Patient Ambulance Services Ltd 31/05/2020 iXBRL

Patient Ambulance Services Ltd 31/05/2020 iXBRL

PATIENT AMBULANCE SERVICES LTD - Company Information

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Company registration number: 08065452
Patient Ambulance Services Ltd
Unaudited filleted financial statements
31 May 2020
Patient Ambulance Services Ltd
Registration number 08065452
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Patient Ambulance Services Ltd
Directors and other information
Directors Mr K Wolden
Mrs A Wolden
Company number 08065452
Registered office The Manor House
Birchinley Lane
Milnrow
Rochdale
OL16 3DG
Accountants Hodgson Hey Limited
Heritage Exchange
South Lane
Elland
HX5 0HG
Bankers Barclays Bank plc
Leicester
LE87 2BB
Patient Ambulance Services Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Patient Ambulance Services Ltd
Year ended 31 May 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Patient Ambulance Services Ltd for the year ended 31 May 2020 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Patient Ambulance Services Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Patient Ambulance Services Ltd and state those matters that we have agreed to state to the board of directors of Patient Ambulance Services Ltd as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Patient Ambulance Services Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Patient Ambulance Services Ltd 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 profit of Patient Ambulance Services Ltd. You consider that Patient Ambulance Services Ltd 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 Patient Ambulance Services Ltd. 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.
Hodgson Hey Limited
Chartered Certified Accountants
Heritage Exchange
South Lane
Elland
HX5 0HG
25 November 2020
Patient Ambulance Services Ltd
Statement of financial position
31 May 2020
2020 2019
Note £ £ £ £
Fixed assets
Tangible assets 5 41,617 52,763
_______ _______
41,617 52,763
Current assets
Stocks 5,810 18,005
Debtors 6 3,957 4,196
Cash at bank and in hand 40,464 24,539
_______ _______
50,231 46,740
Creditors: amounts falling due
within one year 7 ( 93,151) ( 116,130)
_______ _______
Net current liabilities ( 42,920) ( 69,390)
_______ _______
Total assets less current liabilities ( 1,303) ( 16,627)
_______ _______
Net liabilities ( 1,303) ( 16,627)
_______ _______
Capital and reserves
Called up share capital 200 200
Profit and loss account ( 1,503) ( 16,827)
_______ _______
Shareholders deficit ( 1,303) ( 16,627)
_______ _______
For the year ending 31 May 2020 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 25 November 2020 , and are signed on behalf of the board by:
Mr K Wolden
Director
Company registration number: 08065452
Patient Ambulance Services Ltd
Statement of changes in equity
Year ended 31 May 2020
Called up share capital Profit and loss account Total
£ £ £
At 1 June 2018 200 ( 37,009) ( 36,809)
Profit for the year 20,182 20,182
_______ _______ _______
Total comprehensive income for the year - 20,182 20,182
_______ _______ _______
At 31 May 2019 and 1 June 2019 200 ( 16,827) ( 16,627)
Profit for the year 15,324 15,324
_______ _______ _______
Total comprehensive income for the year - 15,324 15,324
_______ _______ _______
At 31 May 2020 200 ( 1,503) ( 1,303)
_______ _______ _______
Patient Ambulance Services Ltd
Notes to the financial statements
Year ended 31 May 2020
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is The Manor House, Birchinley Lane, Milnrow, Rochdale, OL16 3DG.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2019: 7 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 June 2019 54,674 618 118,500 173,792
Additions - - 8,100 8,100
Disposals - - ( 26,000) ( 26,000)
_______ _______ _______ _______
At 31 May 2020 54,674 618 100,600 155,892
_______ _______ _______ _______
Depreciation
At 1 June 2019 35,007 330 85,692 121,029
Charge for the year 3,933 72 10,227 14,232
Disposals - - ( 20,986) ( 20,986)
_______ _______ _______ _______
At 31 May 2020 38,940 402 74,933 114,275
_______ _______ _______ _______
Carrying amount
At 31 May 2020 15,734 216 25,667 41,617
_______ _______ _______ _______
At 31 May 2019 19,667 288 32,808 52,763
_______ _______ _______ _______
6. Debtors
2020 2019
£ £
Other debtors 3,957 4,196
_______ _______
7. Creditors: amounts falling due within one year
2020 2019
£ £
Corporation tax 6,534 5,080
Other creditors 86,617 111,050
_______ _______
93,151 116,130
_______ _______
8. Controlling party
The directors control the Company due to their majority shareholdings.