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Unaudited Financial Statements for the Year Ended 31 July 2019 |
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Diagnostic Solutions Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 July 2019 |
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for |
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Diagnostic Solutions Ltd |
Diagnostic Solutions Ltd (Registered number: 02717054) |
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Contents of the Financial Statements |
for the Year Ended 31 July 2019 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Diagnostic Solutions Ltd |
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Company Information |
for the Year Ended 31 July 2019 |
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Director: |
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Secretary: |
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Registered office: |
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Registered number: |
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Accountants: |
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Chartered Accountants |
114-120 Northgate Street |
Chester |
CH1 2HT |
Diagnostic Solutions Ltd (Registered number: 02717054) |
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Statement of Financial Position |
31 July 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
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Tangible assets | 5 |
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Current assets |
Stocks |
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Debtors | 6 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 7 |
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Net current assets |
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Total assets less current liabilities |
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Creditors |
Amounts falling due after more than
one year |
8 |
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( |
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Provisions for liabilities | 10 | ( |
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Net assets |
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Capital and reserves |
Called up share capital |
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Retained earnings |
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Shareholders' funds |
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The director acknowledges his 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. |
Diagnostic Solutions Ltd (Registered number: 02717054) |
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Statement of Financial Position - continued |
31 July 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the director on
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Diagnostic Solutions Ltd (Registered number: 02717054) |
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Notes to the Financial Statements |
for the Year Ended 31 July 2019 |
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1. | Statutory information |
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Diagnostic Solutions Ltd is a
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Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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Revenue from the sale of goods is recognised when the significant risks and rewards of |
ownership have transferred to the buyer, usually on despatch of the goods; the amount of |
revenue can be measured reliably; it is probable that the associated economic benefits will |
flow to the entity and the costs incurred or to be incurred in respect of the transactions can |
be measured reliably. |
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Revenue from the rendering of services is measured by reference to the stage of completion |
of the service transaction at the end of the reporting period provided that the outcome can |
be reliably estimated. When the outcome cannot be reliably estimated, revenue is |
recognised only to the extent that expenses recognised are recoverable. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are |
measured at cost less any accumulated amortisation and any accumulated impairment |
losses. |
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Tangible fixed assets |
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Fixtures, fittings and equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance |
for obsolete and slow moving items. |
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Diagnostic Solutions Ltd (Registered number: 02717054) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2019 |
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2. | Accounting policies - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement |
of Income and Retained Earnings, except to the extent that it relates to items recognised in |
other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not |
reversed at the statement of financial position date. |
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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. |
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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. |
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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. |
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Operating leases |
Lease payments are recognised as an expense over the lease term on a straight-line basis. |
The aggregate benefit of lease incentives is recognised as a reduction to expense over the |
lease term, on a straight-line basis. |
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3. | Employees and directors |
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The average number of employees during the year was
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Diagnostic Solutions Ltd (Registered number: 02717054) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2019 |
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4. | Intangible fixed assets |
Development |
costs |
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Cost |
At 1 August 2018 |
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Additions |
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At 31 July 2019 |
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Amortisation |
At 1 August 2018 |
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Amortisation for year |
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At 31 July 2019 |
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Net book value |
At 31 July 2019 |
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At 31 July 2018 |
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5. | Tangible fixed assets |
Fixtures, |
fittings |
and |
equipment |
£ |
Cost |
At 1 August 2018 |
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Additions |
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At 31 July 2019 |
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Depreciation |
At 1 August 2018 |
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Charge for year |
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At 31 July 2019 |
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Net book value |
At 31 July 2019 |
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At 31 July 2018 |
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Diagnostic Solutions Ltd (Registered number: 02717054) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2019 |
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6. | Debtors: amounts falling due within one year |
2019 | 2018 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | Creditors: amounts falling due within one year |
2019 | 2018 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | Creditors: amounts falling due after more than one year |
2019 | 2018 |
£ | £ |
Other creditors |
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9. | Secured debts |
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Other creditors under creditors: amounts falling due within one year include secured |
creditors of £57,228 (2018 - £71,102). |
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10. | Provisions for liabilities |
2019 | 2018 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
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Other timing differences | ( |
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33,639 | 26,275 |
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Deferred |
tax |
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Balance at 1 August 2018 |
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Charge to Income Statement during year |
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Balance at 31 July 2019 |
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Diagnostic Solutions Ltd (Registered number: 02717054) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2019 |
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11. | Other financial commitments |
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At 31 July 2019 the company had total commitments under non-cancellable operating leases |
over the remaining life of those leases of £30,667 (2018 - £42,167) of which £11,500 is due |
within one year (2018 - £11,500). |
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12. | Related party disclosures |
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The director has made loans to the company. The balance on these loans at 31 July 2019 |
was £46,730 (2018 - £7,025). The loans are interest free and repayable on demand. |