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COMPANY REGISTRATION NUMBER: 9228607
PRIORY MEDICARE LIMITED
Unaudited Financial Statements
30 September 2023
PRIORY MEDICARE LIMITED
Financial Statements
Year ended 30 September 2023
Contents
Page
Director's report
1
Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
PRIORY MEDICARE LIMITED
Director's Report
Year ended 30 September 2023
The director presents her report and the unaudited financial statements of the company for the year ended 30 September 2023 .
The company has been dormant as defined in section 1169 of the Companies Act 2006 throughout the year and preceding financial year. It is anticipated that the company will remain dormant for the foreseeable future.
Director
The director who served the company during the year was as follows:
Dr. A. Sirpal
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 25 September 2024 and signed on behalf of the board by:
Dr. A. Sirpal
Director
Registered office:
c/o Vaghela & Co Services Limited
Clark's Courtyard
145 Granville Street
Birmingham
B1 1SB
PRIORY MEDICARE LIMITED
Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of PRIORY MEDICARE LIMITED
Year ended 30 September 2023
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 30 September 2023, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
VAGHELA & CO. (SERVICES) LTD. Chartered Certified Accountants
P.O. Box 10901 Birmingham B1 1ZQ
25 September 2024
PRIORY MEDICARE LIMITED
Statement of Financial Position
30 September 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
4
662
Current assets
Debtors
5
1,161
499
Creditors: amounts falling due within one year
6
965
965
-------
----
Net current assets/(liabilities)
196
( 466)
----
----
Total assets less current liabilities
196
196
Provisions
Taxation including deferred tax
126
126
----
----
Net assets
70
70
----
----
Capital and reserves
Called up share capital
8
100
100
Profit and loss account
( 30)
( 30)
----
----
Shareholders funds
70
70
----
----
These financial statements have been prepared 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'.
The company did not trade during the current year or prior year and has not made either a profit or loss.
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Director's 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
PRIORY MEDICARE LIMITED
Statement of Financial Position (continued)
30 September 2023
These financial statements were approved by the board of directors and authorised for issue on 25 September 2024 , and are signed on behalf of the board by:
Dr. A. Sirpal
Director
Company registration number: 9228607
PRIORY MEDICARE LIMITED
Notes to the Financial Statements
Year ended 30 September 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is c/o Vaghela & Co Services Limited, Clark's Courtyard, 145 Granville Street, Birmingham, B1 1SB.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Income statement
The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current year or prior year and therefore no income statement is presented within these financial statements. There have been no movements in shareholders funds during the current year or prior year.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date except that deferred tax assets are recognised only to the extent that the directors anticipate that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax balances are not discounted.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Equipment
-
20% 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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
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.
4. Tangible assets
Equipment
Total
£
£
Cost
At 1 October 2022
1,135
1,135
Disposals
( 1,135)
( 1,135)
-------
-------
At 30 September 2023
-------
-------
Depreciation
At 1 October 2022
473
473
Disposals
( 473)
( 473)
-------
-------
At 30 September 2023
-------
-------
Carrying amount
At 30 September 2023
-------
-------
At 30 September 2022
662
662
-------
-------
5. Debtors
2023
2022
£
£
Other debtors
1,161
499
-------
----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Social security and other taxes
65
65
Other creditors
900
900
----
----
965
965
----
----
7. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2023
2022
£
£
Included in provisions
126
126
----
----
The deferred tax account consists of the tax effect of timing differences in respect of:
2023
2022
£
£
Accelerated capital allowances
126
126
----
----
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
9. Director's advances, credits and guarantees
At 30th September 2023, debtors include the following amounts due from the director:- Dr A. Sirpal £1,161 (2022 - £499 ) The loans are interest free and repayable on demand
10. Related party transactions
During the year, no advances or credits were made with the director, Dr A. Sirpal. The director, Dr A. Sirpal received no dividends for the year under review.