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Registered number:  07855106














GHOSH MEDICAL LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


 
GHOSH MEDICAL LIMITED
REGISTERED NUMBER: 07855106

BALANCE SHEET
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 4 
89,606
161,174

  
89,606
161,174

Current assets
  

Debtors: amounts falling due within one year
 5 
443,435
367,864

Cash at bank and in hand
 6 
62,446
120,497

  
505,881
488,361

Creditors: amounts falling due within one year
 7 
(155,519)
(150,049)

Net current assets
  
 
 
350,362
 
 
338,312

Total assets less current liabilities
  
439,968
499,486

Creditors: amounts falling due after more than one year
 8 
(3,959)
(13,669)

Provisions for liabilities
  

Deferred tax
 10 
(8,325)
(21,688)

  
 
 
(8,325)
 
 
(21,688)

Net assets
  
427,684
464,129

Page 1

 
GHOSH MEDICAL LIMITED
REGISTERED NUMBER: 07855106
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
427,584
464,029

  
427,684
464,129


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Dr A K Ghosh
Director

Date: 5 June 2025

The notes on pages 3 to 10 form part of these financial statements.
Page 2

 
GHOSH MEDICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

Ghosh Medical is a limited liability company with share capital registered in England & Wales under company number 07855106. The registered office is at Ghosh Medical Group, Rodney Street, Liverpool L1 9ED. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
GHOSH MEDICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
GHOSH MEDICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
20%
Medical equipment
-
20%
Fixtures and fittings
-
20%
Office equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
GHOSH MEDICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2024 - 11).

Page 6

 
GHOSH MEDICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

4.


Tangible fixed assets





Short-term leasehold property
Medical Equipment
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2024
311,184
45,929
10,769
31,158
399,040


Additions
1,074
1,263
-
1,470
3,807



At 31 March 2025

312,258
47,192
10,769
32,628
402,847



Depreciation


At 1 April 2024
176,531
27,476
7,619
26,239
237,865


Charge for the year on owned assets
62,291
7,961
1,916
3,208
75,376



At 31 March 2025

238,822
35,437
9,535
29,447
313,241



Net book value



At 31 March 2025
73,436
11,755
1,234
3,181
89,606



At 31 March 2024
134,652
18,453
3,150
4,919
161,174

Page 7

 
GHOSH MEDICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

5.


Debtors

2025
2024
£
£


Trade debtors
112,301
9,246

Other debtors
323,983
312,507

Prepayments and accrued income
7,151
46,111

443,435
367,864



6.


Cash and cash equivalents

2025
2024
£
£

Cash at bank and in hand
62,446
120,497

Less: bank overdrafts
(36,138)
(10,680)

26,308
109,817



7.


Creditors: Amounts falling due within one year

2025
2024
£
£

Bank overdrafts
36,138
10,680

Bank loans
9,521
10,045

Trade creditors
74,093
119,155

Corporation tax
30,141
-

Other taxation and social security
-
4,990

Other creditors
1,126
679

Accruals and deferred income
4,500
4,500

155,519
150,049



8.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Bank loans
3,959
13,669

3,959
13,669


Page 8

 
GHOSH MEDICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

9.


Loans


Analysis of the maturity of loans is given below:


2025
2024
£
£

Amounts falling due within one year

Bank loans
9,521
10,045

Amounts falling due 1-2 years

Bank loans
3,959
9,709

Amounts falling due 2-5 years

Bank loans
-
3,959


13,480
23,713



10.


Deferred taxation




2025


£






At beginning of year
(21,688)


Charged to profit or loss
13,363



At end of year
(8,325)

The provision for deferred taxation is made up as follows:

2025
2024
£
£


Accelerated capital allowances
(8,417)
(23,698)

Tax losses carried forward
-
1,873

Short term timing differences
92
137

(8,325)
(21,688)


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £39,702 (2024 - £42,608). Contributions totalling £1,125 (2024 - £680) were owed to the fund at the balance sheet date and are included in other creditors.

Page 9

 
GHOSH MEDICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

12.


Related party transactions

The company has the following transactions with related parties:
Loan to the directors: £65,677 (2024 - £56,945 owed to the company)
Loans to companies under common control: £240,131 (2024 - £235,820)


13.


Controlling party

The company is under the control of the directors.
 
Page 10