Company registration number 05569105 (England and Wales)
HARLEY SURGICAL LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
HARLEY SURGICAL LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
HARLEY SURGICAL LTD
BALANCE SHEET
AS AT 31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
6,708
2,602
Current assets
Debtors
4
105,118
70,089
Cash at bank and in hand
4,293
7,673
109,411
77,762
Creditors: amounts falling due within one year
5
(105,072)
(61,917)
Net current assets
4,339
15,845
Total assets less current liabilities
11,047
18,447
Creditors: amounts falling due after more than one year
6
(7,650)
(17,643)
Provisions for liabilities
(1,677)
(560)
Net assets
1,720
244
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
720
(756)
Total equity
1,720
244
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
HARLEY SURGICAL LTD
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024
31 August 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 12 May 2025 and are signed on its behalf by:
Dr JR Joshi
Director
Company registration number 05569105 (England and Wales)
HARLEY SURGICAL LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
1
Accounting policies
Company information
Harley Surgical Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 24 Addison Way, Hampstead Garden Suburb, London, NW11 6AP.
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 £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
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:
Office equipment
25% on reducing balance
Fixtures and fittings
25% on reducing balance
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.
HARLEY SURGICAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 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.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.5
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
HARLEY SURGICAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
3
Tangible fixed assets
Office equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 September 2023
9,991
9,991
Additions
3,756
2,585
6,341
At 31 August 2024
13,747
2,585
16,332
Depreciation and impairment
At 1 September 2023
7,389
7,389
Depreciation charged in the year
1,589
646
2,235
At 31 August 2024
8,978
646
9,624
Carrying amount
At 31 August 2024
4,769
1,939
6,708
At 31 August 2023
2,602
2,602
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
13,471
13,826
Corporation tax recoverable
21,374
15,923
Other debtors
69,811
40,340
Prepayments and accrued income
462
105,118
70,089
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,005
10,010
Taxation and social security
92,501
49,546
Other creditors
2,566
2,361
105,072
61,917
HARLEY SURGICAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
7,650
17,643
7
Directors' transactions
Advances or credits have been granted by the company to its directors as follows:
The closing balance is the total loans taken by the directors and remained outstanding on the date of approval of these financial statements. Interest on the loans was charged at the official rate.
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Closing balance
£
£
£
£
Dr JR Joshi - Loans
2.25
36,640
28,499
972
66,111
36,640
28,499
972
66,111