Medics Network Limited - Limited company - abbreviated - 11.6

Medics Network Limited - Limited company - abbreviated - 11.6

MEDICS NETWORK LIMITED - Company Information

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SC438608 1.4.13 31.3.14 31.3.14 Company accounts Private Limited Company FY true false true false true false false false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC4386082013-03-31SC4386082014-03-31SC4386082013-04-012014-03-31SC4386082012-12-10SC4386082012-12-112013-03-31SC4386082013-03-31SC438608ns12:Scotland2013-04-012014-03-31SC438608ns14:PoundSterling2013-04-012014-03-31SC438608ns7:Director12013-04-012014-03-31SC438608ns7:Director22013-04-012014-03-31SC438608ns7:RegisteredOffice2013-04-012014-03-31SC438608ns7:EntityAccountantsOrAuditors2013-04-012014-03-31SC438608ns7:EntityLawyersOrLegalAdvisers2013-04-012014-03-31SC438608ns5:FixturesFittings2013-04-012014-03-31SC438608ns5:ComputerEquipment2013-04-012014-03-31
REGISTERED NUMBER: SC438608 (Scotland)















ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2014

FOR

MEDICS NETWORK LIMITED

MEDICS NETWORK LIMITED (REGISTERED NUMBER: SC438608)

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2014










Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

MEDICS NETWORK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2014







DIRECTORS: Ms J Marshall
K Hinduja



REGISTERED OFFICE: 292 St. Vincent Street
Glasgow
G2 5TQ



REGISTERED NUMBER: SC438608 (Scotland)



ACCOUNTANTS: Donachie Chartered Accountants
Suite 23, 2 Floor
Templeton House
62 Templeton Street
Glasgow
G40 1DA



SOLICITORS: McLure Naismith
292 St Vincent Street
Glasgow
G2 5TQ
Page 1
MEDICS NETWORK LIMITED (REGISTERED NUMBER: SC438608)

ABBREVIATED BALANCE SHEET
31 MARCH 2014

2014 2013
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 17,763 -

CURRENT ASSETS
Debtors 15,228 -
Cash at bank 135,695 1
150,923 1
CREDITORS
Amounts falling due within one year 164,411 -
NET CURRENT (LIABILITIES)/ASSETS (13,488 ) 1
TOTAL ASSETS LESS CURRENT LIABILITIES 4,275 1

PROVISIONS FOR LIABILITIES 3,553 -
NET ASSETS 722 1

CAPITAL AND RESERVES
Called up share capital 3 100 1
Profit and loss account 622 -
SHAREHOLDERS' FUNDS 722 1

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 27 March 2015 and were signed on its behalf by:




K Hinduja - Director



Ms J Marshall - Director


The notes form part of these abbreviated accounts

Page 2
MEDICS NETWORK LIMITED (REGISTERED NUMBER: SC438608)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2014


1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for
Smaller Entities (effective April 2008).

Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

Turnover
The turnover shown in the profit and loss account represents the value of all services delivered at a selling price exclusive of Value Added Tax.
Sales are recognised at the point at which the Company has fulfilled its contractual obligations to the customer.

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

Fixtures and fittings - 25% Straight line
Computer equipment - 33% Straight line

Tangible fixed assets are stated at cost less depreciation. Cost represents purchase price together with any incidental costs of acquisition.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions
or events have occurred at that date that will result in an obligation to pay more tax, or a right to pay less tax, or a right to receive repayments of
tax.

Deferred tax assets are recognised only to the extent that the directors consider it more likely than not that there will be suitable taxable profits
from which the future reversal of the underlying timing differences can be deducted.

Deferred tax assets and liabilities recognised have not been discounted. Deferred tax is measured on a non-discounted basis at the average tax
rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted
at the balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Financial instruments
Financial instruments are classified and accounted for as financial assets, financial liabilities or equity instruments, according to the substance of
the contractual arrangement.

Financial instruments which are assets are stated at cost less any provision for impairment. Financial liabilities are stated at principal capital
amounts outstanding at the period end. Issue costs relating to financial liabilities are deducted from the outstanding balance and are amortised
over the period to the due date for repayment of the financial liability.

An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. A financial
liability is any contractual arrangement for an entity to deliver cash to the holder of the associated financial instrument.

2. TANGIBLE FIXED ASSETS
Total
£   
COST
Additions 19,650
At 31 March 2014 19,650
DEPRECIATION
Charge for year 1,887
At 31 March 2014 1,887
NET BOOK VALUE
At 31 March 2014 17,763

Page 3
MEDICS NETWORK LIMITED (REGISTERED NUMBER: SC438608)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 MARCH 2014


3. CALLED UP SHARE CAPITAL

Allotted, Issued and fully paid:
Number: Class: Nominal 2014 2013
Value: £ £
48 Ordinary A Shares £1 48 1
49 Ordinary B Shares £1 49 -
1 Ordinary C Shares £1 1 -
1 Ordinary D Shares £1 1 -
1 Ordinary E Shares £1 1 -
100 1

The following shares were allotted and fully paid for cash at par during the year:

47 Ordinary A shares of £1 each
49 Ordinary B shares of £1 each
1 Ordinary C share of £1 each
1 Ordinary D share of £1 each
1 Ordinary E share of £1 each

The holder of an 'A', 'B', 'C', 'D' and 'E' Ordinary share is entitled on a show of hands to one vote and on a poll to one vote for every 'A', 'B', 'C', 'D'
and 'E' Ordinary share of which he or she is the holder.

The holder of each class of Ordinary share is entitled to participate in dividends which the company determines to distribute in respect of any
financial year. Differential rates of dividends can be declared on each class of share.

Page 4