2023-02-102023-12-312023-12-31false14654033ARTIS MEDICAL 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ARTIS MEDICAL LTD

Registered Number
14654033
(England and Wales)

Unaudited Financial Statements for the Period ended
31 December 2023

ARTIS MEDICAL LTD
Company Information
for the period from 10 February 2023 to 31 December 2023

Directors

COOK, Ashoobgar
MUELLER, Juerg
SCHWEITZER, Andreas Michael

Company Secretary

ZOHOURIANRAD, Maryam

Registered Address

9 Kingsway
London
WC2B 6XF

Registered Number

14654033 (England and Wales)
ARTIS MEDICAL LTD
Balance Sheet as at
31 December 2023

Notes

2023

£

£

Called up share capital not paid1,000
Current assets
Debtors12,944,279
Cash at bank and on hand6,085
12,950,364
Creditors amounts falling due within one year3(12,970,790)
Net current assets (liabilities)(19,426)
Total assets less current liabilities(19,426)
Net assets(19,426)
Capital and reserves
Called up share capital1,000
Profit and loss account(20,426)
Shareholders' funds(19,426)
The financial statements were approved and authorised for issue by the Board of Directors on 24 September 2024, and are signed on its behalf by:
SCHWEITZER, Andreas Michael
Director
Registered Company No. 14654033
ARTIS MEDICAL LTD
Notes to the Financial Statements
for the period ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue 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.
Interest income
Interest income is recognised using the effective interest rate method.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

2023
Average number of employees during the year0
3.Creditors: amounts due within one year

2023

£
Amounts owed to related parties217,519
Other creditors12,753,271
Total12,970,790