01-01 2023-12-31 09361146 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 09361146 bus:FullAccounts 2023-01-01 2023-12-31 09361146 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09361146 bus:RegisteredOffice 2023-01-01 2023-12-31 09361146 bus:Director1 2023-01-01 2023-12-31 09361146 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 09361146 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09361146 core:ComputerEquipment 2023-01-01 2023-12-31 09361146 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 09361146 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-01-01 2023-12-31 09361146 core:UKTax 2023-01-01 2023-12-31 09361146 countries:EnglandWales 2023-01-01 2023-12-31 09361146 2022-12-31 09361146 core:FurnitureFittingsToolsEquipment 2022-12-31 09361146 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-12-31 09361146 2022-01-01 2022-12-31 09361146 2022-12-31 09361146 bus:OrdinaryShareClass1 2022-12-31 09361146 core:RetainedEarningsAccumulatedLosses 2022-12-31 09361146 core:ShareCapital 2022-12-31 09361146 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 09361146 core:FurnitureFittingsToolsEquipment 2022-12-31 09361146 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-12-31 09361146 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-01-01 2022-12-31 09361146 core:UKTax 2022-01-01 2022-12-31 09361146 2021-12-31 09361146 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Ulundi Medical Limited

Registration number : 09361146



















Annual Report and Unaudited Financial Statements

for the year ended 31 December 2023

 

Ulundi Medical Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Ulundi Medical Limited

Company Information

Director

Dr Graham Colin Kemp

Registered office

Maghull Business Centre
1 Liverpool Road North
Maghull
Merseyside
L31 2HB

Accountants

McParland Williams Limited
Accountants and Tax Practitioners
13 Liverpool Road North
Maghull
Merseyside
L31 2HB

 

Ulundi Medical Limited

(Registration number: 09361146)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

978

1,459

Current assets

 

Debtors

6

378,018

312,518

Cash at bank and in hand

 

77,430

59,966

 

455,448

372,484

Creditors: Amounts falling due within one year

7

(27,264)

(28,570)

Net current assets

 

428,184

343,914

Total assets less current liabilities

 

429,162

345,373

Provisions for liabilities

(186)

(277)

Net assets

 

428,976

345,096

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

428,974

345,094

Total equity

 

428,976

345,096

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 6 March 2024
 

 

Ulundi Medical Limited

(Registration number: 09361146)
Balance Sheet as at 31 December 2023

.........................................
Dr Graham Colin Kemp
Director

   
     
 

Ulundi Medical Limited

Notes to the Unaudited Financial Statements for the year ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Maghull Business Centre
1 Liverpool Road North
Maghull
Merseyside
L31 2HB

These financial statements were authorised for issue by the director on 6 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Ulundi Medical Limited

Notes to the Unaudited Financial Statements for the year ended 31 December 2023

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

33% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Ulundi Medical Limited

Notes to the Unaudited Financial Statements for the year ended 31 December 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 1).

4

Taxation

Tax charged/(credited) in the income statement

2023
 £

2022
 £

Current taxation

UK corporation tax

25,302

26,631

Deferred taxation

Arising from origination and reversal of timing differences

(92)

277

Tax expense in the income statement

25,210

26,908

 

Ulundi Medical Limited

Notes to the Unaudited Financial Statements for the year ended 31 December 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

3,906

3,906

At 31 December 2023

3,906

3,906

Depreciation

At 1 January 2023

2,447

2,447

Charge for the year

481

481

At 31 December 2023

2,928

2,928

Carrying amount

At 31 December 2023

978

978

At 31 December 2022

1,459

1,459

6

Debtors

Note

2023
£

2022
£

Amounts owed by related parties

9

378,018

312,518

 

378,018

312,518

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Directors loan account

55

739

Taxation and social security

26,009

26,631

Other creditors

1,200

1,200

27,264

28,570

 

Ulundi Medical Limited

Notes to the Unaudited Financial Statements for the year ended 31 December 2023

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

9

Related party transactions

Summary of transactions with entities with joint control or significant interest

Kemlow Limited, a company under common control
 

Loans to related parties

2023

Entities with joint control or significant influence
£

Total
£

At start of period

312,518

312,518

Advanced

75,000

75,000

Repaid

(9,500)

(9,500)

At end of period

378,018

378,018

2022

Entities with joint control or significant influence
£

Total
£

At start of period

147,518

147,518

Advanced

165,000

165,000

At end of period

312,518

312,518