ANAESTHESIA CHAMBERS (SCOTLAND) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2023
Company Registration No. SC738196 (Scotland)
PAGES FOR FILING WITH REGISTRAR
ANAESTHESIA CHAMBERS (SCOTLAND) LTD
COMPANY INFORMATION
Directors
Dr J N F Taljard
Ms K I Taljard
Dr L M Taljard
Mr M J Taljard
Company number
SC738196
Registered office
44 Bank Street
Kilmarnock
Ayrshire
KA1 1HA
Accountants
William Duncan + Co
44 Bank Street
Kilmarnock
Ayrshire
KA1 1HA
ANAESTHESIA CHAMBERS (SCOTLAND) LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
ANAESTHESIA CHAMBERS (SCOTLAND) LTD
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF ANAESTHESIA CHAMBERS (SCOTLAND) LTD
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Anaesthesia Chambers (Scotland) Ltd for the Period ended 31 July 2023 which comprise, the balance sheet, the 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 ICAS we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.
This report is made solely to the board of directors of Anaesthesia Chambers (Scotland) Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Anaesthesia Chambers (Scotland) Ltd and state those matters that we have agreed to state to the board of directors of Anaesthesia Chambers (Scotland) Ltd, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Anaesthesia Chambers (Scotland) Ltd and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Anaesthesia Chambers (Scotland) Ltd 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 Anaesthesia Chambers (Scotland) Ltd. You consider that Anaesthesia Chambers (Scotland) Ltd is exempt from the statutory audit requirement for the Period.
We have not been instructed to carry out an audit or a review of the financial statements of Anaesthesia Chambers (Scotland) Ltd. 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.
William Duncan + Co
8 April 2024
Chartered Accountants
44 Bank Street
Kilmarnock
Ayrshire
KA1 1HA
ANAESTHESIA CHAMBERS (SCOTLAND) LTD
BALANCE SHEET
- 2 -
2023
Notes
£
£
Fixed assets
Tangible assets
3
6,149
Current assets
Debtors
4
4,645
Cash at bank and in hand
45,159
49,804
Creditors: amounts falling due within one year
5
(24,765)
Net current assets
25,039
Total assets less current liabilities
31,188
Provisions for liabilities
(1,537)
Net assets
29,651
Capital and reserves
Called up share capital
6
100
Profit and loss reserves
29,551
Total equity
29,651
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial Period ended 31 July 2023 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.
The member has not required the company to obtain an audit of its financial statements for the Period 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.
The financial statements were approved by the board of directors and authorised for issue on 8 April 2024 and are signed on its behalf by:
Dr J N F Taljard
Director
Company registration number SC738196 (Scotland)
ANAESTHESIA CHAMBERS (SCOTLAND) LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 JULY 2023
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 August 2022
100
100
Period ended 31 July 2023:
Profit and total comprehensive income
-
67,551
67,551
Dividends
-
(38,000)
(38,000)
Balance at 31 July 2023
100
29,551
29,651
ANAESTHESIA CHAMBERS (SCOTLAND) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2023
- 4 -
1
Accounting policies
Company information
Anaesthesia Chambers (Scotland) Ltd is a private company limited by shares incorporated in Scotland. The registered office is 44 Bank Street, Kilmarnock, Ayrshire, KA1 1HA.
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. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.3
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:
Computers
25% on cost
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.
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
ANAESTHESIA CHAMBERS (SCOTLAND) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 5 -
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
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.
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.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
ANAESTHESIA CHAMBERS (SCOTLAND) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2023
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2
Employees
The average monthly number of persons (including directors) employed by the company during the Period was:
2023
Number
Total
3
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022
Additions
8,198
At 31 July 2023
8,198
Depreciation and impairment
At 1 August 2022
Depreciation charged in the Period
2,049
At 31 July 2023
2,049
Carrying amount
At 31 July 2023
6,149
4
Debtors
2023
Amounts falling due within one year:
£
Trade debtors
3,049
Amounts owed by group undertakings
251
Other debtors
1,345
4,645
ANAESTHESIA CHAMBERS (SCOTLAND) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2023
- 7 -
5
Creditors: amounts falling due within one year
2023
£
Trade creditors
34
Corporation tax
17,311
Other creditors
7,420
24,765
6
Called up share capital
2023
2023
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
100
100
7
Directors' transactions
Description
% Rate
Opening balance
Amounts repaid
Closing balance
£
£
£
Directors Loan
-
-
(5,420)
(5,420)
-
(5,420)
(5,420)