Specialist Medicolegal Associates Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04033745 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2021

for

Specialist Medicolegal Associates

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

B Cohen

REGISTERED OFFICE:

1st Floor

Healthaid House

Marlborough Hill

Harrow

Middlesex

HA1 1UD

REGISTERED NUMBER:

04033745 (England and Wales)

ACCOUNTANTS:

Grant Harrod Lerman Davis LLP

Chartered Accountants

1st Floor

Healthaid House

Marlborough Hill

Harrow

Middlesex

HA1 1UD

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

42,879

46,006

Investments

6

178,575

162,865

221,454

208,871

CURRENT ASSETS

Debtors

7

172,377

40,405

Cash at bank and in hand

8

41,508

35,973

213,885

76,378

CREDITORS

Amounts falling due within one year

9

210,362

132,955

NET CURRENT ASSETS/(LIABILITIES)

3,523

(56,577

)

TOTAL ASSETS LESS CURRENT LIABILITIES

224,977

152,294

CREDITORS

Amounts falling due after more than one year

10

38,667

-

NET ASSETS

186,310

152,294

CAPITAL AND RESERVES

Called up share capital

11

400

400

Retained earnings

185,910

151,894

SHAREHOLDERS' FUNDS

186,310

152,294

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 19 June 2022 and were signed by:

B Cohen - Director

1.	STATUTORY INFORMATION

Specialist Medicolegal Associates 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

* the amount of revenue can be measured reliably;

* it is probable that the company will receive the consideration due under the contract;

* the stage of completion of the contract at the end of the reporting period can be measured

reliably; and

* the costs incurred and the costs to complete the contract can be measured reliably.

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Profit and Loss Account over its useful economic life.

Intangible assets

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings - 25% Straight line

Other fixed assets - No depreciation

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and Loss Account.

Other fixed assets comprise artworks owned by the company. No depreciation is charged on these assets as it is the opinion of the director that these have an indefinite useful life. This is contrary to the Companies Act 2006 requirement for all fixed assets to be depreciated but is required in the opinion of the director to present true and fair financial statements.

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.

Interest income

Interest income is recognised in the Profit and Loss Account using the effective interest method.

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2020

and 31 July 2021

510,200

AMORTISATION

At 1 August 2020

and 31 July 2021

510,200

NET BOOK VALUE

At 31 July 2021

-

At 31 July 2020

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 August 2020

32,191

60,738

-

92,929

Additions

-

6,026

1,087

7,113

At 31 July 2021

32,191

66,764

1,087

100,042

DEPRECIATION

At 1 August 2020

-

46,923

-

46,923

Charge for year

-

9,968

272

10,240

At 31 July 2021

-

56,891

272

57,163

NET BOOK VALUE

At 31 July 2021

32,191

9,873

815

42,879

At 31 July 2020

32,191

13,815

-

46,006

6.	FIXED ASSET INVESTMENTS

2021

2020

£

£

Shares in group undertakings

100,918

12,927

Loans to group undertakings

77,657

149,938

178,575

162,865

Additional information is as follows:

Shares in

group

undertakings

£

COST

At 1 August 2020

12,927

Additions

100,000

Disposals

(12,009

)

At 31 July 2021

100,918

NET BOOK VALUE

At 31 July 2021

100,918

At 31 July 2020

12,927

Loans to

group

undertakings

£

At 1 August 2020

149,938

Repayment in year

(49,211

)

Other movement

(23,070

)

At 31 July 2021

77,657

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

26,277

28,323

Other debtors

146,100

12,082

172,377

40,405

8.	CASH AT BANK AND IN HAND

2021

2020

£

£

Bank account no. 1

41,095

35,337

Bank account no. 2

-

223

Cash in hand

413

413

41,508

35,973

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

9,667

-

Taxation and social security

51,783

64,568

Other creditors

148,912

68,387

210,362

132,955

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

38,667

-

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

400

Ordinary Shares

£1

400

400