IRIS Accounts Production v24.3.0.553 11153604 Board of Directors 1.2.23 31.1.24 31.1.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh111536042023-01-31111536042024-01-31111536042023-02-012024-01-31111536042022-01-31111536042022-02-012023-01-31111536042023-01-3111153604ns15:EnglandWales2023-02-012024-01-3111153604ns14:PoundSterling2023-02-012024-01-3111153604ns10:Director12023-02-012024-01-3111153604ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3111153604ns10:SmallEntities2023-02-012024-01-3111153604ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3111153604ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3111153604ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3111153604ns10:FullAccounts2023-02-012024-01-3111153604ns10:Director22023-02-012024-01-3111153604ns10:RegisteredOffice2023-02-012024-01-3111153604ns5:CurrentFinancialInstruments2024-01-3111153604ns5:CurrentFinancialInstruments2023-01-3111153604ns5:Non-currentFinancialInstruments2024-01-3111153604ns5:Non-currentFinancialInstruments2023-01-3111153604ns5:ShareCapital2024-01-3111153604ns5:ShareCapital2023-01-3111153604ns5:RetainedEarningsAccumulatedLosses2024-01-3111153604ns5:RetainedEarningsAccumulatedLosses2023-01-3111153604ns5:LeaseholdImprovements2023-02-012024-01-3111153604ns5:PlantMachinery2023-02-012024-01-3111153604ns5:FurnitureFittings2023-02-012024-01-3111153604ns5:MotorVehicles2023-02-012024-01-3111153604ns5:ComputerEquipment2023-02-012024-01-3111153604ns5:LandBuildings2023-02-012024-01-3111153604ns5:LandBuildings2024-01-3111153604ns5:LeaseholdImprovements2024-01-3111153604ns5:PlantMachinery2024-01-3111153604ns5:LandBuildings2023-01-3111153604ns5:LeaseholdImprovements2023-01-3111153604ns5:PlantMachinery2023-01-3111153604ns5:LandBuildings2023-01-3111153604ns5:LeaseholdImprovements2023-01-3111153604ns5:PlantMachinery2023-01-3111153604ns5:FurnitureFittings2023-01-3111153604ns5:MotorVehicles2023-01-3111153604ns5:ComputerEquipment2023-01-3111153604ns5:FurnitureFittings2024-01-3111153604ns5:MotorVehicles2024-01-3111153604ns5:ComputerEquipment2024-01-3111153604ns5:FurnitureFittings2023-01-3111153604ns5:MotorVehicles2023-01-3111153604ns5:ComputerEquipment2023-01-31
REGISTERED NUMBER: 11153604 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

CORBETT MEDICAL LIMITED

CORBETT MEDICAL LIMITED (REGISTERED NUMBER: 11153604)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CORBETT MEDICAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: G D Corbett
Mrs G L Corbett





REGISTERED OFFICE: 115c Milton Road
Cambridge
CB4 1XE





REGISTERED NUMBER: 11153604 (England and Wales)





ACCOUNTANTS: Prentis & Co LLP
Chartered Accountants
115c Milton Road
Cambridge
CB4 1XE

CORBETT MEDICAL LIMITED (REGISTERED NUMBER: 11153604)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 204,597 33,964

CURRENT ASSETS
Debtors 5 10,855 10,228
Cash at bank 58,320 150,126
69,175 160,354
CREDITORS
Amounts falling due within one year 6 78,281 34,638
NET CURRENT (LIABILITIES)/ASSETS (9,106 ) 125,716
TOTAL ASSETS LESS CURRENT
LIABILITIES

195,491

159,680

CREDITORS
Amounts falling due after more than one
year

7

(48,032

)

-

PROVISIONS FOR LIABILITIES (38,495 ) -
NET ASSETS 108,964 159,680

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 108,864 159,580
SHAREHOLDERS' FUNDS 108,964 159,680

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CORBETT MEDICAL LIMITED (REGISTERED NUMBER: 11153604)

BALANCE SHEET - continued
31 JANUARY 2024


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:





G D Corbett - Director


CORBETT MEDICAL LIMITED (REGISTERED NUMBER: 11153604)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Corbett Medical Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements include the results of the company's operations all of which are continuing. The financial statements have been prepared on a going concern basis. This may not be appropriate because at 31st January 2024 the company's current liabilities exceeded its current assets by £9,106 and total liabilities of the company were £164,808. The company is reliant upon the continued support of its directors, bank and creditors, but there is no evidence to suggest that this will not continue and that further funds will not be provided as necessary to enable the company to continue as a going concern.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Other equipment - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Investments have not been depreciated due to the nature of the assets.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

CORBETT MEDICAL LIMITED (REGISTERED NUMBER: 11153604)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Other
Investments property equipment
£    £    £   
COST
Additions 29,890 24,387 1,968
At 31 January 2024 29,890 24,387 1,968
DEPRECIATION
At 1 February 2023 - - -
Charge for year - 832 82
At 31 January 2024 - 832 82
NET BOOK VALUE
At 31 January 2024 29,890 23,555 1,886
At 31 January 2023 - - -

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2023 43,457 - 25,156 68,613
Additions - 135,277 249 191,771
At 31 January 2024 43,457 135,277 25,405 260,384
DEPRECIATION
At 1 February 2023 17,734 - 16,915 34,649
Charge for year 10,535 5,637 4,052 21,138
At 31 January 2024 28,269 5,637 20,967 55,787
NET BOOK VALUE
At 31 January 2024 15,188 129,640 4,438 204,597
At 31 January 2023 25,723 - 8,241 33,964

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 10,855 10,228

CORBETT MEDICAL LIMITED (REGISTERED NUMBER: 11153604)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 57,639 -
Tax 17,565 31,410
Social security and other taxes 1,777 2,016
Accruals and deferred income 1,300 1,212
78,281 34,638

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 48,032 -

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £195,942 (2023 - £105,614) were paid to the directors .

9. ULTIMATE CONTROLLING PARTY

The controlling parties are Mr G D Corbett and Mrs G L Corbett by virtue of their 100% joint ownership of the issued ordinary share capital.