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Registration number: 05062718

Scimed Consulting Limited

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2024

 

Scimed Consulting Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Scimed Consulting Limited

Company Information

Director

Mr G D W Martin

Registered office

41 Whitcomb Street
London
England
WC2H 7DT

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

Scimed Consulting Limited

(Registration number: 05062718)
Abridged Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

-

Current assets

 

Debtors

264,714

231,669

Cash at bank and in hand

 

-

19,533

 

264,714

251,202

Creditors: Amounts falling due within one year

(57,773)

(30,330)

Net current assets

 

206,941

220,872

Total assets less current liabilities

 

206,941

220,872

Accruals and deferred income

 

(1,100)

(1,100)

Net assets

 

205,841

219,772

Capital and reserves

 

Called up share capital

5

613

613

Capital redemption reserve

387

387

Retained earnings

204,841

218,772

Shareholders' funds

 

205,841

219,772

 

Scimed Consulting Limited

(Registration number: 05062718)
Abridged Balance Sheet as at 31 December 2024

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 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 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 14 March 2025
 

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

Mr G D W Martin
Director

 

Scimed Consulting Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
41 Whitcomb Street
London
England
WC2H 7DT

These financial statements were authorised for issue by the director on 14 March 2025.

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 abridged 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 abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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:

 

Scimed Consulting Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

Asset class

Amortisation method and rate

Goodwill

over 5 years

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

 

Scimed Consulting Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Intangible assets

Total
£

Cost or valuation

At 1 January 2024

4,525

At 31 December 2024

4,525

Amortisation

At 1 January 2024

4,525

At 31 December 2024

4,525

Carrying amount

At 31 December 2024

-

5

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

613

613

613

613

         

6

Related party transactions

Summary of transactions with parent

During the year the company made unsecured, interest free, repayable on demand loans to the parent totalling £3,680. At the balance sheet date the amount owed from the parent was £209,713 (2023 - £206,033)
 

 

Scimed Consulting Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

Summary of transactions with other related parties

During the year the company made unsecured, interest free, repayable on demand loans to other related parties totalling £33,300. At the balance sheet date the amount owed from other related parties was £48,300 (2023 - £15,000).