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Company registration number: SC425945
Sarah Diagnostics Limited
Unaudited filleted financial statements
30 June 2024
Sarah Diagnostics Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Sarah Diagnostics Limited
Directors and other information
Directors Suhail Ahmad Khan
Sarah Khan
Mallaika Suhail Khan
Saif Ahmad Khan
Company number SC425945
Registered office 16 Lapwing Avenue
Lenzie
Glasgow
G66 3DJ
Accountants Dickson Middleton
20 Barnton Street
Stirling
FK8 1NE
Sarah Diagnostics Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Sarah Diagnostics Limited
Year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sarah Diagnostics Limited for the year ended 30 June 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.
This report is made solely to the board of directors of Sarah Diagnostics Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Sarah Diagnostics Limited and state those matters that we have agreed to state to the board of directors of Sarah Diagnostics Limited as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sarah Diagnostics Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Sarah Diagnostics Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sarah Diagnostics Limited. You consider that Sarah Diagnostics Limited 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 financial statements of Sarah Diagnostics Limited. 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 financial statements.
Dickson Middleton
Chartered Accountants
20 Barnton Street
Stirling
FK8 1NE
29 April 2025
Sarah Diagnostics Limited
Statement of financial position
30 June 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 96,900 92,804
_______ _______
96,900 92,804
Current assets
Debtors 6 384,741 383,441
Cash at bank and in hand 146,873 7,651
_______ _______
531,614 391,092
Creditors: amounts falling due
within one year 7 ( 123,346) ( 105,612)
_______ _______
Net current assets 408,268 285,480
_______ _______
Total assets less current liabilities 505,168 378,284
Provisions for liabilities ( 2,101) ( 4,827)
_______ _______
Net assets 503,067 373,457
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 502,967 373,357
_______ _______
Shareholders funds 503,067 373,457
_______ _______
For the year ending 30 June 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 year 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.
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.
These financial statements were approved by the board of directors and authorised for issue on 29 April 2025 , and are signed on behalf of the board by:
Suhail Ahmad Khan
Director
Company registration number: SC425945
Sarah Diagnostics Limited
Notes to the financial statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Sarah Diagnostics Limited, 16 Lapwing Avenue, Lenzie, Glasgow, G66 3DJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the Company, rounded to the nearest £.
Turnover
Turnover represents the total invoice value of sales made during the year and derives from the provision of services falling within the company's ordinary activities.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Fittings fixtures and equipment - 20 % reducing balance
Motor vehicles - 25 % reducing balance
Computers - 33.3 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
Financial assets and liabilities are recognised when the Company becomes party to the contractual provisions of the financial instrument. The Company holds basic financial instruments, which comprise cash and cash equivalents, trade and other debtors, trade and other creditors.Basic financial instruments are recorded at transaction value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Tangible assets
Freehold property Fixtures, fittings and equipment Motor vehicles Computer Total
£ £ £ £ £
Cost
At 1 July 2023 - 6,668 119,085 5,479 131,232
Additions 31,425 - - 3,077 34,502
_______ _______ _______ _______ _______
At 30 June 2024 31,425 6,668 119,085 8,556 165,734
_______ _______ _______ _______ _______
Depreciation
At 1 July 2023 - 4,555 28,394 5,479 38,428
Charge for the year 6,285 422 22,673 1,026 30,406
_______ _______ _______ _______ _______
At 30 June 2024 6,285 4,977 51,067 6,505 68,834
_______ _______ _______ _______ _______
Carrying amount
At 30 June 2024 25,140 1,691 68,018 2,051 96,900
_______ _______ _______ _______ _______
At 30 June 2023 - 2,113 90,691 - 92,804
_______ _______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 62,741 61,441
Other debtors 322,000 322,000
_______ _______
384,741 383,441
_______ _______
Other debtors include balances owed by Sarah Real Estate Limited which is controlled by a close family member. This debtor is carried at terms favourable to the market rate.
7. Creditors: amounts falling due within one year
2024 2023
£ £
Corporation tax 66,067 49,102
Social security and other taxes 523 513
Other creditors 56,756 55,997
_______ _______
123,346 105,612
_______ _______
8. Controlling party
The directors are considered to be the ultimate controlling party.