SU Medical Limited - Accounts to registrar (filleted) - small 18.2
SU Medical Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 July 2020 |
| for |
| SU Medical Limited |
| SU Medical Limited (Registered number: 08623058) |
| Contents of the Financial Statements |
| for the year ended 31 July 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Chartered Accountants' Report | 7 |
| SU Medical Limited |
| Company Information |
| for the year ended 31 July 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| St George's Court |
| Winnington Avenue |
| Northwich |
| Cheshire |
| CW8 4EE |
| SU Medical Limited (Registered number: 08623058) |
| Balance Sheet |
| 31 July 2020 |
| 31.7.20 | 31.7.19 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| SU Medical Limited (Registered number: 08623058) |
| Notes to the Financial Statements |
| for the year ended 31 July 2020 |
| 1. | STATUTORY INFORMATION |
| SU Medical Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Revenue from the provision of professional services is recognised on delivery of the service. |
| 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: |
| Equipment - 20% straight line |
| Motor vehicles - 25% reducing balance |
| 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. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| SU Medical Limited (Registered number: 08623058) |
| Notes to the Financial Statements - continued |
| for the year ended 31 July 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Short term debtors and creditors |
| Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the Income Statement. |
| Share capital |
| Ordinary A and Ordinary B shares are classed as equity. |
| Cash and cash equivalents |
| Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. |
| Leases |
| Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases. |
| Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 August 2019 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 July 2020 |
| DEPRECIATION |
| At 1 August 2019 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 July 2020 |
| NET BOOK VALUE |
| At 31 July 2020 |
| At 31 July 2019 |
| SU Medical Limited (Registered number: 08623058) |
| Notes to the Financial Statements - continued |
| for the year ended 31 July 2020 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 August 2019 |
| Additions |
| Disposals | ( |
) |
| At 31 July 2020 |
| DEPRECIATION |
| At 1 August 2019 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 July 2020 |
| NET BOOK VALUE |
| At 31 July 2020 |
| At 31 July 2019 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.7.20 | 31.7.19 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.7.20 | 31.7.19 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Taxation and social security | ( |
) |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.7.20 | 31.7.19 |
| £ | £ |
| Hire purchase contracts |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.7.20 | 31.7.19 |
| £ | £ |
| Hire purchase contracts | 59,672 | - |
| SU Medical Limited (Registered number: 08623058) |
| Notes to the Financial Statements - continued |
| for the year ended 31 July 2020 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.7.20 | 31.7.19 |
| value: | £ | £ |
| Ordinary A | 1 | 1 | 1 |
| Ordinary B | 1 | 100 | 100 |
| 101 | 101 |
| 10. | POST BALANCE SHEET EVENTS |
| In March 2020 the UK was impacted by the outbreak of Coronavirus. In order to reduce the spread of the virus the Government imposed significant restrictions on the movement of people and the ability of business to continue to trade. |
| The Coronavirus has resulted in a severe contraction of the UK economy and the imposition of social distancing rules has meant the demand for the company's services has been significantly impacted and income has reduced after date. |
| The director is not able to make a reliable estimate of the financial impact to the reporting period to June 2021. |
| 11. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is Dr J Kim by virtue of his 100% holding of the voting share capital. |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| SU Medical Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SU Medical Limited for the year ended 31 July 2020 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of SU Medical Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of SU Medical Limited and state those matters that we have agreed to state to the Board of Directors of SU Medical Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SU Medical Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that SU Medical 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 SU Medical Limited. You consider that SU Medical Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of SU Medical 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. |
| Chartered Accountants |
| St George's Court |
| Winnington Avenue |
| Northwich |
| Cheshire |
| CW8 4EE |