Registration number:
Medical Innovations London Ltd
for the Year Ended 30 June 2024
Medical Innovations London Ltd
Contents
Company Information |
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Director's Report |
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Profit and Loss Account and Statement of Retained Earnings |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
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iXBRL Detailed Profit and Loss Account |
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Accountants' Report |
Medical Innovations London Ltd
Company Information
Director |
Ciaran Ali Chand Wazir |
Registered office |
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Accountants |
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Medical Innovations London Ltd
Director's Report for the Year Ended 30 June 2024
The director presents his report and the financial statements for the year ended 30 June 2024.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is the promotion of pain management and neuromodulation medical specialities by convening educational meetings in the United Kingdom and Europe
Small companies provision statement
This report has 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.
Approved and authorised by the
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Medical Innovations London Ltd
Profit and Loss Account and Statement of Retained Earnings for the Year Ended 30 June 2024
Note |
2024 |
2023 |
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Turnover |
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Administrative expenses |
( |
( |
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Operating profit |
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Profit before tax |
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Taxation |
( |
- |
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Profit for the financial year |
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Retained earnings brought forward |
9,077 |
4,058 |
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Retained earnings carried forward |
12,995 |
9,076 |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Medical Innovations London Ltd
(Registration number: 09233689)
Balance Sheet as at 30 June 2024
Note |
2024 |
2023 |
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Current assets |
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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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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his 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.
Approved and authorised by the
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Medical Innovations London Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 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
The principal place of business is:
Finch Hill
Langham Road
Robertsbridge
East Sussex
TN32 5DT
United Kingdom
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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
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 presentation currency of the financial statements is the Pound Sterling (£).
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Medical Innovations London Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
Tax
The tax expense for the period comprises current 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Debtors |
2024 |
2023 |
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- |
- |
Medical Innovations London Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Taxation and social security |
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- |
Accruals and deferred income |
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Other creditors |
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Medical Innovations London Ltd
iXBRL Detailed Profit and Loss Account for the Year Ended 30 June 2024
2024 |
2023 |
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Turnover/revenue |
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Cost of sales |
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Opening stock/inventories |
- |
- |
Closing stock/inventories |
- |
- |
Gross profit |
77,326 |
61,966 |
Distribution costs |
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Administrative expenses |
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Audit and accountancy other services |
( |
( |
Subcontractor costs |
( |
( |
Travel and subsistence |
( |
( |
Bank charges |
( |
( |
Printing, postage and stationery |
( |
( |
Subscriptions |
( |
( |
Other operational and administration costs |
( |
( |
Other operating income |
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Other items |
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Operating profit |
5,318 |
5,018 |
Foreign exchange loss included in non-operating income |
( |
- |
Profit on ordinary activities before taxation |
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Tax on profit or loss on ordinary activities |
( |
- |
Profit for the financial year |
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Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Medical Innovations London Ltd
for the Year Ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Medical Innovations London Ltd for the year ended 30 June 2024 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Medical Innovations London Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Medical Innovations London Ltd and state those matters that we have agreed to state to the Board of Directors of Medical Innovations London Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Medical Innovations London Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Medical Innovations London Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Medical Innovations London Ltd. You consider that Medical Innovations London Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Medical Innovations London Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Battle
East Sussex
TN33 0EE
Date:.............................