Registration number:
Assos Medical & Surgical Ltd
for the Year Ended 31 August 2024
Assos Medical & Surgical Ltd
Contents
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Company Information |
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Abridged Balance Sheet |
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Notes to the Unaudited Abridged Financial Statements |
Assos Medical & Surgical Ltd
Company Information
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Directors |
Colm McAlinden Eirini Skiadaresi |
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Registered office |
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Bankers |
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Accountants |
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Assos Medical & Surgical Ltd
(Registration number: 12147113)
Abridged Balance Sheet as at 31 August 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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- |
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Cash at bank and in hand |
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Prepayments and accrued income |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Total assets less current liabilities |
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Accruals and deferred income |
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( |
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Net assets |
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Capital and reserves |
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Retained earnings |
764,728 |
532,546 |
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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:
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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.
The financial statements were approved and authorised by the
.........................................
Director
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Director
Assos Medical & Surgical Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024
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General information |
The company is a private company limited by share capital, incorporated in Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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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:
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Asset class |
Depreciation method and rate |
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Office Equipment |
15% Reducing Balance Basis |
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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.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Assos Medical & Surgical Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024
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Tangible assets |
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Office Equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 September 2023 |
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At 31 August 2024 |
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Depreciation |
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At 1 September 2023 |
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Charge for the year |
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At 31 August 2024 |
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Carrying amount |
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At 31 August 2024 |
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At 31 August 2023 |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
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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.