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Registration number: 07546178

Correlate Medical Records Limited

Unaudited Filleted Financial Statements

for the Period from 1 April 2024 to 30 September 2024

 

Correlate Medical Records Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Correlate Medical Records Limited

Company Information

Directors

Mrs M E Deiraniya

Mr D Deiraniya

Registered office

Trefusis House
73 Clinton Road
Redruth
Cornwall
TR15 2LT

 

Correlate Medical Records Limited

(Registration number: 07546178)
Balance Sheet as at 30 September 2024

Note

2024
£

2024
£

Fixed assets

 

Intangible assets

4

-

880

Tangible assets

5

-

151

 

-

1,031

Current assets

 

Debtors

6

165

199

Cash at bank and in hand

 

2,337

3,110

 

2,502

3,309

Creditors: Amounts falling due within one year

7

(2,443)

(2,668)

Net current assets

 

59

641

Total assets less current liabilities

 

59

1,672

Provisions for liabilities

-

(116)

Net assets

 

59

1,556

Capital and reserves

 

Called up share capital

2

2

Retained earnings

57

1,554

Shareholders' funds

 

59

1,556

For the financial period ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 December 2024 and signed on its behalf by:
 

.........................................
Mrs M E Deiraniya
Director

 

Correlate Medical Records Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Trefusis House
73 Clinton Road
Redruth
Cornwall
TR15 2LT

These financial statements were authorised for issue by the Board on 2 December 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. The figures in the financial statements have been rounded to the nearest pound sterling.

Disclosure of long or short period

The accounts cover a six month period to 30 September 2024. This is because the company ceased trading on 30 September 2024. Therefore the comparative amounts are not entirely comparable.

Going concern

The accounts have not been prepared on a going concern basis as the company ceased trading on 30 September 2024.

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 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.

 

Correlate Medical Records Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 30 September 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

Fixtures & Fittings

25% reducing balance

Office equipment

33% straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website development costs

20% reducing balance

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.

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.

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.

 

Correlate Medical Records Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 30 September 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 0 (2024 - 0).

4

Intangible assets

Website development costs
 £

Total
£

Cost or valuation

At 1 April 2024

1,200

1,200

Disposals

(1,200)

(1,200)

At 30 September 2024

-

-

Amortisation

At 1 April 2024

320

320

Amortisation eliminated on disposals

(320)

(320)

At 30 September 2024

-

-

Carrying amount

At 30 September 2024

-

-

At 31 March 2024

880

880

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2024

2,448

2,448

Disposals

(2,448)

(2,448)

At 30 September 2024

-

-

Depreciation

At 1 April 2024

2,297

2,297

Eliminated on disposal

(2,297)

(2,297)

At 30 September 2024

-

-

Carrying amount

At 30 September 2024

-

-

At 31 March 2024

151

151

 

Correlate Medical Records Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 30 September 2024

6

Debtors

Current

2024
£

2024
£

Trade debtors

-

55

Prepayments

-

144

Other debtors

165

-

 

165

199

7

Creditors

Creditors: amounts falling due within one year

2024
£

2024
£

Due within one year

Accruals and deferred income

840

840

Other creditors

1,603

1,828

2,443

2,668