Company registration number 12088774 (England and Wales)
SHAH MEDICALS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
SHAH MEDICALS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
SHAH MEDICALS LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
165,292
62,070
Current assets
Debtors
4
1,392
Cash at bank and in hand
116,209
117,340
117,601
117,340
Creditors: amounts falling due within one year
5
(23,099)
(18,533)
Net current assets
94,502
98,807
Total assets less current liabilities
259,794
160,877
Creditors: amounts falling due after more than one year
6
(74,728)
Provisions for liabilities
(31,448)
(3,527)
Net assets
153,618
157,350
Capital and reserves
Called up share capital
8
8
Profit and loss reserves
153,610
157,342
Total equity
153,618
157,350
SHAH MEDICALS LIMITED
BALANCE SHEET (CONTINUED)
- 2 -
For the financial year ended 31 July 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 of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 22 April 2025 and are signed on its behalf by:
Dr P P Shah
Director
Company registration number 12088774 (England and Wales)
SHAH MEDICALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
1
Accounting policies
Company information
Shah Medicals Limited is a private company limited by shares incorporated in England and Wales. The registered office is Hanford Health Centre, New Inn Lane, Trentham, Stoke-On-Trent, Staffordshire, ST4 8EX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
10% straight line
Plant and equipment
25% on reducing balance
Fixtures and fittings
25% on reducing balance
Computers
Straight line over 3 years
Motor vehicles
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
SHAH MEDICALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.5
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
SHAH MEDICALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 August 2023
49,374
8,944
10,606
9,859
78,783
Additions
1,565
4,264
117,228
123,057
Disposals
(3,381)
(3,381)
At 31 July 2024
49,374
8,944
12,171
10,742
117,228
198,459
Depreciation and impairment
At 1 August 2023
4,937
3,794
2,651
5,331
16,713
Depreciation charged in the year
4,937
1,288
2,086
3,075
7,327
18,713
Eliminated in respect of disposals
(2,259)
(2,259)
At 31 July 2024
9,874
5,082
4,737
6,147
7,327
33,167
Carrying amount
At 31 July 2024
39,500
3,862
7,434
4,595
109,901
165,292
At 31 July 2023
44,437
5,150
7,955
4,528
62,070
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
1,392
5
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
4,664
Other creditors
23,099
13,869
23,099
18,533
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
74,728