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REGISTERED NUMBER: 09731047 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st August 2024

for

Adept Surgical Ltd

Adept Surgical Ltd (Registered number: 09731047)






Contents of the Financial Statements
for the Year Ended 31st August 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Adept Surgical Ltd (Registered number: 09731047)

Balance Sheet
31st August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 40,235 48,130

CURRENT ASSETS
Cash at bank 20,218 1,255

CREDITORS
Amounts falling due within one year 5 13,658 8,472
NET CURRENT ASSETS/(LIABILITIES) 6,560 (7,217 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

46,795

40,913

CREDITORS
Amounts falling due after more than one year 6 (543 ) (6,691 )

PROVISIONS FOR LIABILITIES (7,644 ) (9,145 )
NET ASSETS 38,608 25,077

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 38,508 24,977
SHAREHOLDERS' FUNDS 38,608 25,077

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20th May 2025 and were signed by:





Dr M Singh - Director


Adept Surgical Ltd (Registered number: 09731047)

Notes to the Financial Statements
for the Year Ended 31st August 2024

1. COMPANY INFORMATION

Adept Surgical Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09731047

Registered office: The Lexicon
Mount Street
Manchester
M2 5NT

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the provision of professional services is recognised on delivery of the service.

Tangible fixed assets
Tangible Fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment loss.

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 basis:

Fixtures and Fittings - 25% on cost

Motor Vehicles - 20% 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 the profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Adept Surgical Ltd (Registered number: 09731047)

Notes to the Financial Statements - continued
for the Year Ended 31st August 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1st September 2023 9,946 58,190 68,136
Additions 2,857 - 2,857
At 31st August 2024 12,803 58,190 70,993
DEPRECIATION
At 1st September 2023 8,368 11,638 20,006
Charge for year 1,442 9,310 10,752
At 31st August 2024 9,810 20,948 30,758
NET BOOK VALUE
At 31st August 2024 2,993 37,242 40,235
At 31st August 2023 1,578 46,552 48,130

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st September 2023
and 31st August 2024 58,190
DEPRECIATION
At 1st September 2023
and 31st August 2024 11,638
NET BOOK VALUE
At 31st August 2024 46,552
At 31st August 2023 46,552

Adept Surgical Ltd (Registered number: 09731047)

Notes to the Financial Statements - continued
for the Year Ended 31st August 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts 6,063 5,979
Trade creditors 4 -
Tax 4,791 637
Social security and other taxes 778 -
Other creditors 1,008 -
Directors' current accounts 193 1,262
Accrued expenses 821 594
13,658 8,472

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts 543 6,691

The net obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
100 A Ordinary Shares £1 100 100

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st August 2024 and 31st August 2023:

31.8.24 31.8.23
£    £   
Dr M Singh
Balance outstanding at start of year (1,262 ) (561 )
Amounts advanced 4,925 9,931
Amounts repaid (3,856 ) (10,632 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (193 ) (1,262 )

The loan is payable on demand and no interest was charged during the year.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Dr M Singh.