Spectrum Dynamics Medical UK Limited Filleted Accounts Cover
Spectrum Dynamics Medical UK Limited
Audited accounts
Company No. 13894573
Information for Filing with The Registrar
31 December 2023
Spectrum Dynamics Medical UK Limited Directors Report Registrar
The Directors present their report and the accounts for the year ended 31 December 2023.
Principal activities
The principal activity of the company during the year under review was wholesale of medical machinery and equipment.
Auditors
The auditors, Gordon Levy Limited, are deemed to be reappointed under section 487(2) of the Companies Act 2006.
Directors
The Directors who served at any time during the year were as follows:
T. Gabay
G. Yoeli
Statement of directors' responsibilities
The Directors are responsible for preparing the Directors' report and the accounts in accordance with applicable law and regulations.
Company law requires the directors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts in accordance with united Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the directors are required to:
*
select suitable accounting policies and then apply them consistently;
*
make judgments and estimates that are reasonable and prudent;
*
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Statement of disclosure of information to auditor
So far as the directors are aware, there is no relevant audit information of which the company's auditors are unaware and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant information and to establish that the company's auditors are aware of that information.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
T. Gabay
Director
15 January 2025
Spectrum Dynamics Medical UK Limited Balance Sheet Registrar
at
31 December 2023
Company No.
13894573
Notes
2023
2022
£
£
Fixed assets
Tangible assets
4
2,912-
2,912-
Current assets
Stocks
5
1,602,3561,396,812
Debtors
6
283,586-
Cash at bank and in hand
1,763125,833
1,887,7051,522,645
Creditors: Amount falling due within one year
7
(1,866,149)
(1,519,888)
Net current assets
21,5562,757
Total assets less current liabilities
24,4682,757
Net assets
24,4682,757
Capital and reserves
Called up share capital
100100
Profit and loss account
8
24,3682,657
Total equity
24,4682,757
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 15 January 2025
And signed on its behalf by:
T. Gabay
15 January 2025
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 15 January 2025
And signed on its behalf by:
T. Gabay
Director
15 January 2025
Spectrum Dynamics Medical UK Limited Notes to the Accounts Registrar
for the year ended 31 December 2023
1
General information
Its registered number is: 13894573
Its registered office is:
30 Old Bailey
London
EC4M 7AU
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (January 2022) and the Companies Act 2006.
Going concern
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
2
Accounting policies
Turnover
Turnover comprises the invoice value of goods and services supplied by the company, exclusive of trade
discounts and value added tax.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Computer equipment:
3 years, straight line basis
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors including expectations of future events that are believed to be reasonable under the circumstances.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Foreign currencies
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
Defined contribution pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Defined benefit pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
00
4
Tangible fixed assets
Fixtures, fittings and equipment
Total
£
£
Cost or revaluation
Additions
3,1803,180
At 31 December 2023
3,1803,180
Depreciation
Charge for the year
268268
At 31 December 2023
268268
Net book values
At 31 December 2023
2,9122,912
5
Stocks
2023
2022
£
£
Finished goods
1,602,3561,396,812
1,602,3561,396,812
6
Debtors
2023
2022
£
£
Trade debtors
229,056-
Amounts owed by group undertakings
49,143-
Prepayments and accrued income
5,387-
283,586-
7
Creditors:
amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
1,635,767
1,453,439
Taxes and social security
62,561
36,443
Accruals and deferred income
167,82130,006
1,866,1491,519,888
8
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
9
Related party disclosures
Transactions with related parties
The company has taken advantage of the exemption according to FRS102 1A"Related party disclosure" not to disclose transactions entered in to between two or more members of a group that are wholly owned.
Parent Company
The name of the parent of the smallest group for which consolidated financial statements are drawn up of which this entity is a member:
Spectrum Dynamics Medical Group Limited
The parent's registered office address is:
PO BOX 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands
10
Audit of the accounts
The directors have required the company to obtain an audit.
Unqualified
The auditors were: Gordon Levy Limited
The senior statutory auditor was: Gordon Levy, BA, FCA
Spectrum Dynamics Medical UK Limited1389457331 December 202301 January 2023false15 January 2025BTCSoftware AP Solution 2024 11.2.0111.2.01For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.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.true138945732023-01-012023-12-31138945732023-12-31138945732022-12-3113894573core:WithinOneYear2023-12-3113894573core:WithinOneYear2022-12-3113894573core:ShareCapital2023-12-3113894573core:ShareCapital2022-12-3113894573core:RetainedEarningsAccumulatedLosses2023-12-3113894573core:RetainedEarningsAccumulatedLosses2022-12-3113894573bus:RegisteredOffice2023-01-012023-12-3113894573core:PlantMachinery2023-01-012023-12-31138945732022-02-042022-12-3113894573core:FurnitureFittingsToolsEquipment2023-01-012023-12-3113894573core:FurnitureFittingsToolsEquipment2023-12-3113894573core:RetainedEarningsAccumulatedLosses2023-01-012023-12-31138945732023-01-0113894573bus:SmallEntities2023-01-012023-12-3113894573bus:FullAccounts2023-01-012023-12-3113894573bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3113894573bus:Director12023-01-012023-12-3113894573bus:PrivateLimitedCompanyLtd2023-01-012023-12-31iso4217:GBPxbrli:pure