Company No:
Contents
Note | 29.02.2024 | |
£ | ||
Fixed assets | ||
Intangible assets | 3 |
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Tangible assets | 4 |
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8,964 | ||
Current assets | ||
Debtors | 5 |
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Cash at bank and in hand |
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18,149 | ||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 13,270 | |
Total assets less current liabilities | 22,234 | |
Provision for liabilities | 7, 8 | (
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Net assets |
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Capital and reserves | ||
Called-up share capital |
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Profit and loss account |
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Total shareholders' funds |
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Director's responsibilities:
The financial statements of Buckinghamshire Medical Limited (registered number:
Dr R Aliyar
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
Buckinghamshire Medical Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 8 The Courtyard, Wyncolls Road 8 The Courtyard, Wyncolls Road, Severalls Industrial Park, Colchester, CO4 9PE, England, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
The company's first accounting period is from incorporation on 17 February 2023 to 29 February 2024.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Trademarks, patents and licences |
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Fixtures and fittings |
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Computer equipment |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
Period from 17.02.2023 to 29.02.2024 |
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Number | |
Monthly average number of persons employed by the Company during the period, including the director |
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Trademarks, patents and licences |
Total | ||
£ | £ | ||
Cost/Valuation | |||
At 17 February 2023 |
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Additions |
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At 29 February 2024 |
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Accumulated amortisation | |||
At 17 February 2023 |
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Charge for the financial period |
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At 29 February 2024 |
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Net book value | |||
At 29 February 2024 |
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Fixtures and fittings | Computer equipment | Total | |||
£ | £ | £ | |||
Cost | |||||
At 17 February 2023 |
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Additions |
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At 29 February 2024 |
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Accumulated depreciation | |||||
At 17 February 2023 |
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Charge for the financial period |
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At 29 February 2024 |
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Net book value | |||||
At 29 February 2024 |
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29.02.2024 | |
£ | |
Amounts owed by director |
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Prepayments and accrued income |
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Other debtors |
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29.02.2024 | |
£ | |
Accruals |
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Corporation tax |
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29.02.2024 | |
£ | |
Deferred tax |
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29.02.2024 | |
£ | |
At the beginning of financial period |
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Charged to the Income Statement | (
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At the end of financial period | (
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The deferred taxation balance is made up as follows:
29.02.2024 | |
£ | |
Accelerated capital allowances | (
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