MM Medical Companies Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09247730 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

MM MEDICAL COMPANIES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A Aimar

REGISTERED OFFICE:

3rd Floor Palladium House

1-4 Argyll Street

London

W1F 7LD

REGISTERED NUMBER:

09247730 (England and Wales)

ACCOUNTANTS:

ACT London Limited

32 Sackville Street

Mayfair

London

Greater London

W1S 3EA

FIXED ASSETS

Investments

4

730,000

500,000

CURRENT ASSETS

Debtors

5

339,424

572,926

Cash at bank

2,968

37,898

342,392

610,824

CREDITORS

Amounts falling due within one year

6

1,067,943

1,097,276

NET CURRENT LIABILITIES

(725,551

)

(486,452

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,449

13,548

CAPITAL AND RESERVES

Called up share capital

12,792

12,792

Revaluation reserve

7

10,755

10,755

Retained earnings

(19,098

)

(9,999

)

4,449

13,548

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

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

The director acknowledges his 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 19 September 2019 and were signed by:

A Aimar - Director

1.	STATUTORY INFORMATION

MM Medical Companies Ltd 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. The comparative figures of the financial statements

have been restated and amended to realign it with the current years financial statements disclosures.

Preparation of consolidated financial statements

In the opinion of the director, the company and its subsidiary undertakings comprise a small group.

The company has therefore taken advantage of the exemption provided by Section 398 of the

Companies Act 2006 not to prepare group accounts.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Foreign currencies

The company changed its presentational and functional currency to Euros during the period.

Transactions denominated in currencies other than Euros are translated into Euros at the rate of

exchange prevailing at the date of transaction. Monetary assets and liabilities denominated in

currencies other than Euros are revalued using the rates of exchange prevailing at the balance sheet

date. Any gain or loss arising from a change in exchange rates subsequent to the date of transaction

is included in the profit and loss account, except for unrealised gains or losses on investments which

are not separately reported.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

€

COST

At 1 January 2018

500,000

Additions

230,000

At 31 December 2018

730,000

NET BOOK VALUE

At 31 December 2018

730,000

At 31 December 2017

500,000

The company owns 100% of the issued share capital of Mimomed SRL., a company incorporated in

Italy.

The principal activity of Mimomed SRL is of Dental Practice.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

€

€

Amounts owed by group undertakings

339,424

572,926

Amounts owed by group undertakings represents the loan due from Mimomed SRL, a subsidiary of

the company incorporated in Italy. The loan bears interest at 3% p.a. and is repayable on demand.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

€

€

Bank loans and overdrafts

-

1

Other creditors

1,063,938

1,090,107

Accruals and deferred income

4,005

7,168

1,067,943

1,097,276

Other creditors represents the shareholders loan balance. The loan attracts interest at 2% p.a. and is

repayable on demand.

7.

RESERVES

Revaluation

reserve

€

At 1 January 2018

and 31 December 2018

10,755

8.	RELATED PARTY DISCLOSURES

No Transactions with related parties were undertaken such as are required to be disclosed under the

Financial Reporting Standard 102 1A, other than those mentioned in note 5 & 6 of the financial

statements.