REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
Micromed Electronics Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
Micromed Electronics Limited |
Micromed Electronics Limited (Registered number: 03076117) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Micromed Electronics Limited |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
35 Station Approach |
West Byfleet |
Surrey |
KT14 6NF |
Micromed Electronics Limited (Registered number: 03076117) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
219,564 | 214,616 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
1,687,853 | 1,579,636 |
The director acknowledges his 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. |
The financial statements were approved by the director and authorised for issue on |
Micromed Electronics Limited (Registered number: 03076117) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Micromed Electronics Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The director expects that trading over the next twelve months will generate positive cash flows and has therefore continued to adopt the going concern basis of preparation. |
Turnover |
Turnover represents amounts receivable for goods and services and prepaid maintenance contracts, net of value added tax. Turnover for service contracts is recognised when the company obtains the right to consideration. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Micromed Electronics Limited (Registered number: 03076117) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
4. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Plant and | Motor |
property | property | machinery | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022: |
31.12.23 | 31.12.22 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Micromed Electronics Limited (Registered number: 03076117) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
7. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued |
The loan to the director was unsecured and repayable on demand. Interest was charged at the HMRC rate for beneficial loans. |
8. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £50,800 (2022 - £145,800) were paid to the director . |
Dividends of £50,800 were also paid to Mrs M De Piano, spouse of the director. |
Mr D De Piano and Mrs M De Piano together, previously have granted the company an unsecured, interest free and repayable on demand loan, and at the balance sheet date the company owed them £0 (2022 £47,342). |
9. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is the director and shareholder D De Piano |