Abbreviated Company Accounts - PANACER MEDICAL LIMITED

PANACER MEDICAL LIMITED - Company Information

04890873 PANACER MEDICAL LIMITED 2014-03-31 false 2013-04-01 2014-03-31 true 04890873 2013-04-01 2014-03-31 04890873 2014-03-31 04890873 2013-03-31 04890873 uk-gaap-cd-bus:Director1 2013-04-01 2014-03-31 04890873 uk-gaap-cd-bus:Director2 2013-04-01 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-04-01 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-03-31 iso4217:GBP shares

Registered Number 04890873

PANACER MEDICAL LIMITED

Abbreviated Accounts

31 March 2014

PANACER MEDICAL LIMITED Registered Number 04890873

Abbreviated Balance Sheet as at 31 March 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	14,239	15,863
		14,239	15,863
Current assets
Stocks		4,650	4,500
Debtors		7,386	725
Cash at bank and in hand		146	9,427
		12,182	14,652
Creditors: amounts falling due within one year		(388,231)	(396,938)
Net current assets (liabilities)		(376,049)	(382,286)
Total assets less current liabilities		(361,810)	(366,423)
Total net assets (liabilities)		(361,810)	(366,423)
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		(361,910)	(366,523)
Shareholders' funds		(361,810)	(366,423)

For the year ending 31 March 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 3 March 2015

And signed on their behalf by:
Dr D Panacer, Director

PANACER MEDICAL LIMITED Registered Number 04890873

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
1.1 Accounting convention.
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

The company meets its day to day working capital requirements via funding through the directors’ loan account.

The directors have given assurances that they will continue to support the company by such means and that they will not call on this loan until the company has sufficient financial resources to repay it. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of support by the directors.

1.2 Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

Turnover policy
1.3 Turnover
Turnover represents amounts receivable for goods and services net of VAT.

Tangible assets depreciation policy
1.4 Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Improvements Leasehold - 20% per annum of cost
Fixtures, fittings and equipment - 15% per annum of net book value
Computer equipment - 33% per annum of net book value

Other accounting policies
1.5 Leasing
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the lease term.

1.6 Stock
Stock is valued at the lower of cost and net realisable value.

2Tangible fixed assets

	£
Cost
At 1 April 2013	50,784
Additions	1,355
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2014	52,139
Depreciation
At 1 April 2013	34,921
Charge for the year	2,979
On disposals	-
At 31 March 2014	37,900
Net book values
At 31 March 2014	14,239
At 31 March 2013	15,863

3Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
100 Ordinary shares of £1 each	100	100