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Registration number: 07197177

Desai Imaging Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Desai Imaging Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Desai Imaging Limited

Company Information

Directors

Dr S Desai

Mrs K Desai

Registered office

36 Acland Crescent
London
SE5 8EQ

Accountants

Affinity Associates (Flemmings) Limited
(Trading as Flemmings)
Chartered Accountants
76 Canterbury Road
Croydon
Surrey
CR0 3HA

 

Desai Imaging Limited

(Registration number: 07197177)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Intangible assets

4

 

54,300

 

63,350

Tangible assets

5

 

48,680

 

11,560

Investments

6

 

4,076

 

4,076

   

107,056

 

78,986

Current assets

   

 

Debtors

7

474,685

 

475,039

 

Cash at bank and in hand

 

605,720

 

531,343

 

 

1,080,405

 

1,006,382

 

Creditors: Amounts falling due within one year

8

(40,100)

 

(52,078)

 

Net current assets

   

1,040,305

 

954,304

Total assets less current liabilities

   

1,147,361

 

1,033,290

Provisions for liabilities

 

(12,901)

 

(3,063)

Net assets

   

1,134,460

 

1,030,227

Capital and reserves

   

 

Called up share capital

100

 

100

 

Profit and loss account

1,134,360

 

1,030,127

 

Total equity

   

1,134,460

 

1,030,227

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 29 January 2025 and signed on its behalf by:
 

.........................................

Dr S Desai
Director

 

Desai Imaging Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
36 Acland Crescent
London
SE5 8EQ
England

2

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

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

 

Desai Imaging Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

181,000

181,000

At 30 April 2024

181,000

181,000

Amortisation

At 1 May 2023

117,650

117,650

Amortisation charge

9,050

9,050

At 30 April 2024

126,700

126,700

Carrying amount

At 30 April 2024

54,300

54,300

At 30 April 2023

63,350

63,350

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

23,483

-

23,483

Additions

6,779

50,370

57,149

Disposals

(11,421)

-

(11,421)

At 30 April 2024

18,841

50,370

69,211

Depreciation

At 1 May 2023

11,923

-

11,923

Charge for the year

3,634

12,593

16,227

Eliminated on disposal

(7,619)

-

(7,619)

At 30 April 2024

7,938

12,593

20,531

Carrying amount

At 30 April 2024

10,903

37,777

48,680

At 30 April 2023

11,560

-

11,560

 

Desai Imaging Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Investments

2024
£

2023
£

Investments in subsidiaries

50

50

Other investments

4,026

4,026

4,076

4,076

Subsidiaries

£

Cost or valuation

At 1 May 2023

50

Carrying amount

At 30 April 2024

50

At 30 April 2023

50

Other investments

£

Cost

At 1 May 2023

4,026

Carrying amount

At 30 April 2024

4,026

At 30 April 2023

4,026

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

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

34,914

12,641

Amounts owed by related parties

9

357,376

357,003

Prepayment and accrued income

 

3,133

31,425

Other debtors

 

39,319

41,322

Directors current account

 

39,943

32,648

   

474,685

475,039

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

3,600

-

Corporation tax

 

31,248

51,926

Other taxes and social security

 

(174)

(133)

Other creditors

 

3,766

-

Accruals and deferred income

 

1,660

285

 

40,100

52,078

9

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

Radiology Reporting ( London) Limited
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.