ACCOUNTS - Final Accounts

THE INTERNATIONAL RADIOLOGY REPORTING GROUP LIMITED - Company Information

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Registered number: 08904203

J.E. SLEIMAN RADIODIAGNOSTIC CENTER LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2019

J.E. SLEIMAN RADIODIAGNOSTIC CENTER LTD

REGISTERED NUMBER: 08904203

BALANCE SHEET

AS AT 28 FEBRUARY 2019

		2019		2018
Note		£		£

Fixed assets
Tangible assets	5		2,231		2,513
			2,231		2,513
Current assets
Debtors: amounts falling due within one year	6	-		775
Cash at bank and in hand		1,962		4,068
		1,962		4,843
Creditors: amounts falling due within one year	7	(3,511)		(960)
Net current (liabilities)/assets			(1,549)		3,883
Total assets less current liabilities			682		6,396

Net assets			682		6,396

Capital and reserves
Called up share capital	100	100
Profit and loss account	582	6,296
	682	6,396

The Director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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J.E. SLEIMAN RADIODIAGNOSTIC CENTER LTD

REGISTERED NUMBER: 08904203

BALANCE SHEET (CONTINUED)

AS AT 28 FEBRUARY 2019

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

Mr E R Sleiman Haddad

Director

Date: 17 June 2019

The notes on pages 3 to 6 form part of these financial statements.

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J.E. SLEIMAN RADIODIAGNOSTIC CENTER LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2019

1.	General information

J.E. Sleiman Radiodiagnostic Center Limited is a private limited company by shares incorporated in England, United Kingdom.
The address of the registered office is Victoria Court, 17-21 Ashford Road, Maidstone, Kent, ME14 5FA.
The nature of the company's operations and principal activites are the provision of medical services.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received.

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J.E. SLEIMAN RADIODIAGNOSTIC CENTER LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2019

2.Accounting policies (continued)

2.4

Taxation

Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment

25% reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

2.6

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

Financial instruments

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J.E. SLEIMAN RADIODIAGNOSTIC CENTER LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2019

2.Accounting policies (continued)

2.9

Financial instruments (continued)

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

No significant judgements have been made by management in preparing these financial statements.

Employees

	The Company has no employees other than the Directors, who did not receive any remuneration (2018 - £NIL).
	The average monthly number of employees, including directors, during the year was 0 (2018 - 0).

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J.E. SLEIMAN RADIODIAGNOSTIC CENTER LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2019

5.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 March 2018	4,550
	Additions	466
	At 28 February 2019	5,016
	Depreciation
	At 1 March 2018	2,037
	Charge for the year on owned assets	748
	At 28 February 2019	2,785
	Net book value
	At 28 February 2019	2,231
	At 28 February 2018	2,513

Debtors

					2019	2018
					£	£


Other debtors	-	775
	-	775

7.	Creditors: Amounts falling due within one year
		2019	2018
		£	£

Other creditors	2,420	-
Accruals and deferred income	1,091	960
	3,511	960

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