Imaging & Therapy Limited 05364481 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Nuclear medicine practitioners Digita Accounts Production Advanced 6.30.9574.0 true false false true false 05364481 2023-04-01 2024-03-31 05364481 2024-03-31 05364481 bus:OrdinaryShareClass1 2024-03-31 05364481 core:RetainedEarningsAccumulatedLosses 2024-03-31 05364481 core:ShareCapital 2024-03-31 05364481 core:CurrentFinancialInstruments 2024-03-31 05364481 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 05364481 core:OfficeEquipment 2024-03-31 05364481 core:PlantMachinery 2024-03-31 05364481 bus:SmallEntities 2023-04-01 2024-03-31 05364481 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05364481 bus:FilletedAccounts 2023-04-01 2024-03-31 05364481 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05364481 bus:RegisteredOffice 2023-04-01 2024-03-31 05364481 bus:CompanySecretary1 2023-04-01 2024-03-31 05364481 bus:Director2 2023-04-01 2024-03-31 05364481 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 05364481 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05364481 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 05364481 core:ShareCapital 2023-04-01 2024-03-31 05364481 core:ComputerEquipment 2023-04-01 2024-03-31 05364481 core:OfficeEquipment 2023-04-01 2024-03-31 05364481 core:PlantMachinery 2023-04-01 2024-03-31 05364481 core:Subsidiary1 2023-04-01 2024-03-31 05364481 core:Subsidiary1 1 2023-04-01 2024-03-31 05364481 core:Subsidiary1 countries:UnitedKingdom 2023-04-01 2024-03-31 05364481 core:UKTax 2023-04-01 2024-03-31 05364481 1 2023-04-01 2024-03-31 05364481 countries:UnitedKingdom 2023-04-01 2024-03-31 05364481 2023-03-31 05364481 core:RetainedEarningsAccumulatedLosses 2023-03-31 05364481 core:ShareCapital 2023-03-31 05364481 core:CostValuation 2023-03-31 05364481 core:OfficeEquipment 2023-03-31 05364481 core:PlantMachinery 2023-03-31 05364481 2022-04-01 2023-03-31 05364481 2023-03-31 05364481 bus:OrdinaryShareClass1 2023-03-31 05364481 core:CurrentFinancialInstruments 2023-03-31 05364481 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 05364481 core:OfficeEquipment 2023-03-31 05364481 core:PlantMachinery 2023-03-31 05364481 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 05364481 core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 05364481 core:ShareCapital 2022-04-01 2023-03-31 05364481 core:Subsidiary1 1 2022-04-01 2023-03-31 05364481 core:UKTax 2022-04-01 2023-03-31 05364481 2022-03-31 05364481 core:RetainedEarningsAccumulatedLosses 2022-03-31 05364481 core:ShareCapital 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05364481

Imaging & Therapy Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Imaging & Therapy Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 12

 

Imaging & Therapy Limited

Company Information

Director

Dr Jamshed Bomanji

Company secretary

Mrs Dinaz Bomanji

Registered office

9 Berners Place
London
W1T 3AD

Accountants

Mehta & Tengra
9 Berners Place
London
W1T 3AD

 

Imaging & Therapy Limited

(Registration number: 05364481)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

1,186

854

Investments

6

1,035,186

1,038,072

 

1,036,372

1,038,926

Current assets

 

Debtors

7

26,328

4,099

Cash at bank and in hand

 

228,723

125,461

 

255,051

129,560

Creditors: Amounts falling due within one year

8

(43,935)

(34,601)

Net current assets

 

211,116

94,959

Total assets less current liabilities

 

1,247,488

1,133,885

Provisions for liabilities

(297)

(213)

Net assets

 

1,247,191

1,133,672

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

1,247,091

1,133,572

Shareholders' funds

 

1,247,191

1,133,672

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 10 October 2024
 

 

Imaging & Therapy Limited

(Registration number: 05364481)
Balance Sheet as at 31 March 2024

.........................................
Dr Jamshed Bomanji
Director

 

Imaging & Therapy Limited

Statement of Changes in Equity for the Year Ended 31 March 2024

Share capital
£

Retained earnings
£

Total
£

At 1 April 2023

100

1,133,572

1,133,672

Profit for the year

-

119,519

119,519

Dividends

-

(6,000)

(6,000)

At 31 March 2024

100

1,247,091

1,247,191

Share capital
£

Retained earnings
£

Total
£

At 1 April 2022

100

1,033,234

1,033,334

Profit for the year

-

112,838

112,838

Dividends

-

(12,500)

(12,500)

At 31 March 2023

100

1,133,572

1,133,672

 

Imaging & Therapy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
9 Berners Place
London
W1T 3AD
United Kingdom

These financial statements were authorised for issue by the director on 10 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Imaging & Therapy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% on reducing balance

Office equipment

33% on reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Imaging & Therapy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

4

Taxation

Tax charged/(credited) in the profit and loss account

 

Imaging & Therapy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

2024
£

2023
£

Current taxation

UK corporation tax

40,115

26,528

UK corporation tax adjustment to prior periods

73

-

40,188

26,528

Deferred taxation

Arising from origination and reversal of timing differences

83

-

Arising from changes in tax rates and laws

-

(82)

Total deferred taxation

83

(82)

Tax expense in the income statement

40,271

26,446

Deferred tax

 

Imaging & Therapy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 April 2023

1,225

9,219

10,444

Additions

-

846

846

At 31 March 2024

1,225

10,065

11,290

Depreciation

At 1 April 2023

963

8,627

9,590

Charge for the year

39

475

514

At 31 March 2024

1,002

9,102

10,104

Carrying amount

At 31 March 2024

223

963

1,186

At 31 March 2023

262

592

854

6

Investments

2024
£

2023
£

Investments in subsidiaries

100

100

Fixed asset group loan

1,035,086

1,037,972

1,035,186

1,038,072

Subsidiaries

£

Cost or valuation

At 1 April 2023

100

Provision

Carrying amount

At 31 March 2024

100

At 31 March 2023

100

 

Imaging & Therapy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Fixed asset group loan

£

Cost or valuation

At 1 April 2023

1,037,972

Repayment

(4,920)

Additions

2,034

At 31 March 2024

1,035,086

There are no repayment terms and the loan is interest free.

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Ventcourt Property Ltd

9 Berners Place, London, W1T 3AD

United Kingdom

Ordinary

100%

100%

Subsidiary undertakings

Ventcourt Property Ltd

The principal activity of Ventcourt Property Ltd is Property Investments. The profit for the financial period of Ventcourt Property Ltd was £22,464 and the aggregate amount of capital and reserves at the end of the period was £537,231.

7

Debtors

Current

2024
£

2023
£

Trade debtors

21,711

-

Other taxation

4,617

4,099

 

26,328

4,099

 

Imaging & Therapy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Corporation tax

40,075

26,454

Accruals and deferred income

2,220

4,320

Other creditors

1,358

3,814

Director loan account

282

13

43,935

34,601

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

10

Dividends

Final dividends paid

   

2024
£

 

2023
£

Final dividend of £60.00 (2023 - £125.00) per each Ordinary

 

6,000

 

12,500

         
 

Imaging & Therapy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

11

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Dividends paid to the director

   

2024
£

 

2023
£

Dr Jamshed Bomanji

       

Dividend

 

4,500

 

9,375

         

12

Ultimate controlling party

The ultimate controlling party is Dr Jamshed Bomanji .