Pass Radiology Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11331261 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2022

for

Pass Radiology Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr B Pass

Mrs R Pass

REGISTERED OFFICE:

3 Park Square

Leeds

LS1 2NE

REGISTERED NUMBER:

11331261 (England and Wales)

ACCOUNTANTS:

Charles Stewart & Co Limited

Chartered Accountants

3 Park Square

Leeds

LS1 2NE

FIXED ASSETS

Tangible assets

4

34,907

48,455

Investments

5

12,000

12,000

46,907

60,455

CURRENT ASSETS

Debtors

6

30,261

7,666

Cash at bank

193,699

90,625

223,960

98,291

CREDITORS

Amounts falling due within one year

7

114,555

93,132

NET CURRENT ASSETS

109,405

5,159

TOTAL ASSETS LESS CURRENT LIABILITIES

156,312

65,614

CREDITORS

Amounts falling due after more than one year

8

(14,034

)

(24,900

)

PROVISIONS FOR LIABILITIES

9

(6,633

)

(9,207

)

NET ASSETS

135,645

31,507

CAPITAL AND RESERVES

Called up share capital

10

200

200

Retained earnings

11

135,445

31,307

SHAREHOLDERS' FUNDS

135,645

31,507

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 in accordance with Section 476 of the Companies Act 2006.

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.

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

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 25 January 2023 and were signed on its behalf by:

Dr B Pass - Director

1.	STATUTORY INFORMATION

Pass Radiology Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

20% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 May 2021

and 30 April 2022

243

65,500

1,994

67,737

DEPRECIATION

At 1 May 2021

159

18,558

565

19,282

Charge for year

49

13,100

399

13,548

At 30 April 2022

208

31,658

964

32,830

NET BOOK VALUE

At 30 April 2022

35

33,842

1,030

34,907

At 30 April 2021

84

46,942

1,429

48,455

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 May 2021

and 30 April 2022

12,000

NET BOOK VALUE

At 30 April 2022

12,000

At 30 April 2021

12,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.22

30.4.21

£

£

Trade debtors

30,261

-

Corporation tax debtor

-

7,666

30,261

7,666

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.22

30.4.21

£

£

Loan creditor

10,605

-

Tax

13,086

13,367

Directors' current accounts

88,965

77,965

Accrued expenses

1,899

1,800

114,555

93,132

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.22

30.4.21

£

£

Loan Creditor

14,034

24,900

The loan creditor represents a loan under HM Government Coronavirus Business Bounce Back Loan Scheme. The loan creditor carries an interest rate of 2.5% per annum and it is repayable in accordance with the rules of the scheme.

9.	PROVISIONS FOR LIABILITIES

30.4.22

30.4.21

£

£

Deferred tax

6,633

9,207

Deferred

tax

£

Balance at 1 May 2021

9,207

Credit to Income Statement during year

(2,574

)

Balance at 30 April 2022

6,633

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.22

30.4.21

value:

£

£

100

Ordinary

£1

100

100

50

A Ordinary

£1

50

50

50

B Ordinary

£1

50

50

200

200

11.

RESERVES

Retained

earnings

£

At 1 May 2021

31,307

Profit for the year

173,138

Dividends

(69,000

)

At 30 April 2022

135,445

12.	RELATED PARTY DISCLOSURES

During the year the company raised invoices totalling £80,000 (2021: 80,307) to Skeletal Imaging Limited a company of which Mr B Pass and Mrs R Pass are directors.

13.	ULTIMATE CONTROL

The company is under the ultimate control of the directors.