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COMPANY REGISTRATION NUMBER: 15028626
Wego Medical UK Limited
Filleted Unaudited Financial Statements
31 July 2024
Wego Medical UK Limited
Statement of Financial Position
31 July 2024
31 Jul 24
Note
£
Fixed assets
Tangible assets
5
800
Current assets
Debtors
6
7,392
Cash at bank and in hand
208,642
---------
216,034
Creditors: amounts falling due within one year
7
309,411
---------
Net current liabilities
93,377
--------
Total assets less current liabilities
( 92,577)
--------
Net liabilities
( 92,577)
--------
Capital and reserves
Called up share capital
950
Profit and loss account
( 93,527)
--------
Shareholders deficit
( 92,577)
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the period ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Wego Medical UK Limited
Statement of Financial Position (continued)
31 July 2024
These financial statements were approved by the board of directors and authorised for issue on 24 April 2025 , and are signed on behalf of the board by:
Mr DS Thakkar
Director
Company registration number: 15028626
Wego Medical UK Limited
Notes to the Financial Statements
Period from 25 July 2023 to 31 July 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Mill, 9 Soar Lane, Leicester, LE3 5DE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets measured at fair value through profit or loss.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 .
5. Tangible assets
Equipment
£
Cost
At 25 July 2023
Additions
1,067
-------
At 31 July 2024
1,067
-------
Depreciation
At 25 July 2023
Charge for the period
267
-------
At 31 July 2024
267
-------
Carrying amount
At 31 July 2024
800
-------
6. Debtors
31 Jul 24
£
Other debtors
7,392
-------
7. Creditors: amounts falling due within one year
31 Jul 24
£
Trade creditors
303
Amounts owed to group undertakings and undertakings in which the company has a participating interest
200,190
Social security and other taxes
6,540
Other creditors
102,378
---------
309,411
---------
8. Going concern
The companies liabilities exceed its assets by £92,577 as at the year end. The directors have stated that the company will continue to be supported by the parent company and therefore the company will continue on a going concern basis.
9. Related party transactions
The immediate parent company is Weigao Medical International Co., Ltd, a company incorporated in China. The registered office is No.1 Weigao Road, Hi Tech Zone, Weihai, Shandong, China. The ultimate parent company is Shandong Weigao Group Medical Polymer Company Limited, a company incorporated in China. The registered office is No.1 Weigao Road, Hi Tech Zone, Weihai, Shandong, China.