Bluedop Medical Ltd Filleted accounts for Companies House (small and micro)

BLUEDOP MEDICAL LTD - Company Information

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COMPANY REGISTRATION NUMBER: 09133674

BLUEDOP MEDICAL LTD

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 July 2020

BLUEDOP MEDICAL LTD

FINANCIAL STATEMENTS

YEAR ENDED 31 JULY 2020

CONTENTS	PAGE

Statement of financial position	1

Notes to the financial statements	3

BLUEDOP MEDICAL LTD

STATEMENT OF FINANCIAL POSITION

31 July 2020

	2020	2019
Note	£	£

CURRENT ASSETS

Stocks		7,352	7,352
Debtors	4	10,050	18,627
Cash at bank and in hand		38,409	4,910
		----------	----------
		55,811	30,889

CREDITORS: amounts falling due within one year	5	53,542	91,581
		----------	----------
NET CURRENT ASSETS/(LIABILITIES)		2,269	( 60,692)
		--------	----------
TOTAL ASSETS LESS CURRENT LIABILITIES		2,269	( 60,692)

CREDITORS: amounts falling due after more than one year	6	50,000	–
		----------	----------
NET LIABILITIES		( 47,731)	( 60,692)
		----------	----------

BLUEDOP MEDICAL LTD

STATEMENT OF FINANCIAL POSITION (continued)

31 July 2020

	2020	2019
Note	£	£

CAPITAL AND RESERVES

Called up share capital	186	158
Share premium account	503,283	396,187
Profit and loss account	( 551,200)	( 457,037)
	------------	------------
SHAREHOLDERS DEFICIT	( 47,731)	( 60,692)
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 July 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 12 April 2021 , and are signed on behalf of the board by:

Mr P W Kelly

Director

Company registration number: 09133674

BLUEDOP MEDICAL LTD

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 JULY 2020

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 112 Main Road, Sidcup, Kent, DA14 6NE.

2. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3. TAX ON LOSS

Major components of tax income

	2020	2019
	£	£

Current tax:

R&D tax credit payable	( 10,037)	( 13,850)
	----------	----------
Tax on loss	( 10,037)	( 13,850)
	----------	----------

4. DEBTORS

	2020	2019
	£	£
Other debtors	10,050	18,627
	----------	----------

5. CREDITORS: amounts falling due within one year

	2020	2019
	£	£
Social security and other taxes	268	–
Other creditors	53,274	91,581
	----------	----------
	53,542	91,581
	----------	----------

6. CREDITORS: amounts falling due after more than one year

	2020	2019
	£	£
Bank loans and overdrafts	50,000	–
	----------	-----

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the director did not enter into any advances, credits or guarantees with the company.