Pearl Medical Consultancy Limited - Period Ending 2019-03-31

Pearl Medical Consultancy Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 March 2019

Registration number: 08964790

Pearl Medical Consultancy Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 8

Pearl Medical Consultancy Limited

Company Information

Directors

Mrs Caroline Anne Pearl Dr Daniel Simon Pearl

Registered office

Francis Clark LLP Ground Floor, Blackbrook Gate 1 Blackbrook Business Park Taunton Somerset TA1 2PX

Accountants

Francis Clark LLP Ground Floor Blackbrook Gate 1 Blackbrook Business Park Taunton Somerset TA1 2PX

Page 1

Pearl Medical Consultancy Limited

Balance Sheet

31 March 2019

	Note	2019 £	2018 £
Fixed assets
Tangible assets	4	704	1,406
Other financial assets	5	1	-
		705	1,406
Current assets
Debtors	6	1,890	13,792
Cash at bank and in hand		64,630	24,465
		66,520	38,257
Creditors: Amounts falling due within one year	7	(17,971)	(12,717)
Net current assets		48,549	25,540
Net assets		49,254	26,946
Capital and reserves
Called up share capital		20	20
Profit and loss account		49,234	26,926
Total equity		49,254	26,946

The notes on pages 4 to 8 form an integral part of these financial statements.

Page 2

Pearl Medical Consultancy Limited

Balance Sheet

31 March 2019

For the financial year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 23 December 2019 and signed on its behalf by:
 

......................................... Dr Daniel Simon Pearl Director

Company Registration Number: 08964790

The notes on pages 4 to 8 form an integral part of these financial statements.

Page 3

Pearl Medical Consultancy Limited

Notes to the Financial Statements

Year Ended 31 March 2019

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Francis Clark LLP
Ground Floor, Blackbrook Gate 1
Blackbrook Business Park
Taunton
Somerset
TA1 2PX
England

These financial statements were authorised for issue by the Board on 23 December 2019.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' , including Section 1A, and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration receivable for the provision of services in the ordinary course of the company’s activities. The company recognises revenue when the services have been provided.

Page 4

Pearl Medical Consultancy Limited

Notes to the Financial Statements

Year Ended 31 March 2019

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	33% straight line

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2018 - 1).

Page 5

Pearl Medical Consultancy Limited

Notes to the Financial Statements

Year Ended 31 March 2019

4	Tangible assets

	Office equipment  £	Total £
Cost or valuation
At 1 April 2018	2,108	2,108
At 31 March 2019	2,108	2,108
Depreciation
At 1 April 2018	702	702
Charge for the year	702	702
At 31 March 2019	1,404	1,404
Carrying amount
At 31 March 2019	704	704
At 31 March 2018	1,406	1,406

5	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Non-current financial assets
Cost or valuation
Additions	1	1
At 31 March 2019	1	1
Impairment
Carrying amount
At 31 March 2019	1	1

Page 6

Pearl Medical Consultancy Limited

Notes to the Financial Statements

Year Ended 31 March 2019

6

Debtors

	2019 £	2018 £
Trade debtors	1,890	13,792
	1,890	13,792

7

Creditors

Creditors: amounts falling due within one year

	2019 £	2018  £
Due within one year
Trade creditors	300	600
Corporation tax	3,826	5,933
Other creditors	12,045	4,884
Accrued expenses	1,800	1,300
	17,971	12,717

Page 7

Pearl Medical Consultancy Limited

Notes to the Financial Statements

Year Ended 31 March 2019

8	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary shares of £1 each	20	20	20	20

Page 8