Registered number
09850611
Fusion Radiology Limited
Filleted Accounts
31 October 2024
Fusion Radiology Limited
Registered number: 09850611
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 58,350 36,938
Current assets
Debtors 4 37,450 15,645
Cash at bank and in hand 28,322 35,780
65,772 51,425
Creditors: amounts falling due within one year 5 (52,324) (36,189)
Net current assets 13,448 15,236
Total assets less current liabilities 71,798 52,174
Creditors: amounts falling due after more than one year 6 (34,074) (21,562)
Net assets 37,724 30,612
Capital and reserves
Called up share capital 100 100
Profit and loss account 37,624 30,512
Shareholders' funds 37,724 30,612
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Azizul Ambia
Director
Approved by the board on 10 February 2025
Fusion Radiology Limited
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance basis
Motor vehicles 20% reducing balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2023 31,901 29,850 61,751
Additions 36,000 - 36,000
At 31 October 2024 67,901 29,850 97,751
Depreciation
At 1 November 2023 18,843 5,970 24,813
Charge for the year 9,812 4,776 14,588
At 31 October 2024 28,655 10,746 39,401
Net book value
At 31 October 2024 39,246 19,104 58,350
At 31 October 2023 13,058 23,880 36,938
4 Debtors 2024 2023
£ £
Trade debtors 7,420 2,200
Other debtors 30,030 13,445
37,450 15,645
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,575 5,575
Obligations under finance lease and hire purchase contracts 10,651 3,153
Trade creditors 18,627 17,621
Taxation and social security costs 1,193 2,942
Other creditors 16,278 6,898
52,324 36,189
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 2,342 7,341
Obligations under finance lease and hire purchase contracts 31,732 14,221
34,074 21,562
7 Other information
Fusion Radiology Limited is a private company limited by shares and incorporated in England. Its registered office is:
70 Trent Road
Luton
Bedfordshire
LU3 1TA
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