Premier Medical Properties Limited - Accounts to registrar (filleted) - small 18.2
Premier Medical Properties Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MAY 2018 TO 31 DECEMBER 2018 |
FOR |
PREMIER MEDICAL PROPERTIES LIMITED |
PREMIER MEDICAL PROPERTIES LIMITED (REGISTERED NUMBER: 04413846) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the period 1 May 2018 to 31 December 2018 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
PREMIER MEDICAL PROPERTIES LIMITED |
COMPANY INFORMATION |
for the period 1 May 2018 to 31 December 2018 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Magma House |
16 Davy Court |
Castle Mound Way |
Rugby |
CV23 0UZ |
PREMIER MEDICAL PROPERTIES LIMITED (REGISTERED NUMBER: 04413846) |
BALANCE SHEET |
31 December 2018 |
2018 | 2018 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve |
Retained earnings |
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. |
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 by: |
PREMIER MEDICAL PROPERTIES LIMITED (REGISTERED NUMBER: 04413846) |
NOTES TO THE FINANCIAL STATEMENTS |
for the period 1 May 2018 to 31 December 2018 |
1. | STATUTORY INFORMATION |
Premier Medical Properties Limited is a |
The company's registered number and registered office address can be found on the Company Information |
page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: |
Rendering of services |
Revenue from a contract to provide services is recognised in the period in which the services are provided in |
accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
-the amount of revenue can be measured reliably; |
-it is probable that the Company will receive the consideration due under the contract; |
-the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
-the costs incurred and the costs to complete the contract can be measured reliably. |
Tangible fixed assets |
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated |
impairment losses. Historical costs 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, using either a straight line or reducing balance method, as indicated below. |
Depreciation is provided on the following basis: |
Fixtures and fittings | - 20% | straight line |
Motor vehicles | - 33% | reducing balance |
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 profit or loss. |
Financial instruments |
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. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period |
for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is |
recognised in profit or loss. |
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an |
enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise |
the asset and settle the liability simultaneously. |
PREMIER MEDICAL PROPERTIES LIMITED (REGISTERED NUMBER: 04413846) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 May 2018 to 31 December 2018 |
2. | ACCOUNTING POLICIES - continued |
Debtors |
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the |
arrangement constitutes a financing transaction, where the transaction is measured at the present value of the |
future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost |
using the effective interest method, less any impairment. |
Cash and cash equivalents |
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and |
other short-term 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. |
Creditors |
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related |
parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, |
where the debt instrument is measured at the present value of the future payments discounted at a market rate |
of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less |
any impairment. |
Taxation |
The tax expense for the year comprises current and deferred tax. |
Tax is recognised in profit or loss 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. |
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by |
the balance sheet date, except that: |
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered |
against the reversal of deferred tax liabilities or other future taxable profits; and |
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have |
been met. |
Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively |
enacted by the balance sheet date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
PREMIER MEDICAL PROPERTIES LIMITED (REGISTERED NUMBER: 04413846) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 May 2018 to 31 December 2018 |
4. | TANGIBLE FIXED ASSETS |
Freehold | Fixtures |
land & | and | Motor |
buildings | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 May 2018 |
Disposals | ( |
) | ( |
) |
At 31 December 2018 |
DEPRECIATION |
At 1 May 2018 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) |
At 31 December 2018 |
NET BOOK VALUE |
At 31 December 2018 |
At 30 April 2018 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2018 |
£ | £ |
Trade debtors |
Amounts owed by participating interests | 112,494 | - |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2018 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to participating interests | 103,370 | - |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2018 | 2018 |
£ | £ |
Bank loans |
Amounts owed to participating interests | - | 109,336 |
PREMIER MEDICAL PROPERTIES LIMITED (REGISTERED NUMBER: 04413846) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 May 2018 to 31 December 2018 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2018 | 2018 |
£ | £ |
Bank loans |
The bank loan is covered by both a fixed and floating charge with Handelsbanken PLC. The floating charge |
covers all the property or undertaking of the company. |
9. | PROVISIONS FOR LIABILITIES |
2018 | 2018 |
£ | £ |
Deferred tax | 133,611 | 133,611 |
Deferred |
tax |
£ |
Balance at 1 May 2018 |
Balance at 31 December 2018 |
10. | RELATED PARTY DISCLOSURES |
At the period end, a balance of £103,370 (previous period: £109,336) was owed to a company with common |
directorships. Sales of £21,555 were made to this company during the period. |
At the period end, a balance of £112,494 (previous period: £134,610) was owed by a partnership in which the |
directors are partners. Sales of £62,867 were made to the partnership during the period. |