REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 August 2022 |
for |
Uvamed Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 August 2022 |
for |
Uvamed Ltd |
Uvamed Ltd (Registered number: 09041141) |
Contents of the Financial Statements |
for the Year Ended 31 August 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Uvamed Ltd |
Company Information |
for the Year Ended 31 August 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Park House |
37 Clarence Street |
Leicester |
Leicestershire |
LE1 3RW |
Uvamed Ltd (Registered number: 09041141) |
Balance Sheet |
31 August 2022 |
31.8.22 | 31.8.21 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve |
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. |
Uvamed Ltd (Registered number: 09041141) |
Balance Sheet - continued |
31 August 2022 |
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 |
Uvamed Ltd (Registered number: 09041141) |
Notes to the Financial Statements |
for the Year Ended 31 August 2022 |
1. | STATUTORY INFORMATION |
Uvamed Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The financial statements have been prepared on a going concern basis, assuming the company will continue to trade. This assumption depends on the ability of the directors to maintain the necessary financial support. |
Turnover |
Turnover represents net invoiced sales of services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured using the cost model or the revaluation mode. Under the cost model, assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Where the revaluation method is selected, the intangible asset shall be carried at its fair value at the date of revalution less any subsequent accumulated amortisation and subsequent accumulated impairment losses. |
Patents and licences are being amortised evenly over their estimated useful life of ten years. |
Development costs are being amortised evenly over their estimated useful life of five years. Amortisation commences on completion of development of initial product for marketing worldwide. |
Computer software costs are being amortised evenly over their estimated useful life of ten years. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow-moving stocks. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
Uvamed Ltd (Registered number: 09041141) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2022 |
2. | ACCOUNTING POLICIES - continued |
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 |
4. | INTANGIBLE FIXED ASSETS |
Patents |
and | Development | Computer |
licences | costs | software | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 September 2021 |
and 31 August 2022 |
AMORTISATION |
At 1 September 2021 |
Amortisation for year |
At 31 August 2022 |
NET BOOK VALUE |
At 31 August 2022 |
At 31 August 2021 |
The valuation of the patents and licences was completed by the director in 2019 based on the fair value at the balance sheet date. |
Cost or valuation at 31 August 2022 is represented by: |
Patents |
and | Development | Computer |
licences | costs | software | Totals |
£ | £ | £ | £ |
Valuation in 2019 | 97,128 | - | - | 97,128 |
Cost | 82,872 | 346,995 | 10,500 | 440,367 |
180,000 | 346,995 | 10,500 | 537,495 |
Uvamed Ltd (Registered number: 09041141) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2022 |
4. | INTANGIBLE FIXED ASSETS - continued |
If had not been revalued would have been included at the following historical cost: |
31.8.22 | 31.8.21 |
£ | £ |
Cost | 82,872 | 82,872 |
Aggregate amortisation | (49,378 | ) | (40,791 | ) |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 September 2021 |
Additions |
At 31 August 2022 |
DEPRECIATION |
At 1 September 2021 |
Charge for year |
At 31 August 2022 |
NET BOOK VALUE |
At 31 August 2022 |
At 31 August 2021 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.22 | 31.8.21 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.22 | 31.8.21 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
Other creditors includes accruals and deferred income of £1,495 (2021: £1,495) |
Uvamed Ltd (Registered number: 09041141) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2022 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.8.22 | 31.8.21 |
£ | £ |
Bank loans |
Other creditors |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more than 5 years | - | 1,667 |
Other loans more than 5 years | 89,338 | - |
89,338 | 1,667 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.8.22 | 31.8.21 |
£ | £ |
Other loans | 250,000 | 61,150 |
The other loan is secured by a fixed and floating charge over the assets of the company. |
10. | OTHER FINANCIAL COMMITMENTS |
The total amount of financial commitments, guarantees and contingencies that are not included in the balance sheet is £15,048 (2021: £15,048). |