Company registration number 06258724 (England and Wales)
UME DIAGNOSTICS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
UME DIAGNOSTICS LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7
UME DIAGNOSTICS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2021
31 December 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Intangible assets
4
29,150
64,426
Tangible assets
3
2,088
7,322
Investments
5
235,408
235,408
266,646
307,156
Current assets
Debtors
6
5,186,655
3,748,028
Cash at bank and in hand
15,658
8,158
5,202,313
3,756,186
Creditors: amounts falling due within one year
7
(5,350,721)
(3,935,269)
Net current liabilities
(148,408)
(179,083)
Net assets
118,238
128,073
Capital and reserves
Called up share capital
25,000,000
25,000,000
Other reserves
41,006,555
41,006,555
Profit and loss reserves
(65,888,317)
(65,878,482)
Total equity
118,238
128,073
The directors of the company have elected not to include a copy of the income statement within the financial statements.
true
For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
UME DIAGNOSTICS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 DECEMBER 2021
31 December 2021
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 28 September 2022 and are signed on its behalf by:
Mr A Tabbara
Director
Company Registration No. 06258724
UME DIAGNOSTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 3 -
1
Accounting policies
Company information
UME Diagnostics Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
17 Harley Street, Marylebone, London, W1G 9QH.
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 Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
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.
1.2
Turnover
Turnover represents the amounts (excluding value added tax and net of discounts given) derived from the provision of diagnostics imaging and outpatient services, rental income, and income from a revenue sharing arrangement related to a subletting agreement. Revenue is recognised upon performance of the service.
1.3
Intangible fixed assets
Other intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
1.4
Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date
Office Equipment
3-5 Years
UME DIAGNOSTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 4 -
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.
1.5
Taxation
Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operate and generate income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
-
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
-
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
-
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
1.6
Retirement benefits
Pensions
The amount charged to the Profit and Loss account in respect of pension costs during the year relates to the contributions made to defined contribution schemes on behalf of employees.
1.7
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
1.8
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
1.9
Investments in subsidiaries are measured at cost less accumulated impairment.
UME DIAGNOSTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 5 -
1.10
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
2
2
3
Tangible fixed assets
Office Equipment
£
Cost
At 1 January 2021 and 31 December 2021
182,074
Depreciation and impairment
At 1 January 2021
174,752
Depreciation charged in the year
5,234
At 31 December 2021
179,986
Carrying amount
At 31 December 2021
2,088
At 31 December 2020
7,322
UME DIAGNOSTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 6 -
4
Intangible fixed assets
Software
£
Cost
At 1 January 2021 and 31 December 2021
141,103
Amortisation and impairment
At 1 January 2021
76,677
Amortisation charged for the year
35,276
At 31 December 2021
111,953
Carrying amount
At 31 December 2021
29,150
At 31 December 2020
64,426
5
Fixed asset investments
2021
2020
£
£
Shares in group undertakings and participating interests
235,408
235,408
6
Debtors
2021
2020
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
4,687,266
3,238,842
Other debtors
499,389
509,186
5,186,655
3,748,028
7
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
14,790
6,046
Amounts owed to group undertakings
5,216,123
3,868,204
Taxation and social security
50,986
44,942
Other creditors
68,822
16,077
5,350,721
3,935,269
UME DIAGNOSTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 7 -
8
Reserves
Other Reserves
Other reserves relate to a capital contribution reserve, which represents 1) The difference between the value of loan notes issued to the Company's parent and the restated value on the date of transition to FRS 102 and 2) The value of these loan notes and of those issued to fellow subsidiary UME Diagnostic Management Company Limited which were written off by the lenders during
2018.
9
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2021
2020
£
£
12,466,032
13,203,479
10
Parent company
The company's immediate parent is United Medical Enterprises Group LLP, a Limited Liability Partnership incorporated in England and Wales, which is the smallest group in which the results of the Company are consolidated. Copies of United Medical Enterprises Group LLP financial statements are available from Companies House, Crown Way, Cardiff, CF14 3UZ.
The ultimate parent is United Medical Enterprises Group Limited (BC 343764), incorporated in the British Virgin Islands. This company is the largest group in which the results of the company are consolidated.