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Registered number: 11411496
Wyvern Medical Services Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Sharpe Medical Accounting Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11411496
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 28,353 35,134
Investments 5 187,956 30,456
216,309 65,590
CURRENT ASSETS
Debtors 6 61,600 23,819
Cash at bank and in hand 19,994 163,675
81,594 187,494
Creditors: Amounts Falling Due Within One Year 7 (49,340 ) (40,366 )
NET CURRENT ASSETS (LIABILITIES) 32,254 147,128
TOTAL ASSETS LESS CURRENT LIABILITIES 248,563 212,718
Creditors: Amounts Falling Due After More Than One Year 8 (27,287 ) (36,686 )
NET ASSETS 221,276 176,032
CAPITAL AND RESERVES
Called up share capital 9 50 50
Profit and Loss Account 221,226 175,982
SHAREHOLDERS' FUNDS 221,276 176,032
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Matthew Brown
Director
21/01/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Wyvern Medical Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11411496 . The registered office is Normanby Gateway, Lysaghts Way, Scunthorpe, North Lincolnshire, DN15 9YG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is recognised when a company gains entitlement to receive income from a third party.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 33% straight line
2.4. 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 statement of comprehensive income because of items of income or expense that are taxable or deductible in other year 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.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2023 5,480 54,094 12,395 71,969
Additions 5,863 - - 5,863
As at 31 March 2024 11,343 54,094 12,395 77,832
Depreciation
As at 1 April 2023 1,712 25,920 9,203 36,835
Provided during the period 2,408 7,044 3,192 12,644
As at 31 March 2024 4,120 32,964 12,395 49,479
Net Book Value
As at 31 March 2024 7,223 21,130 - 28,353
As at 1 April 2023 3,768 28,174 3,192 35,134
5. Investments
Unlisted
£
Cost
As at 1 April 2023 30,456
Additions 157,500
As at 31 March 2024 187,956
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 187,956
As at 1 April 2023 30,456
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6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 27,115 11,120
VAT 1,036 1,036
Director's loan account 33,449 11,663
61,600 23,819
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 46,790 35,729
Accruals and deferred income 2,550 4,637
49,340 40,366
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 27,287 36,686
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 50 50
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