Registered number
02905701
DIAGENICS LIMITED
Filleted Accounts
31 May 2024
DIAGENICS LIMITED
Registered number: 02905701
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 23,255 21,888
Current assets
Stocks 48,764 124,020
Debtors 5 303,269 438,161
Cash at bank and in hand 17,797 57,141
369,830 619,322
Creditors: amounts falling due within one year 6 (134,330) (431,641)
Net current assets 235,500 187,681
Total assets less current liabilities 258,755 209,569
Provisions for liabilities (3,078) (3,078)
Net assets 255,677 206,491
Capital and reserves
Called up share capital 100 100
Profit and loss account 255,577 206,391
Shareholders' funds 255,677 206,491
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A Soni
Director
Approved by the board on 10 April 2025
DIAGENICS LIMITED
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 8
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2023 20,000
At 31 May 2024 20,000
Amortisation
At 1 June 2023 20,000
At 31 May 2024 20,000
Net book value
At 31 May 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 110,936
Additions 7,181
At 31 May 2024 118,117
Depreciation
At 1 June 2023 89,048
Charge for the year 5,814
At 31 May 2024 94,862
Net book value
At 31 May 2024 23,255
At 31 May 2023 21,888
5 Debtors 2024 2023
£ £
Trade debtors 137,269 265,229
Corporation tax recoverable - 6,932
Other debtors 166,000 166,000
303,269 438,161
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 50,992 39,531
Taxation and social security costs 62,187 48,569
Other creditors 21,151 343,541
134,330 431,641
7 Other information
DIAGENICS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Mandeville House
45-47 Tudor Road
Harrow
Middlesex
HA3 5PQ
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