Oilfield Medical Limited - Accounts to registrar (filleted) - small 18.2
Oilfield Medical Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020 |
| FOR |
| OILFIELD MEDICAL LIMITED |
| OILFIELD MEDICAL LIMITED (REGISTERED NUMBER: 07642413) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| OILFIELD MEDICAL LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 JULY 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chandler House |
| 7 Ferry Road Office Park |
| Riversway |
| Preston |
| Lancashire |
| PR2 2YH |
| OILFIELD MEDICAL LIMITED (REGISTERED NUMBER: 07642413) |
| BALANCE SHEET |
| 31 JULY 2020 |
| 31/7/20 | 31/7/19 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| OILFIELD MEDICAL LIMITED (REGISTERED NUMBER: 07642413) |
| BALANCE SHEET - continued |
| 31 JULY 2020 |
| 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 |
| OILFIELD MEDICAL LIMITED (REGISTERED NUMBER: 07642413) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2020 |
| 1. | STATUTORY INFORMATION |
| Oilfield Medical Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment in value. |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Health surveillance software | - 25% on cost |
| Equipment | - 20% reducing balance |
| 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. |
| Going concern |
| The directors have a reasonable expectation that the company has adequate resources to continue in |
| operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| OILFIELD MEDICAL LIMITED (REGISTERED NUMBER: 07642413) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2020 |
| 4. | TANGIBLE FIXED ASSETS |
| Health |
| surveillance |
| system | Equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 August 2019 |
| and 31 July 2020 |
| DEPRECIATION |
| At 1 August 2019 |
| Charge for year |
| At 31 July 2020 |
| NET BOOK VALUE |
| At 31 July 2020 |
| At 31 July 2019 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/7/20 | 31/7/19 |
| £ | £ |
| Amounts owed by group undertakings |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/7/20 | 31/7/19 |
| £ | £ |
| Bank loans and overdrafts (see note 8) |
| Trade creditors |
| Amounts owed to group undertakings |
| Tax |
| Directors' current accounts | 4,979 | 12,597 |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31/7/20 | 31/7/19 |
| £ | £ |
| Bank loans (see note 8) |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 7,500 | - |
| OILFIELD MEDICAL LIMITED (REGISTERED NUMBER: 07642413) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2020 |
| 8. | LOANS |
| An analysis of the maturity of loans is given below: |
| 31/7/20 | 31/7/19 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| Amounts falling due between one and two years: |
| Bank loans - 1-2 years |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 7,500 | - |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31/7/20 | 31/7/19 |
| value: | £ | £ |
| Ordinary shares | 1 | 1,000 | 1,000 |
| 10. | RELATED PARTY DISCLOSURES |
| J Finch and Mrs D Finch are also directors and shareholders of Oilfield Medics UK Limited, a company registered in England and Wales. As at 31 July 2020, a balance of £7,198 (2019: £44,209 creditor) was owed from Oilfield Medics UK Limited and is included on the balance sheet within debtors. |