AZIMUTH HEALTHCARE SOLUTIONS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Company registration number SC456484 (Scotland)
PAGES FOR FILING WITH REGISTRAR
AZIMUTH HEALTHCARE SOLUTIONS LTD
COMPANY INFORMATION
Directors
Mr David Snape
Mrs Geraldine Snape
Secretary
Mrs Geraldine Snape
Company number
SC456484
Registered office
49 Wellesley Crescent
Hairmyres
East Kilbride
South Lanarkshire
Scotland
G75 8TS
Accountants
Dains
46 Bank Street
Kilmarnock
Ayrshire
KA1 1HA
AZIMUTH HEALTHCARE SOLUTIONS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
AZIMUTH HEALTHCARE SOLUTIONS LTD
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
157
129
Current assets
Debtors
5
1,912
8,550
Cash at bank and in hand
20,280
34,626
22,192
43,176
Creditors: amounts falling due within one year
6
(724)
(6,590)
Net current assets
21,468
36,586
Net assets
21,625
36,715
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
21,525
36,615
Total equity
21,625
36,715
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 17 October 2024 and are signed on its behalf by:
Mr David Snape
Director
Company registration number SC456484 (Scotland)
AZIMUTH HEALTHCARE SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
Company information
Azimuth Healthcare Solutions Ltd is a private company limited by shares incorporated in Scotland. The registered office is 49 Wellesley Crescent, Hairmyres, East Kilbride, South Lanarkshire, Scotland, G75 8TS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue represents income from consultancy services.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
20% on cost
Computers
33% on cost
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.
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
AZIMUTH HEALTHCARE SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
5,660
Adjustments in respect of prior periods
(685)
Total current tax
(685)
5,660
AZIMUTH HEALTHCARE SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023
3,243
Additions
92
Disposals
(700)
At 31 August 2024
2,635
Depreciation and impairment
At 1 September 2023
3,114
Depreciation charged in the year
64
Eliminated in respect of disposals
(700)
At 31 August 2024
2,478
Carrying amount
At 31 August 2024
157
At 31 August 2023
129
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
5,205
Corporation tax recoverable
685
Other debtors
1,227
3,345
1,912
8,550
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4
247
Corporation tax
5,643
Other creditors
720
700
724
6,590
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
AZIMUTH HEALTHCARE SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
7
Called up share capital
(Continued)
- 5 -
8
Related party transactions
Oceanic Thermal Power Ltd
A company of which D Snape is a director.
During the period the company paid expenses of £853 of their behalf. The total balance owed at 31 August 2024 totalled £853, which remained outstanding at the balance sheet date.
9
Directors' transactions
Dividends totalling £10,942 (2023 - £22,600) were paid in the year in respect of shares held by the company's directors.
During the year the director repaid the company £2,742. The total owed by the director at 31 August 2024 was £0 (2023 £2,742).