Company registration number 08230058 (England and Wales)
Specialty Diagnostix Limited
Unaudited Financial Statements
For the year ended 31 December 2024
PAGES FOR FILING WITH REGISTRAR
Specialty Diagnostix Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
Specialty Diagnostix Limited
Balance Sheet
As at 31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
838
195
Current assets
Debtors
4
172,561
157,417
Cash at bank and in hand
493,419
316,651
665,980
474,068
Creditors: amounts falling due within one year
5
(248,785)
(210,080)
Net current assets
417,195
263,988
Net assets
418,033
264,183
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
417,933
264,083
Total equity
418,033
264,183

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 30 June 2025 and are signed on its behalf by:
Mr David Price
Mrs Margaret Price
Director
Director
Company registration number 08230058 (England and Wales)
Specialty Diagnostix Limited
Notes to the Financial Statements
For the year ended 31 December 2024
- 2 -
1
Accounting policies
Company information

Specialty Diagnostix Limited is a private company limited by shares incorporated in England and Wales. The registered office is Pendragon House, 65 London Road, St Albans, Herts, AL1 1LJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% straight line
Computers
33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Specialty Diagnostix Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 and Section 12 of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present fair value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

 

Basic financial liabilities

Basic financial liabilities, which include trade and other payables and bank loans, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present fair value of the future receipts discounted at a market rate of interest.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Specialty Diagnostix Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 January 2024
1,340
1,937
3,277
Additions
-
0
927
927
At 31 December 2024
1,340
2,864
4,204
Depreciation and impairment
At 1 January 2024
1,339
1,743
3,082
Depreciation charged in the year
-
0
284
284
At 31 December 2024
1,339
2,027
3,366
Carrying amount
At 31 December 2024
1
837
838
At 31 December 2023
1
194
195
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
172,561
153,246
Other debtors
-
0
4,171
172,561
157,417
Specialty Diagnostix Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
53,541
65,054
Taxation and social security
65,648
32,234
Other creditors
129,596
112,792
248,785
210,080
6
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Directors Loan Account
-
(102,400)
27,753
(51,449)
(126,096)
(102,400)
27,753
(51,449)
(126,096)
2024-12-312024-01-01falsefalsefalse30 June 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr David PriceMrs Margaret Price082300582024-01-012024-12-31082300582024-12-31082300582023-12-3108230058core:FurnitureFittings2024-12-3108230058core:ComputerEquipment2024-12-3108230058core:FurnitureFittings2023-12-3108230058core:ComputerEquipment2023-12-3108230058core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-3108230058core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3108230058core:CurrentFinancialInstruments2024-12-3108230058core:CurrentFinancialInstruments2023-12-3108230058core:ShareCapital2024-12-3108230058core:ShareCapital2023-12-3108230058core:RetainedEarningsAccumulatedLosses2024-12-3108230058core:RetainedEarningsAccumulatedLosses2023-12-3108230058bus:Director12024-01-012024-12-3108230058bus:Director22024-01-012024-12-3108230058core:FurnitureFittings2024-01-012024-12-3108230058core:ComputerEquipment2024-01-012024-12-31082300582023-01-012023-12-3108230058core:FurnitureFittings2023-12-3108230058core:ComputerEquipment2023-12-31082300582023-12-3108230058bus:PrivateLimitedCompanyLtd2024-01-012024-12-3108230058bus:SmallCompaniesRegimeForAccounts2024-01-012024-12-3108230058bus:FRS1022024-01-012024-12-3108230058bus:AuditExemptWithAccountantsReport2024-01-012024-12-3108230058bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP