MedDx Solutions Limited - Accounts to registrar (filleted) - small 18.2
MedDx Solutions Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2018 |
for |
MedDx Solutions Limited |
MedDx Solutions Limited (Registered number: 08688185) |
Contents of the Financial Statements |
for the year ended 31 December 2018 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
MedDx Solutions Limited |
Company Information |
for the year ended 31 December 2018 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
Unit 2 Foley Works |
Foley Industrial Estate |
Hereford |
Herefordshire |
HR1 2SF |
MedDx Solutions Limited (Registered number: 08688185) |
Abridged Balance Sheet |
31 December 2018 |
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
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. |
MedDx Solutions Limited (Registered number: 08688185) |
Abridged Balance Sheet - continued |
31 December 2018 |
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
The financial statements were approved by the Board of Directors on |
MedDx Solutions Limited (Registered number: 08688185) |
Notes to the Financial Statements |
for the year ended 31 December 2018 |
1. | STATUTORY INFORMATION |
MedDx Solutions Limited is a |
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 |
Turnover |
Turnover is recognised at the fair value of the consideration received or receivable for sales of good and services |
in the ordinary course of the business. Turnover is shown net of Value Added Tax, for goods and services |
provided to customers. |
Intangible assets - patents |
Costs incurred in acquiring or developing patent rights are capitalised where the directors consider that the |
company will benefit from the use of the patent rights. At each accounting period the directors consider whether |
there has been any impairment in the value of such patent rights. Where the directors consider that the value of |
patent rights reduces over time, the directors amortise the value on a straight line basis over the useful economic |
life of the asset. In 2016 the company commenced the amortisation of patent costs over the useful economic life |
of 12 years. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
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 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. |
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. |
MedDx Solutions Limited (Registered number: 08688185) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2018 |
2. | ACCOUNTING POLICIES - continued |
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. |
Assets obtained under hire purchase and finance leases are capitalised as tangible assets and depreciated over |
their useful lives in accordance with depreciation policy. Obligations under such agreements are included in |
creditors net of the finance charge allocated to future periods. The finance element of the lease payments is |
charged to the profit and loss account over the period of the contract. |
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. |
Financial instruments |
Financial instruments are classified and accounted for according to the substance of the contractual arrangement. |
They are classified as financial assets, financial liabilities or equity instruments. An equity instrument is any |
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Government grants |
Government grants, where revenue in nature, are recognised as income in the profit and loss account in the same |
period in which the related expenditure is recognised. |
Grants related to assets are initially credited to a deferral account in creditors and are released to the profit and |
loss account as the related asset is depreciated. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Other intangible assets relates to the value of patent rights held by the company. |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
Cost |
At 1 January 2018 |
Additions |
At 31 December 2018 |
Depreciation |
At 1 January 2018 |
Charge for year |
At 31 December 2018 |
Net book value |
At 31 December 2018 |
At 31 December 2017 |
MedDx Solutions Limited (Registered number: 08688185) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2018 |
6. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2018 | 2017 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable operating |
leases |
2018 | 2017 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2018 | 2017 |
£ | £ |
Hire purchase contracts | 48,125 | 65,625 |
Hire purchase debts are secured on certain fixed assets of the company. |
8. | RELATED PARTY DISCLOSURES |
The company was under the control of its directors, by virtue of their shareholdings (held directly or by other |
related parties). |