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Registered Number: 12558619
England and Wales

 

 

 

MEDICAL ISIGHT (UK) LTD.


Unaudited Financial Statements
 


Period of accounts

Start date: 01 May 2023

End date: 30 April 2024
Directors M J C Edwards
D L C Hall-Tipping
Registered Number 12558619
Registered Office 9th Floor 107 Cheapside,
London, United Kingdom,
EC2V 6DN
Accountants Blue Peak
100 Berkshire Place
GF33
Winnersh
RG41 5RD
Secretary OHS Secretaries Limited
1
 

 
Notes

 
2024
£

  2023
£
(as restated)
Fixed assets      
Tangible fixed assets 3 11,206    10,452 
11,206    10,452 
Current assets      
Debtors 4 225,682    105,458 
Cash at bank and in hand 6,833    45,843 
232,515    151,301 
Creditors: amount falling due within one year 5 (811,125)   (420,872)
Net current assets (578,610)   (269,571)
 
Total assets less current liabilities (567,404)   (259,119)
Net assets (567,404)   (259,119)
 

Capital and reserves
     
Profit and loss account (567,404)   (259,119)
Shareholders' funds (567,404)   (259,119)
 


For the year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 16 January 2025 and were signed on its behalf by:


-------------------------------
D L C Hall-Tipping
Director
2
Company information
Medical iSight Ltd. is a private company limited by shares incorporated in England and Wales. The registered office is 9th Floor, 107 Cheapside, London, EC2V6DN.
1.

Accounting policies

Accounting convention
These financial statements have been prepared in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the requirements of the Companies Act 2006 as applicable to companies subject to the small Companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 5 Years Straight Line
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are re-translated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2.

Average number of employees

Average number of employees during the year was 9 (2023 : 8).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 May 2023 12,348    12,348 
Additions 3,582    3,582 
Disposals  
At 30 April 2024 15,930    15,930 
Depreciation
At 01 May 2023 1,896    1,896 
Charge for year 2,828    2,828 
On disposals  
At 30 April 2024 4,724    4,724 
Net book values
Closing balance as at 30 April 2024 11,206    11,206 
Opening balance as at 01 May 2023 10,452    10,452 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 168,629    52,008 
Other Debtors 17,725    6,615 
Prepayments 468    7,792 
R&D Credit Receivable 38,860    38,860 
VAT   183 
225,682    105,458 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 17,625    18,726 
PAYE & Social Security 9,119    21,806 
Other Creditors 742,072    340,605 
Accruals 982    1,012 
Wages and salaries control   38,723 
Directors' Current Accounts 40,739   
VAT 588   
811,125    420,872 

6.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
1 Ordinary share of £0.01 each  
 

7.

Prior period restatement

The following restatement is in relation to the R&D tax credit received for the year ended 30 April 2023, which was not included within the figures in the previously filed financial statements.

Particulars   Restated
£
  Adjustment
£
  Previously Filed
£
Tax on profit on ordinary activities (38,860) (38,860)
Debtors 105,458  38,860  66,598 

3