4T Medical Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07932878 (England and Wales)

Financial Statements for the Year Ended 31 December 2019

for

4T Medical Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J T Tordjmann

Mrs L R E Tordjmann

REGISTERED OFFICE:

G12 Blenheim House

Cambridge Innovation Park

Denny End Road. Waterbeach

Cambridge

Cambridgeshire

CB25 9GL

REGISTERED NUMBER:

07932878 (England and Wales)

ACCOUNTANTS:

Uttridge Accounting Ltd

Chartered Certified Accountants

36a Church Street

Willingham

Cambridgeshire

CB24 5HT

FIXED ASSETS

Intangible assets

4

53,771

32,492

Tangible assets

5

45,786

47,845

99,557

80,337

CURRENT ASSETS

Stocks

208,116

138,431

Debtors

6

180,862

146,076

Cash at bank

389,307

191,163

778,285

475,670

CREDITORS

Amounts falling due within one year

7

266,168

188,325

NET CURRENT ASSETS

512,117

287,345

TOTAL ASSETS LESS CURRENT LIABILITIES

611,674

367,682

PROVISIONS FOR LIABILITIES

16,400

11,900

NET ASSETS

595,274

355,782

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

595,272

355,780

SHAREHOLDERS' FUNDS

595,274

355,782

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 and authorised for issue on 25 September 2020 and were signed on its behalf by:

J T Tordjmann - Director

1.	STATUTORY INFORMATION

4T Medical Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Leasehold Improvements

-

20% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on 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 8 (2018 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2019

36,102

Additions

26,294

At 31 December 2019

62,396

AMORTISATION

At 1 January 2019

3,610

Charge for year

5,015

At 31 December 2019

8,625

NET BOOK VALUE

At 31 December 2019

53,771

At 31 December 2018

32,492

5.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

and

Motor

Computer

Improvements

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2019

22,438

33,387

-

22,657

78,482

Additions

-

4,425

8,250

4,997

17,672

At 31 December 2019

22,438

37,812

8,250

27,654

96,154

DEPRECIATION

At 1 January 2019

4,488

15,352

-

10,797

30,637

Charge for year

4,487

8,604

1,203

5,437

19,731

At 31 December 2019

8,975

23,956

1,203

16,234

50,368

NET BOOK VALUE

At 31 December 2019

13,463

13,856

7,047

11,420

45,786

At 31 December 2018

17,950

18,035

-

11,860

47,845

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

154,125

136,712

Other debtors

26,737

9,364

180,862

146,076

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

59,940

50,097

Taxation and social security

188,096

134,256

Other creditors

18,132

3,972

266,168

188,325

8.	OTHER FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £113,750 consisting of operating lease payments due over the 5 year lease term on the new office building (2018: £35,000 over 12 months).

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2019 and 31 December 2018:

2019

2018

£

£

**UNKNOWN DIRECTOR 1**

Balance outstanding at start of year

-

5,046

Amounts repaid

-

(5,046

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

10.	ULTIMATE CONTROLLING PARTY

The company is controlled by J T Tordjmann and Mrs L R E Tordjmann by virtue of their holding of 100% of the issued share capital of the company