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Registered number: 06827849










INIYA MEDICAL SERVICES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 NOVEMBER 2024

 
INIYA MEDICAL SERVICES LIMITED
REGISTERED NUMBER: 06827849

BALANCE SHEET
AS AT 30 NOVEMBER 2024

30 November
29 February
2024
2024
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
158,032

  
-
158,032

Current assets
  

Debtors: amounts falling due within one year
 5 
192
-

Cash at bank and in hand
 6 
273,566
812,268

  
273,758
812,268

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(15,940)
(63,072)

Net current assets
  
 
 
257,818
 
 
749,196

Total assets less current liabilities
  
257,818
907,228

  

Net assets
  
257,818
907,228


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
257,718
907,128

  
257,818
907,228


Page 1

 
INIYA MEDICAL SERVICES LIMITED
REGISTERED NUMBER: 06827849

BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2024

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




R Natesan
Director
Date: 6 April 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
INIYA MEDICAL SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2024

1.


General information

Iniya Medical Services Limited is a private company limited by shares and incorporated in England and Wales. The Company's registered office is: C/O James Cowper Kreston, 8th Floor South, Reading Bridge House, George Street, Reading, Berkshire, RG1 8LS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

  
2.2

Reporting period

The Company’s year end has been shortened from 28 February 2025 to 30 November 2024. The reporting period for these accounts therefore is for a 9 month period only whereas the comparative period is for a whole year.

 
2.3

Going concern

These financial statements have not been prepared on the going concern basis as the Directors have indicated their intention to strike off the company within 12 months from the balance sheet date as the Company ceased trading on 30 November 2024.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

Page 3

 
INIYA MEDICAL SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the policies laid out below.

Depreciation is provided on the following basis:

Freehold property
-
none
Fixtures and fittings
-
15% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
INIYA MEDICAL SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the period was 2 (29 February 2024 - 2).

Page 5

 
INIYA MEDICAL SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2024

4.


Tangible fixed assets







Freehold property
Fixtures and fittings
Total

£
£
£





At 1 March 2024
157,753
8,572
166,325


Disposals
(157,753)
(8,572)
(166,325)



At 30 November 2024

-
-
-





At 1 March 2024
-
8,293
8,293


Disposals
-
(8,293)
(8,293)



At 30 November 2024

-
-
-



Net book value



At 30 November 2024
-
-
-



At 29 February 2024
157,753
279
158,032


5.


Debtors

30 November
29 February
2024
2024
£
£


Other debtors
192
-



6.


Cash and cash equivalents

30 November
29 February
2024
2024
£
£

Cash at bank and in hand
273,566
812,268


Page 6

 
INIYA MEDICAL SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2024

7.


Creditors: Amounts falling due within one year

30 November
29 February
2024
2024
£
£

Corporation tax
8,817
28,865

Other creditors
1,723
31,607

Accruals and deferred income
5,400
2,600

15,940
63,072



8.


Share capital

30 November
29 February
2024
2024
£
£
Allotted, called up and fully paid



100 (29 February 2024 - 100) Ordinary shares of £1.00 each
100
100



9.


Related party transactions

As at the report date the Company owed the directors £1,723 (29 February 2024 - £31,607). These amounts were interest free, without security and repayable on demand.
Dividends totalling £680,000 (29 February 2024 - £NIL) was paid to the directors during the period.


Page 7