Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 07888594 K A Rahman M M Rahman true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07888594 2022-12-31 07888594 2023-12-31 07888594 2023-01-01 2023-12-31 07888594 frs-core:CurrentFinancialInstruments 2023-12-31 07888594 frs-core:Non-currentFinancialInstruments 2023-12-31 07888594 frs-core:BetweenOneFiveYears 2023-12-31 07888594 frs-core:FurnitureFittings 2023-12-31 07888594 frs-core:FurnitureFittings 2023-01-01 2023-12-31 07888594 frs-core:FurnitureFittings 2022-12-31 07888594 frs-core:MotorVehicles 2023-12-31 07888594 frs-core:MotorVehicles 2023-01-01 2023-12-31 07888594 frs-core:MotorVehicles 2022-12-31 07888594 frs-core:WithinOneYear 2023-12-31 07888594 frs-core:ShareCapital 2023-12-31 07888594 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 07888594 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07888594 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 07888594 frs-bus:SmallEntities 2023-01-01 2023-12-31 07888594 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07888594 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07888594 1 2023-01-01 2023-12-31 07888594 frs-bus:Director1 2023-01-01 2023-12-31 07888594 frs-bus:Director1 2022-12-31 07888594 frs-bus:Director1 2023-12-31 07888594 frs-bus:Director2 2023-01-01 2023-12-31 07888594 frs-bus:Director2 2022-12-31 07888594 frs-bus:Director2 2023-12-31 07888594 frs-countries:EnglandWales 2023-01-01 2023-12-31 07888594 2021-12-31 07888594 2022-12-31 07888594 2022-01-01 2022-12-31 07888594 frs-core:CurrentFinancialInstruments 2022-12-31 07888594 frs-core:Non-currentFinancialInstruments 2022-12-31 07888594 frs-core:BetweenOneFiveYears 2022-12-31 07888594 frs-core:WithinOneYear 2022-12-31 07888594 frs-core:ShareCapital 2022-12-31 07888594 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 07888594
Ascotmed Limited
Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07888594
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 53,927 67,437
53,927 67,437
CURRENT ASSETS
Debtors 5 362,280 357,399
Cash at bank and in hand 5,921 2,502
368,201 359,901
Creditors: Amounts Falling Due Within One Year 6 (17,008 ) (35,765 )
NET CURRENT ASSETS (LIABILITIES) 351,193 324,136
TOTAL ASSETS LESS CURRENT LIABILITIES 405,120 391,573
Creditors: Amounts Falling Due After More Than One Year 7 (63,098 ) (76,432 )
NET ASSETS 342,022 315,141
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 341,922 315,041
SHAREHOLDERS' FUNDS 342,022 315,141
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For the 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.
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.
On behalf of the board
K A Rahman
Director
12th September 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Ascotmed Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07888594 . The registered office is 49 Mapperley Road, Mapperley Park, Nottingham, NG3 5AQ.
The presentation currency of the financial statements is the Pound Sterling (£).
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 consideration received or receivable for provision of services in the ordinary course of the company's activities.
Turnover from provision of medical services is recognised when the service has been undertaken and the amount of turnover can be measured 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:
Motor Vehicles 20% on reducing balance
Fixtures & Fittings 25% on reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
2.5. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
2.6. Deferred Tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
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4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2023 83,747 6,720 90,467
As at 31 December 2023 83,747 6,720 90,467
Depreciation
As at 1 January 2023 16,749 6,281 23,030
Provided during the period 13,400 110 13,510
As at 31 December 2023 30,149 6,391 36,540
Net Book Value
As at 31 December 2023 53,598 329 53,927
As at 1 January 2023 66,998 439 67,437
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 363,112 357,399
Due after more than one year
Other debtors (832) -
362,280 357,399
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 10,033 10,033
Trade creditors 2,822 1,680
Other creditors 960 1,200
Taxation and social security 3,193 22,852
17,008 35,765
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 55,123 65,157
Bank loans 7,975 11,275
63,098 76,432
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8. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 10,033 10,033
Later than one year and not later than five years 55,123 65,157
65,156 75,190
65,156 75,190
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
The following advances and credits to directors subsisted during the current and prior periods:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Dr Khandokar Rahman 108,291 5,559 (5,559 ) - 108,291
Mrs Mali Rahman 169,509 8,500 (7,164 ) - 170,845
11. Ultimate Controlling Party
The company was under the control of K A Rahman and M M Rahman through out the current and previous year. They are the managing directors and shareholders.
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