IRIS Accounts Production v24.2.0.383 12400496 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh124004962023-03-31124004962024-03-31124004962023-04-012024-03-31124004962022-03-31124004962022-04-012023-03-31124004962023-03-3112400496ns15:EnglandWales2023-04-012024-03-3112400496ns14:PoundSterling2023-04-012024-03-3112400496ns10:Director12023-04-012024-03-3112400496ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3112400496ns10:SmallEntities2023-04-012024-03-3112400496ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3112400496ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3112400496ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3112400496ns10:FullAccounts2023-04-012024-03-3112400496ns10:OrdinaryShareClass12023-04-012024-03-3112400496ns10:Director22023-04-012024-03-3112400496ns10:RegisteredOffice2023-04-012024-03-3112400496ns5:CurrentFinancialInstruments2024-03-3112400496ns5:CurrentFinancialInstruments2023-03-3112400496ns5:ShareCapital2024-03-3112400496ns5:ShareCapital2023-03-3112400496ns5:RetainedEarningsAccumulatedLosses2024-03-3112400496ns5:RetainedEarningsAccumulatedLosses2023-03-3112400496ns5:LongLeaseholdAssetsns5:LandBuildings2023-04-012024-03-3112400496ns5:LongLeaseholdAssetsns5:LandBuildings2023-03-3112400496ns5:FurnitureFittings2023-03-3112400496ns5:FurnitureFittings2023-04-012024-03-3112400496ns5:LongLeaseholdAssetsns5:LandBuildings2024-03-3112400496ns5:FurnitureFittings2024-03-3112400496ns5:LongLeaseholdAssetsns5:LandBuildings2023-03-3112400496ns5:FurnitureFittings2023-03-3112400496ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3112400496ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3112400496ns5:CurrentFinancialInstruments2023-04-012024-03-3112400496ns5:DeferredTaxation2023-03-3112400496ns5:DeferredTaxation2024-03-3112400496ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 12400496 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Priors Medical (Knightsbridge) Limited

Priors Medical (Knightsbridge) Limited (Registered number: 12400496)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Priors Medical (Knightsbridge) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: M Somji
Mrs H Somji





REGISTERED OFFICE: Bank House
27 King Street
Leeds
LS1 2HL





REGISTERED NUMBER: 12400496 (England and Wales)





ACCOUNTANTS: DWilkinson&Company
Bank House
27 King Street
Leeds
West Yorkshire
LS1 2HL

Priors Medical (Knightsbridge) Limited (Registered number: 12400496)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 479,706 530,178

CURRENT ASSETS
Stocks 46,782 37,950
Debtors 5 39,544 81,508
Cash at bank and in hand 199,024 1
285,350 119,459
CREDITORS
Amounts falling due within one year 6 843,000 840,760
NET CURRENT LIABILITIES (557,650 ) (721,301 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(77,944

)

(191,123

)

PROVISIONS FOR LIABILITIES 7 91,144 92,624
NET LIABILITIES (169,088 ) (283,747 )

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings (169,089 ) (283,748 )
SHAREHOLDERS' FUNDS (169,088 ) (283,747 )

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

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

Priors Medical (Knightsbridge) Limited (Registered number: 12400496)

Balance Sheet - continued
31 March 2024


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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 December 2024 and were signed on its behalf by:





M Somji - Director


Priors Medical (Knightsbridge) Limited (Registered number: 12400496)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Priors Medical (Knightsbridge) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 year 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Priors Medical (Knightsbridge) Limited (Registered number: 12400496)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Long and
leasehold fittings Totals
£    £    £   
COST
At 1 April 2023 59,079 568,175 627,254
Additions - 25,200 25,200
Disposals - (50,000 ) (50,000 )
At 31 March 2024 59,079 543,375 602,454
DEPRECIATION
At 1 April 2023 16,395 80,681 97,076
Charge for year 6,403 49,269 55,672
Eliminated on disposal - (30,000 ) (30,000 )
At 31 March 2024 22,798 99,950 122,748
NET BOOK VALUE
At 31 March 2024 36,281 443,425 479,706
At 31 March 2023 42,684 487,494 530,178

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors - 8,051
Prepayments 39,544 73,457
39,544 81,508

Priors Medical (Knightsbridge) Limited (Registered number: 12400496)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts - 7,317
Trade creditors 134,823 157,657
Social security and other taxes 3,480 7,420
Other creditors 697,051 662,052
Accrued expenses 7,646 6,314
843,000 840,760

The directors loan account is interest free and repayable on demand.

7. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 91,144 92,624

Deferred
tax
£   
Balance at 1 April 2023 92,624
Balance at 31 March 2024 92,624

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
1 Share capital 1 1 1 1

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.