Surreal Medicare Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07305618 (England and Wales)

Unaudited Financial Statements for the Year Ended 30th April 2019

for

SURREAL MEDICARE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTORS:

P Radia

S Varia

N Radia

REGISTERED OFFICE:

2 Burton House

Repton Place

White Lion Road

Amersham

Buckinghamshire

HP7 9LP

REGISTERED NUMBER:

07305618 (England and Wales)

ACCOUNTANTS:

Jacquards

2 Burton House

Repton Place

White Lion Road

Amersham

Buckinghamshire

HP7 9LP

FIXED ASSETS

Intangible assets

4

1,705,417

2,122,917

Tangible assets

5

88,222

97,483

Investments

6

12,571

12,571

1,806,210

2,232,971

CURRENT ASSETS

Stocks

434,313

450,900

Debtors

7

1,736,416

1,676,396

Cash at bank and in hand

-

11,145

2,170,729

2,138,441

CREDITORS

Amounts falling due within one year

8

1,915,479

1,799,751

NET CURRENT ASSETS

255,250

338,690

TOTAL ASSETS LESS CURRENT LIABILITIES

2,061,460

2,571,661

CREDITORS

Amounts falling due after more than one year

9

(1,967,247

)

(2,420,357

)

PROVISIONS FOR LIABILITIES

(12,364

)

(13,158

)

NET ASSETS

81,849

138,146

CAPITAL AND RESERVES

Called up share capital

11

1,000

1,000

Retained earnings

80,849

137,146

SHAREHOLDERS' FUNDS

81,849

138,146

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2019 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors on 27th January 2020 and were signed on its behalf by:

N Radia - Director

1.	STATUTORY INFORMATION

Surreal Medicare Limited 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents sales of goods and services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold property

-

over lease term

Fixtures and fittings

-

20% straight line basis

Office equipment

-

25% straight line basis

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2018 - 41 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st May 2018

and 30th April 2019

4,175,000

AMORTISATION

At 1st May 2018

2,052,083

Charge for year

417,500

At 30th April 2019

2,469,583

NET BOOK VALUE

At 30th April 2019

1,705,417

At 30th April 2018

2,122,917

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st May 2018

15,806

546,504

562,310

Additions

-

42,094

42,094

At 30th April 2019

15,806

588,598

604,404

DEPRECIATION

At 1st May 2018

15,290

449,537

464,827

Charge for year

516

50,839

51,355

At 30th April 2019

15,806

500,376

516,182

NET BOOK VALUE

At 30th April 2019

-

88,222

88,222

At 30th April 2018

516

96,967

97,483

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st May 2018

and 30th April 2019

12,571

NET BOOK VALUE

At 30th April 2019

12,571

At 30th April 2018

12,571

7.

DEBTORS

2019

2018

£

£

Amounts falling due within one year:

Trade debtors

1,497,825

1,373,624

Other debtors

200,633

264,814

1,698,458

1,638,438

Amounts falling due after more than one year:

Other debtors

37,958

37,958

Aggregate amounts

1,736,416

1,676,396

The rent deposits are held under a rent deposit deed.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

445,133

398,724

Trade creditors

731,630

728,494

Amounts owed to participating interests

7,478

12,837

Taxation and social security

94,817

109,906

Other creditors

636,421

549,790

1,915,479

1,799,751

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

1,286,025

1,717,748

Other creditors

681,222

702,609

1,967,247

2,420,357

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

92,848

72,848

Participators' loans

588,374

629,761

681,222

702,609

Repayable by instalments

Bank loans more 5 yr by instal

-

100,471

10.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

1,689,326

2,086,069

The company's bank facilities are secured by a fixed and floating charge over the assets of the

company. In addition, the directors have provided personal guarantees for £50,000.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100

720

Ordinary "A"

£1

720

720

180

Ordinary "B"

£1

180

180

1,000

1,000

12.	RELATED PARTY DISCLOSURES

The company is related to Radiant Medicare Limited (RML) by virtue of common shareholding. RML

also holds 40% of the issued share capital of the company and has injected funds in the form of a long

term loan of £272,600 (2018: £272,600) in conjunction with, and pro-rata to, the other participators.

There are no repayment terms or interest charges applying to the loans referred to above.

13.	ULTIMATE CONTROLLING PARTY

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Directors are not required to be filed with the

Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Surreal Medicare Limited for the year ended 30th April 2019 which comprise the

Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the

related notes from the company's accounting records and from information and explanations you have given

us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Surreal Medicare Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Surreal Medicare Limited and state those matters that we have agreed to state to the Board of Directors of Surreal Medicare Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Surreal Medicare Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Surreal Medicare Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Surreal Medicare Limited. You consider that Surreal Medicare Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Surreal Medicare Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Jacquards

2 Burton House

Repton Place

White Lion Road

Amersham

Buckinghamshire

HP7 9LP

27th January 2020