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Registration number: 12147113

Assos Medical & Surgical Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 August 2024

 

Assos Medical & Surgical Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Assos Medical & Surgical Ltd

Company Information

Directors

Colm McAlinden

Eirini Skiadaresi

Registered office

11 Sherborne Walk
Mayals
Mumbles
Wales
SA3 5DQ

Bankers

HSBC
PO Box 27
101 - 103 Station Road
Edgware
Middlesex
HA8 7JJ

Accountants

Kennedy & Company
Chartered Certified Accountants21 Kilmorey Street
Newry, Co Down
BT34 2DF

 

Assos Medical & Surgical Ltd

(Registration number: 12147113)
Abridged Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

42,207

55,929

Current assets

 

Debtors

98,737

-

Cash at bank and in hand

 

752,411

574,086

 

851,148

574,086

Prepayments and accrued income

 

784

1,381

Creditors: Amounts falling due within one year

(116,023)

(86,200)

Net current assets

 

735,909

489,267

Total assets less current liabilities

 

778,116

545,196

Accruals and deferred income

 

(13,388)

(12,650)

Net assets

 

764,728

532,546

Capital and reserves

 

Retained earnings

764,728

532,546

Shareholders' funds

 

764,728

532,546

 

Assos Medical & Surgical Ltd

(Registration number: 12147113)
Abridged Balance Sheet as at 31 August 2024

For the financial year ending 31 August 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

The financial statements were approved and authorised by the Board on 9 June 2025 and signed on its behalf by:
 

.........................................

Colm McAlinden
Director

.........................................

Eirini Skiadaresi
Director

 

Assos Medical & Surgical Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in Wales.

The address of its registered office is:
11 Sherborne Walk
Mayals
Mumbles
Wales
SA3 5DQ

These financial statements were authorised for issue by the Board on 9 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company.

All members have consented to the abridgement of these financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:


Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from the provision of medical services is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the percentage of the medical journey that has been completed.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

 

Assos Medical & Surgical Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

Tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Asset class

Depreciation method and rate

Office Equipment

15% Reducing Balance Basis

Motor Vehicle

25% Reducing Balance Basis

Trade debtors

Debtors with no stated interest rate and receivable with one year are recorded at transaction price. Any losses arising from impairmrnt are recognised in the profit and loss account in other administrative expenses.

Trade creditors

Creditors with no stated interest rate and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

 

Assos Medical & Surgical Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

 

Assos Medical & Surgical Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Office Equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

3,763

71,100

74,863

At 31 August 2024

3,763

71,100

74,863

Depreciation

At 1 September 2023

1,159

17,775

18,934

Charge for the year

391

13,331

13,722

At 31 August 2024

1,550

31,106

32,656

Carrying amount

At 31 August 2024

2,213

39,994

42,207

At 31 August 2023

2,604

53,325

55,929

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Share Capital of £1 each

100

100

100

100

       

6

Related party transactions

Transactions with directors
The company had an overdrawn directors loan account of £72,601 (2023: £Nil) at the balance sheet date. This is included in debtors. Interest is charged on the outstanding balance of the loan. The loan is repayable on demand.