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REGISTERED NUMBER: 12191198 (England and Wales)















Unaudited Financial Statements

for the Period 1 November 2023 to 31 May 2024

for

Propel Medical Group Ltd

Propel Medical Group Ltd (Registered number: 12191198)






Contents of the Financial Statements
for the Period 1 November 2023 to 31 May 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Propel Medical Group Ltd (Registered number: 12191198)

Balance Sheet
31 May 2024

31.5.24 31.10.23
Notes £    £   
CURRENT ASSETS
Debtors 4 - 22,300
Cash at bank 13,700 5,999
13,700 28,299
CREDITORS
Amounts falling due within one year 5 (98,022 ) (101,854 )
NET CURRENT LIABILITIES (84,322 ) (73,555 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(84,322

)

(73,555

)

CAPITAL AND RESERVES
Called up share capital 160,000 160,000
Retained earnings (244,322 ) (233,555 )
(84,322 ) (73,555 )

Propel Medical Group Ltd (Registered number: 12191198)

Balance Sheet - continued
31 May 2024


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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 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.

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 Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:




Mr M Woodcock - Director



Mr D Woodcock - Director


Propel Medical Group Ltd (Registered number: 12191198)

Notes to the Financial Statements
for the Period 1 November 2023 to 31 May 2024

1. STATUTORY INFORMATION

Propel Medical Group Ltd is a private company, limited by shares, registered in England and Wales, registration number 12191198. The registered office is Unit 1 Kimberly Business Park, Blackness Lane, Keston, England, BR2 6HL.

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.

Turnover
Turnover represents net invoiced sales of goods and services in respect of the design, manufacture and installation of office equipment, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Taxation
Taxation for the period 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 period 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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.10.23
£    £   
Trade debtors - 22,300

Propel Medical Group Ltd (Registered number: 12191198)

Notes to the Financial Statements - continued
for the Period 1 November 2023 to 31 May 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.10.23
£    £   
Trade creditors 2,399 2,400
Taxation and social security 3,382 2,582
Other creditors 92,241 96,872
98,022 101,854