Registered number
SC486208
RANA MEDICAL LIMITED
Filleted Accounts
30 September 2024
RANA MEDICAL LIMITED
Registered number: SC486208
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 5,866 6,518
Current assets
Debtors 4 45,000 45,000
Cash at bank and in hand 580,154 487,785
625,154 532,785
Creditors: amounts falling due within one year 5 (227,469) (155,177)
Net current assets 397,685 377,608
Total assets less current liabilities 403,551 384,126
Creditors: amounts falling due after more than one year 6 (528) (306)
Net assets 403,023 383,820
Capital and reserves
Called up share capital 100 100
Profit and loss account 402,923 383,720
Shareholder's funds 403,023 383,820
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Dr Harris Rana
Director
Approved by the board on 24 March 2025
RANA MEDICAL LIMITED
Notes to the Accounts
for the year ended 30 September 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 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:
Office equipment 10% Reducing Balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price).
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Office Equipment
£
Cost
At 1 October 2023 10,751
At 30 September 2024 10,751
Depreciation
At 1 October 2023 4,233
Charge for the year 652
At 30 September 2024 4,885
Net book value
At 30 September 2024 5,866
At 30 September 2023 6,518
4 Debtors 2024 2023
£ £
Other debtors 45,000 45,000
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 227,469 155,177
6 Creditors: amounts falling due after one year 2024 2023
£ £
Directors loan account 528 306
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