Medicines R Us Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07258925 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2018

for

Medicines R Us Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr S R Blake

Dr J L Howe

Dr M C Jarvis

Mrs G Sharma

A K Sharma

SECRETARY:

Mrs G Sharma

REGISTERED OFFICE:

Congress House

14 Lyon Road

Harrow

Middlesex

HA1 2EN

REGISTERED NUMBER:

07258925 (England and Wales)

FIXED ASSETS

Tangible assets

4

62,973

10,632

Investments

5

100

100

63,073

10,732

CURRENT ASSETS

Stocks

29,969

27,024

Debtors

193,658

205,932

Cash at bank and in hand

213,077

224,350

436,704

457,306

CREDITORS

Amounts falling due within one year

343,250

335,550

NET CURRENT ASSETS

93,454

121,756

TOTAL ASSETS LESS CURRENT LIABILITIES

156,527

132,488

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

6

156,427

132,388

SHAREHOLDERS' FUNDS

156,527

132,488

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 26 February 2019 and were signed on its behalf by:

A K Sharma - Director

1.	STATUTORY INFORMATION

Medicines R Us Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

10% on cost

Fixtures and fittings

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2017 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2017

36,454

Additions

59,610

At 31 May 2018

96,064

DEPRECIATION

At 1 June 2017

25,822

Charge for year

7,269

At 31 May 2018

33,091

NET BOOK VALUE

At 31 May 2018

62,973

At 31 May 2017

10,632

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 June 2017

and 31 May 2018

100

NET BOOK VALUE

At 31 May 2018

100

At 31 May 2017

100

6.

RESERVES

Retained

earnings

£

At 1 June 2017

132,388

Profit for the year

60,583

Dividends

(36,544

)

At 31 May 2018

156,427

7.	RELATED PARTY DISCLOSURES

Director's current account credit balance of £26,048 (2017: £25,236) relates to A K Sharma.

Amounts owed by group undertakings relate to the following;

The company was owed £47,836 (2017: £36,322) from Medicines 4U Ltd, which is a majority shareholder of the

company.

The company was owed £337 (2017: Nil) from Lords Healthcare Ltd, a company where the director; A K

Sharma is also a director.

8.	ULTIMATE CONTROLLING PARTY

Medicines 4U Limited is regarded by the directors as being the companys ultimate parent company.