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Company Registration No. 13414448 (England and Wales)
NEWTECH MEDICAL INNOVATION LTD Unaudited accounts for the year ended 31 May 2024
NEWTECH MEDICAL INNOVATION LTD Unaudited accounts Contents
Page
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NEWTECH MEDICAL INNOVATION LTD Company Information for the year ended 31 May 2024
Directors
ODOMA, Gabriel Acheneje ALI, Salihu
Company Number
13414448 (England and Wales)
Registered Office
21 Snowberry Avenue Home Meadow Worcester Worcestershire WR4 0JA England
Accountants
Ease Accounting Associates UK Limited Chartered Accountants Base Point Dartford Business Park 54 Victoria Road DARTFORD Kent DA1 5FS
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of NEWTECH MEDICAL INNOVATION LTD for the year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of NEWTECH MEDICAL INNOVATION LTD for the year ended 31 May 2024 as set out on pages 5 - 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 icaew.com/membershandbook.
This report is made solely to the Board of Directors of NEWTECH MEDICAL INNOVATION LTD, as a body, in accordance with the terms of our engagement letter dated 1 June 2021. Our work has been undertaken solely to prepare for your approval the accounts of NEWTECH MEDICAL INNOVATION LTD and state those matters that we have agreed to state to the Board of Directors of NEWTECH MEDICAL INNOVATION LTD, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than NEWTECH MEDICAL INNOVATION LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that NEWTECH MEDICAL INNOVATION 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 NEWTECH MEDICAL INNOVATION LTD. You consider that NEWTECH MEDICAL INNOVATION 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 NEWTECH MEDICAL INNOVATION 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.
Ease Accounting Associates UK Limited Chartered Accountants Chartered Accountants Base Point Dartford Business Park 54 Victoria Road DARTFORD Kent DA1 5FS 17 February 2025
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NEWTECH MEDICAL INNOVATION LTD Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Current assets
Inventories
- 
20,521 
Debtors
4,500 
24,349 
Cash at bank and in hand
38,484 
16,660 
42,984 
61,530 
Creditors: amounts falling due within one year
(1,733)
(1,707)
Net current assets
41,251 
59,823 
Total assets less current liabilities
41,251 
59,823 
Creditors: amounts falling due after more than one year
(39,363)
(58,983)
Net assets
1,888 
840 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
1,788 
740 
Shareholders' funds
1,888 
840 
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 February 2025 and were signed on its behalf by
ALI, Salihu Director Company Registration No. 13414448
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NEWTECH MEDICAL INNOVATION LTD Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
NEWTECH MEDICAL INNOVATION LTD is a private company, limited by shares, registered in England and Wales, registration number 13414448. The registered office is 21 Snowberry Avenue, Home Meadow, Worcester, Worcestershire, WR4 0JA, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
1,808 
5 
Trade debtors
2,692 
24,344 
4,500 
24,349 
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NEWTECH MEDICAL INNOVATION LTD Notes to the Accounts for the year ended 31 May 2024
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
499 
933 
Taxes and social security
634 
174 
Accruals
600 
600 
1,733 
1,707 
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Loans from directors
39,363 
58,983 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
Average number of employees
During the year the average number of employees was 1 (2023: 0).
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