Merlion Health Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05129913 (England and Wales)

MERLION HEALTH LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

Page

Company Information

1

Report of the Accountants

2

Balance Sheet

3

to

4

Notes to the Financial Statements

5

to

7

DIRECTORS:

Y K Patel

J Patel

SECRETARY:

J Patel

REGISTERED OFFICE:

Suite D, Astor House

282 Lichfield Road

Four Oaks

Sutton Coldfield

West Midlands

B74 2UG

REGISTERED NUMBER:

05129913 (England and Wales)

ACCOUNTANTS:

Four Oaks Taxation & Accounting Services Limited

Suite D, Astor House

282 Lichfield Road

Four Oaks

Sutton Coldfield

West Midlands

B74 2UG

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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2020 set out on pages two to four and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Four Oaks Taxation & Accounting Services Limited

Suite D, Astor House

282 Lichfield Road

Four Oaks

Sutton Coldfield

West Midlands

B74 2UG

18 December 2020

FIXED ASSETS

Tangible assets

4

67,971

77,338

Investments

5

68,712

78,217

136,683

155,555

CURRENT ASSETS

Stocks

66,500

71,382

Debtors

6

284,453

325,197

Cash at bank

912,344

865,962

1,263,297

1,262,541

CREDITORS

Amounts falling due within one year

7

168,052

158,653

NET CURRENT ASSETS

1,095,245

1,103,888

TOTAL ASSETS LESS CURRENT LIABILITIES

1,231,928

1,259,443

CREDITORS

Amounts falling due after more than one year

8

-

18,642

NET ASSETS

1,231,928

1,240,801

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,231,926

1,240,799

SHAREHOLDERS' FUNDS

1,231,928

1,240,801

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 18 December 2020 and were signed on its behalf by:

Y K Patel - Director

1.	STATUTORY INFORMATION

Merlion Health 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents the net value of goods sold over the counter, excluding value added tax, and the monies received from the local authority in relation to prescriptions and other authorised services carried out.

Tangible fixed assets

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

Improvements to property

-

not provided

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% 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.

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 12 (2019 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2019

57,819

38,153

17,374

8,385

121,731

Additions

-

-

-

1,537

1,537

At 31 March 2020

57,819

38,153

17,374

9,922

123,268

DEPRECIATION

At 1 April 2019

5,782

22,254

8,305

8,052

44,393

Charge for year

5,782

2,385

1,601

1,136

10,904

At 31 March 2020

11,564

24,639

9,906

9,188

55,297

NET BOOK VALUE

At 31 March 2020

46,255

13,514

7,468

734

67,971

At 31 March 2019

52,037

15,899

9,069

333

77,338

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 April 2019

78,217

Revaluations

(9,505

)

At 31 March 2020

68,712

NET BOOK VALUE

At 31 March 2020

68,712

At 31 March 2019

78,217

Cost or valuation at 31 March 2020 is represented by:

Other

investments

£

Valuation in 2020

68,712

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

251,131

288,018

Other debtors

33,322

37,179

284,453

325,197

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

745

3,196

Trade creditors

150,361

129,488

Taxation and social security

13,259

22,419

Other creditors

3,687

3,550

168,052

158,653

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

-

18,642