IRIS Accounts Production v25.1.0.734 06470120 director 1.10.23 30.9.24 30.9.24 false true false false false true false Ordinary A 1.00000 Ordinary B 1.00000 Ordinary C 1.00000 Ordinary D 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh064701202023-09-30064701202024-09-30064701202023-10-012024-09-30064701202022-09-30064701202022-10-012023-09-30064701202023-09-3006470120ns15:EnglandWales2023-10-012024-09-3006470120ns14:PoundSterling2023-10-012024-09-3006470120ns10:Director12023-10-012024-09-3006470120ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3006470120ns10:SmallEntities2023-10-012024-09-3006470120ns10:AuditExempt-NoAccountantsReport2023-10-012024-09-3006470120ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-3006470120ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-3006470120ns10:FullAccounts2023-10-012024-09-300647012012023-10-012024-09-3006470120ns10:OrdinaryShareClass12023-10-012024-09-3006470120ns10:OrdinaryShareClass22023-10-012024-09-3006470120ns10:OrdinaryShareClass32023-10-012024-09-3006470120ns10:OrdinaryShareClass42023-10-012024-09-3006470120ns5:CurrentFinancialInstruments2024-09-3006470120ns5:CurrentFinancialInstruments2023-09-3006470120ns5:ShareCapital2024-09-3006470120ns5:ShareCapital2023-09-3006470120ns5:RetainedEarningsAccumulatedLosses2024-09-3006470120ns5:RetainedEarningsAccumulatedLosses2023-09-3006470120ns10:RegisteredOffice2023-10-012024-09-3006470120ns5:NetGoodwill2023-10-012024-09-3006470120ns5:IntangibleAssetsOtherThanGoodwill2023-10-012024-09-3006470120ns5:NetGoodwill2023-09-3006470120ns5:NetGoodwill2024-09-3006470120ns5:NetGoodwill2023-09-3006470120ns5:FurnitureFittings2023-09-3006470120ns5:MotorVehicles2023-09-3006470120ns5:FurnitureFittings2023-10-012024-09-3006470120ns5:MotorVehicles2023-10-012024-09-3006470120ns5:FurnitureFittings2024-09-3006470120ns5:MotorVehicles2024-09-3006470120ns5:FurnitureFittings2023-09-3006470120ns5:MotorVehicles2023-09-3006470120ns10:OrdinaryShareClass12024-09-3006470120ns10:OrdinaryShareClass22024-09-3006470120ns10:OrdinaryShareClass32024-09-3006470120ns10:OrdinaryShareClass42024-09-30064701201ns10:Director12023-09-30064701201ns10:Director12022-09-30064701201ns10:Director12023-10-012024-09-30064701201ns10:Director12022-10-012023-09-30064701201ns10:Director12024-09-30064701201ns10:Director12023-09-30
REGISTERED NUMBER: 06470120 (England and Wales)















Unaudited Financial Statements for the Year Ended 30th September 2024

for

Palan Medical Services Ltd

Palan Medical Services Ltd (Registered number: 06470120)






Contents of the Financial Statements
for the Year Ended 30th September 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Palan Medical Services Ltd (Registered number: 06470120)

Balance Sheet
30th September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 66,942 78,099
Tangible assets 5 25,119 28,545
92,061 106,644

CURRENT ASSETS
Debtors 6 50,275 36,462
Cash at bank 1,810,300 1,737,116
1,860,575 1,773,578
CREDITORS
Amounts falling due within one year 7 114,798 107,691
NET CURRENT ASSETS 1,745,777 1,665,887
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,837,838

1,772,531

PROVISIONS FOR LIABILITIES 4,773 5,489
NET ASSETS 1,833,065 1,767,042

CAPITAL AND RESERVES
Called up share capital 8 81 81
Retained earnings 1,832,984 1,766,961
SHAREHOLDERS' FUNDS 1,833,065 1,767,042

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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 2nd June 2025 and were signed by:



Dr V Nandapalan - Director


Palan Medical Services Ltd (Registered number: 06470120)

Notes to the Financial Statements
for the Year Ended 30th September 2024

1. COMPANY INFORMATION

Palan Medical Services 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: 06470120

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.

Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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:

Equipment - 25% Straight Line

Motor Vehicles - 20% Straight Line

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 profit or loss.


Palan Medical Services Ltd (Registered number: 06470120)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2024

2. ACCOUNTING POLICIES - continued
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.

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. INTANGIBLE FIXED ASSETS
Franchise
costs
£   
COST
At 1st October 2023
and 30th September 2024 223,145
AMORTISATION
At 1st October 2023 145,046
Amortisation for year 11,157
At 30th September 2024 156,203
NET BOOK VALUE
At 30th September 2024 66,942
At 30th September 2023 78,099

Palan Medical Services Ltd (Registered number: 06470120)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1st October 2023 14,024 32,122 46,146
Additions 4,955 - 4,955
Disposals (1,308 ) - (1,308 )
At 30th September 2024 17,671 32,122 49,793
DEPRECIATION
At 1st October 2023 10,614 6,987 17,601
Charge for year 1,957 6,424 8,381
Eliminated on disposal (1,308 ) - (1,308 )
At 30th September 2024 11,263 13,411 24,674
NET BOOK VALUE
At 30th September 2024 6,408 18,711 25,119
At 30th September 2023 3,410 25,135 28,545

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 50,275 36,462

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Tax 24,723 41,157
Directors' current accounts 87,432 63,058
Accrued expenses 2,643 3,476
114,798 107,691

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
60 Ordinary A £1 60 60
19 Ordinary B £1 19 19
1 Ordinary C £1 1 1
1 Ordinary D £1 1 1
81 81

Palan Medical Services Ltd (Registered number: 06470120)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2024

8. CALLED UP SHARE CAPITAL - continued

Ordinary A Shares confer on the holders the right to vote upon any resolution proposed at any general meeting of the company.

Ordinary B Shares do not confer on the holders the right to vote upon any resolution proposed at any general meeting of the company.

Ordinary C Shares and Ordinary D Shares have no voting or distribution rights. Each share has a right to dividends at the discretion of the A and B shareholders.

The A and B shares rank pari passu for all dividend rights.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30th September 2024 and 30th September 2023:

30.9.24 30.9.23
£    £   
Dr V Nandapalan
Balance outstanding at start of year (63,057 ) (29,788 )
Amounts advanced 9,471 8,701
Amounts repaid (33,845 ) (41,970 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (87,431 ) (63,057 )

This loan is repayable on demand and no interest was charged on this amount.

10. CONTROLLING PARTY

The controlling party is Dr V Nandapalan.