BIBA MEDICAL GROUP LTD
BIBA MEDICAL GROUP LTD
Company No:
BIBA MEDICAL GROUP LTD
Unaudited Financial Statements
For the financial year ended 30 June 2022
Pages for filing with the registrar
For the financial year ended 30 June 2022
Pages for filing with the registrar
Unaudited Financial Statements
Contents
COMPANY INFORMATION
COMPANY INFORMATION (continued)
DIRECTORS | Prof R M Greenhalgh MA MD MChir FRCS |
Lord S J Greenhalgh |
REGISTERED OFFICE | 526 Fulham Road |
London | |
SW6 5NR | |
United Kingdom |
COMPANY NUMBER | 12423003 (England and Wales) |
CHARTERED ACCOUNTANTS | Berg Kaprow Lewis LLP |
35 Ballards Lane | |
London | |
N3 1XW |
STATEMENT OF FINANCIAL POSITION
STATEMENT OF FINANCIAL POSITION (continued)
Note | 30.06.2022 | 30.06.2021 | ||
£ | £ | |||
Fixed assets | ||||
Investments | 3 |
|
|
|
2,000 | 2,000 | |||
Current assets | ||||
Debtors | 4 |
|
|
|
492,780 | 499,640 | |||
Creditors: amounts falling due within one year | 5 | (
|
(
|
|
Net current assets | 490,780 | 493,640 | ||
Total assets less current liabilities | 492,780 | 495,640 | ||
Net assets |
|
|
||
Capital and reserves | ||||
Called-up share capital | 6 |
|
|
|
Profit and loss account |
|
|
||
Total shareholders' funds |
|
|
Directors' responsibilities:
-
The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476; -
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and -
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.
The financial statements of Biba Medical Group Ltd (registered number:
Prof R M Greenhalgh MA MD MChir FRCS
Director |
NOTES TO THE FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
1. Accounting policies
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.
General information and basis of accounting
Biba Medical Group Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 526 Fulham Road, London, SW6 5NR, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
Going concern
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Reporting period length
The reporting period length of the current period is for the year to 30 June 2022 however the comparatives relate to a 17-month period to 30 June 2021 and therefore are not entirely comparable.
Taxation
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Fixed asset investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Financial instruments
The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, [loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.]
Financial assets
Basic financial assets, including trade and other debtors, and [amounts due from related companies], are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade [and other] creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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.
2. Employees
Year ended 30.06.2022 |
Period from 24.01.2020 to 30.06.2021 |
||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
|
|
3. Fixed asset investments
Investments in subsidiaries
30.06.2022 | |
£ | |
Cost | |
At 01 July 2021 |
|
At 30 June 2022 |
|
Carrying value at 30 June 2022 |
|
Carrying value at 30 June 2021 |
|
4. Debtors
30.06.2022 | 30.06.2021 | ||
£ | £ | ||
Amounts owed by Group undertakings |
|
|
5. Creditors: amounts falling due within one year
30.06.2022 | 30.06.2021 | ||
£ | £ | ||
Other creditors |
|
|
6. Called-up share capital
30.06.2022 | 30.06.2021 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
|
|
|