Registration number:
Desai Imaging Limited
for the Year Ended 30 April 2024
Desai Imaging Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Desai Imaging Limited
Company Information
Directors |
Dr S Desai Mrs K Desai |
Registered office |
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Accountants |
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Desai Imaging Limited
(Registration number: 07197177)
Balance Sheet as at 30 April 2024
Note |
2024 |
2023 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 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:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
.........................................
Director
Desai Imaging Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in Pound Sterling, which is the functional currency of the company.
Exemption from preparing group accounts
Revenue recognition
The turnover shown in profit and loss represents amounts invoiced during the period.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Desai Imaging Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures, Fittings & Equipment |
25% Reducing Balance Method |
Motor Vehicles |
25% Straight line method |
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
Over 20 years |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Defined contribution pension obligation
The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Desai Imaging Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 May 2023 |
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At 30 April 2024 |
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Amortisation |
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At 1 May 2023 |
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Amortisation charge |
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At 30 April 2024 |
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Carrying amount |
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At 30 April 2024 |
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At 30 April 2023 |
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Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 May 2023 |
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Additions |
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Disposals |
( |
- |
( |
At 30 April 2024 |
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Depreciation |
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At 1 May 2023 |
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- |
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Charge for the year |
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Eliminated on disposal |
( |
- |
( |
At 30 April 2024 |
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Carrying amount |
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At 30 April 2024 |
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At 30 April 2023 |
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- |
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Desai Imaging Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Investments |
2024 |
2023 |
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Investments in subsidiaries |
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Other investments |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 May 2023 |
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Carrying amount |
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At 30 April 2024 |
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At 30 April 2023 |
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Other investments |
£ |
Cost |
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At 1 May 2023 |
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Carrying amount |
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At 30 April 2024 |
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At 30 April 2023 |
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The company is a member of ASI London E Clinician LLP and ASI London G Clinician LLP. The above investment represents the company’s interest in both these LLP's
Debtors |
Current |
Note |
2024 |
2023 |
Trade debtors |
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Amounts owed by related parties |
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Prepayment and accrued income |
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Other debtors |
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Directors current account |
39,943 |
32,648 |
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Details of non-current trade and other debtors
£15,813 (2023 -£20,339) of Other debtors is classified as non current. This relates to loans of £5,493 provided to ASI London E Clinician LLP and £10,320 provided to ASI London G Clinician LLP. The company is a member of the two LLP’s. Interest is receivable on both loans.
Desai Imaging Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Trade creditors |
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- |
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Corporation tax |
31,248 |
51,926 |
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Other taxes and social security |
( |
( |
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Other creditors |
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- |
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Accruals and deferred income |
1,660 |
285 |
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Related party transactions |
Other transactions with directors |
Dr S Desai and Mrs K Desai
(Directors and Shareholders)
During the year dividends totalling £3,000 were paid to the directors (2023: £15,000)
At the balance sheet date the amount due (from)/to Dr S Desai and Mrs K Desai was (£39,943) (2023: £32,648)
Interest at the HMRC official rate of interest has been paid to the company by the directors on the running balance owed by the directors to the company.
Summary of transactions with subsidiaries
50% subsidiary undertaking
At the balance sheet date the amount due from Radiology Reporting (London) Limited was £357,376 (2023: £357,003). The loan is interest free and repayable on demand.