Company registration number 09823188 (England and Wales)
HAQUE MEDICALS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
HAQUE MEDICALS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
HAQUE MEDICALS LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
172,829
172,829
Current assets
Debtors
4
50,032
50,032
Cash at bank and in hand
60,119
47,860
110,151
97,892
Creditors: amounts falling due within one year
5
(52,904)
(45,243)
Net current assets
57,247
52,649
Total assets less current liabilities
230,076
225,478
Creditors: amounts falling due after more than one year
6
(71,516)
(76,022)
Net assets
158,560
149,456
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
158,360
149,256
Total equity
158,560
149,456
For the financial year ended 31 October 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 director acknowledges his 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 director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 27 July 2025
Dr A Hussain
Director
Company registration number 09823188 (England and Wales)
HAQUE MEDICALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 2 -
1
Accounting policies
Company information
Haque Medicals Limited is a private company limited by shares incorporated in England and Wales. The registered office is 247 Gower Road, Sketty, Swansea, SA2 9JL.
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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.
When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.
1.3
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.4
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.
HAQUE MEDICALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 3 -
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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
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, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. 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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Investment property
2024
£
Fair value
At 1 November 2023 and 31 October 2024
172,829
The director is of the opinion that this is its market value at 31st October 2024.
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
50,032
50,032
HAQUE MEDICALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
5,298
6,500
Corporation tax
2,370
2,490
Other creditors
45,236
36,253
52,904
45,243
The company's bank loan is secured by a charge over the company's freehold property and a fixed and floating charge over the company's assets,
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
71,516
76,022
The company's bank loan is secured by a charge over the company's freehold property and a fixed and floating charge over the company's assets.
Included within creditors: amounts falling due after more than one year is an amount of £50,322 (2023 £50,022) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The loan is repayable by 180 monthly instalments and interest is charged at 3.15% per annum.
7
Related party transactions
The company is owed £50,001 by a trading company owned by a relative of the company's director. The amount advanced is interest free and repayable on demand.