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Registered number: 11984948









SAB IMAGING SOLUTIONS LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

 
SAB IMAGING SOLUTIONS LTD
 
 
COMPANY INFORMATION


Directors
Dr S Boddu 
S Boddu 




Registered number
11984948



Registered office
7 The Close

Norwich

Norfolk

NR1 4DJ




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ





 
SAB IMAGING SOLUTIONS LTD
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2 - 3
Notes to the financial statements
 
 
4 - 7


 
SAB IMAGING SOLUTIONS LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SAB IMAGING SOLUTIONS LTD
FOR THE YEAR ENDED 31 MAY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SAB Imaging Solutions Ltd for the year ended 31 May 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the Board of directors of SAB Imaging Solutions Ltd, as a body, in accordance with the terms of our engagement letter dated 8 June 2022Our work has been undertaken solely to prepare for your approval the financial statements of SAB Imaging Solutions Ltd and state those matters that we have agreed to state to the Board of directors of SAB Imaging Solutions Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SAB Imaging Solutions Ltd and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that SAB Imaging Solutions Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of SAB Imaging Solutions Ltd. You consider that SAB Imaging Solutions Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of SAB Imaging Solutions Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  





MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ

30 August 2024
Page 1

 
SAB IMAGING SOLUTIONS LTD
REGISTERED NUMBER: 11984948

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
116
194

Investments
 5 
-
10

  
116
204

Current assets
  

Debtors: amounts falling due within one year
 6 
324
927

Cash at bank and in hand
  
39,226
22,844

  
39,550
23,771

Creditors: amounts falling due within one year
 7 
(21,951)
(16,349)

Net current assets
  
 
 
17,599
 
 
7,422

Total assets less current liabilities
  
17,715
7,626

Provisions for liabilities
  

Deferred tax
  
(22)
(37)

  
 
 
(22)
 
 
(37)

Net assets
  
17,693
7,589


Capital and reserves
  

Called up share capital 
 8 
30
30

Profit and loss account
  
17,663
7,559

  
17,693
7,589


Page 2

 
SAB IMAGING SOLUTIONS LTD
REGISTERED NUMBER: 11984948
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 August 2024.






Dr S Boddu
Director

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
SAB IMAGING SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

SAB Imaging Ltd is a private company limited by shares, incorporated and domiciled in England and Wales.  The registered office is 7 The Close, Norwich, Norfolk, NR1 4DJ.
The Company's principal place of activity is Gorleston, Norfolk and the Company's principal activity is the provision of medical consultancy services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is measured at the fair value of the consideration received or receivable.  Revenue for radiology services is recognised in the period in which the services are provided.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax.
Deferred tax balances are recognised in respect of timing differences that have originated but not reversed by the balance sheet date.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
SAB IMAGING SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured at the undiscounted amount of the cash or consideration expected to be paid or received.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
SAB IMAGING SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 June 2023
388



At 31 May 2024

388



Depreciation


At 1 June 2023
194


Charge for the year on owned assets
78



At 31 May 2024

272



Net book value



At 31 May 2024
116



At 31 May 2023
194


5.


Fixed asset investments





Unlisted investments

£





At 1 June 2023
10


Disposals
(10)



At 31 May 2024
-




Page 6

 
SAB IMAGING SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

6.


Debtors

2024
2023
£
£


Other debtors
-
730

Prepayments and accrued income
324
197

324
927



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
35
35

Corporation tax
2,434
617

Other creditors
16,243
12,482

Accruals and deferred income
3,239
3,215

21,951
16,349



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



10 Ordinary A shares of £1.00 each
10
10
10 Ordinary B shares of £1.00 each
10
10
10 Ordinary C shares of £1.00 each
10
10

30

30



9.


Related party transactions

As at 31 May 2024 the balance owed to the directors by the Company was £16,243 (2023 - £12,482).

 
Page 7