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Company registration number: 07668351
Theatre Street Medical Supplies Limited
Unaudited filleted financial statements
31 October 2024
Theatre Street Medical Supplies Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Theatre Street Medical Supplies Limited
Directors and other information
Directors Mr P Devlukia (Resigned 1 November 2024)
Mrs M Devlukia (Resigned 1 November 2024)
Mrs K Niruban (Appointed 1 November 2024)
Dr. E V Omorogbe (Appointed 1 November 2024)
Dr. S V Falkingham (Appointed 1 November 2024)
Mrs T L Mann (Appointed 1 November 2024)
Mr. J A Mulloor (Appointed 1 November 2024)
Company number 07668351
Registered office 192 Norwich Road
Norwich
Norfolk
NR5 0EX
Business address 27 Theatre Street
Dereham
Norfolk
NR19 2EN
Accountants Hindocha Pandit & Co Limited
34 Queensbury Station Parade
Edgware
Middlesex
HA8 5NN
Theatre Street Medical Supplies Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Theatre Street Medical Supplies Limited
Period ended 31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Theatre Street Medical Supplies Limited for the period ended 31 October 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Theatre Street Medical Supplies Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Theatre Street Medical Supplies Limited and state those matters that we have agreed to state to the board of directors of Theatre Street Medical Supplies Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Theatre Street Medical Supplies Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Theatre Street Medical Supplies Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Theatre Street Medical Supplies Limited. You consider that Theatre Street Medical Supplies Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Theatre Street Medical Supplies Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hindocha Pandit & Co Limited
Chartered Certfied Accountants
34 Queensbury Station Parade
Edgware
Middlesex
HA8 5NN
6 May 2025
Theatre Street Medical Supplies Limited
Statement of financial position
31 October 2024
31/10/24
Note £ £ £ £
Fixed assets
Tangible assets 5 31,416 35,075
_______ _______
31,416 35,075
Current assets
Stocks 31,168 37,500
Debtors 6 146,762 4,725,267
Cash at bank and in hand 41,503 249,761
_______ _______
219,433 5,012,528
Creditors: amounts falling due
within one year 7 ( 139,371) ( 1,646,673)
_______ _______
Net current assets 80,062 3,365,855
_______ _______
Total assets less current liabilities 111,478 3,400,930
_______ _______
Net assets 111,478 3,400,930
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 111,378 3,400,830
_______ _______
Shareholders funds 111,478 3,400,930
_______ _______
For the period ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 06 May 2025 , and are signed on behalf of the board by:
Mrs T L Mann
Director
Company registration number: 07668351
Theatre Street Medical Supplies Limited
Statement of changes in equity
Period ended 31 October 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 December 2022 (as previously reported) 100 2,046,247 2,046,347
Prior period adjustments (-) 1,159,849 1,159,849
_______ _______ _______
At 1 December 2022 (restated) 100 3,206,096 3,206,196
Profit for the period 194,734 194,734
_______ _______ _______
Total comprehensive income for the period - 194,734 194,734
_______ _______ _______
At and 1 December 2023 100 3,400,830 3,400,930
Profit for the period 178,076 178,076
Other comprehensive income for the period:
Remeasurement of the net defined benefit plan ( 49,599) ( 49,599)
_______ _______ _______
Total comprehensive income for the period - 128,477 128,477
Dividends paid and payable ( 3,417,929) ( 3,417,929)
_______ _______ _______
Total investments by and distributions to owners - ( 3,417,929) ( 3,417,929)
_______ _______ _______
At 31 October 2024 100 111,378 111,478
_______ _______ _______
Theatre Street Medical Supplies Limited
Notes to the financial statements
Period ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 192 Norwich Road, Norwich, Norfolk, NR5 0EX.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Exceptional items
Exceptional items are disclosed separately in the financial statements in order to provide further understanding of the financial performance of the entity. They are material items of income or expense that have been shown separately because of their nature or amount.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 15 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 2 (: 4 ).
5. Tangible assets
Short leasehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 December 2023 and 31 October 2024 80,000 64,323 144,323
_______ _______ _______
Depreciation
At 1 December 2023 48,259 60,989 109,248
Charge for the year 3,201 458 3,659
_______ _______ _______
At 31 October 2024 51,460 61,447 112,907
_______ _______ _______
Carrying amount
At 31 October 2024 28,540 2,876 31,416
_______ _______ _______
At 31,741 3,334 35,075
_______ _______ _______
6. Debtors
31/10/24
£ £
Trade debtors 123,848 108,487
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 4,593,256
Other debtors 22,914 23,524
_______ _______
146,762 4,725,267
_______ _______
7. Creditors: amounts falling due within one year
31/10/24
£ £
Trade creditors 76,007 144,924
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 1,436,232
Corporation tax 60,578 59,517
Social security and other taxes 70 -
Other creditors 2,716 6,000
_______ _______
139,371 1,646,673
_______ _______
8. Controlling party
The shares of the company were held by Costessey (Norwich) Holdings Limited which is under the control of Mr P and Mrs M Devlukia the directors' of the company.