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REGISTERED NUMBER: 03076117 (England and Wales)















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: D De Piano





SECRETARY: Mrs M De Piano





REGISTERED OFFICE: 35 Station Approach
West Byfleet
Surrey
KT14 6NF





REGISTERED NUMBER: 03076117 (England and Wales)





ACCOUNTANTS: Braywood Ltd
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
219,564 214,616

CURRENT ASSETS
Debtors 5 288,437 152,718
Cash at bank 1,493,423 1,475,379
1,781,860 1,628,097
CREDITORS
Amounts falling due within one year 6 313,571 263,077
NET CURRENT ASSETS 1,468,289 1,365,020
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,687,853

1,579,636


CAPITAL AND RESERVES
Called up share capital 50 50
Capital redemption reserve 50 50
Retained earnings 1,687,753 1,579,536
SHAREHOLDERS' FUNDS 1,687,853 1,579,636
1,687,853 1,579,636

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 November 2024 and were signed by:




D De Piano - Director


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 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.

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 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on cost and 10% on cost

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 4 (2022 - 4 ) .

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 254,641 9,042 2,500 63,846 330,029
Additions - - - 20,000 20,000
Disposals - - - (22,098 ) (22,098 )
At 31 December 2023 254,641 9,042 2,500 61,748 327,931
DEPRECIATION
At 1 January 2023 52,965 7,420 2,500 52,528 115,413
Charge for year 2,593 764 - 11,695 15,052
Eliminated on disposal - - - (22,098 ) (22,098 )
At 31 December 2023 55,558 8,184 2,500 42,125 108,367
NET BOOK VALUE
At 31 December 2023 199,083 858 - 19,623 219,564
At 31 December 2022 201,676 1,622 - 11,318 214,616

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 156,900 79,043
Other debtors 131,537 73,675
288,437 152,718

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 133,106 80,112
Taxation and social security 109,304 73,056
Other creditors 71,161 109,909
313,571 263,077

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
£    £   
D De Piano
Balance outstanding at start of year - -
Amounts advanced 61,048 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 61,048 -

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