Maylands_Healthcare_Limit - Accounts

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

Maylands Healthcare Limited is a private company limited by shares incorporated in England and Wales. The registered office is Orbital House, 20 Eastern Road, Romford, Essex, RM1 3PJ.

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for thetrue foreseeable future and for a period of at least twelve months following the approval of these financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Fixed asset investments are stated at cost less provision for diminution in value.

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

All of the company's financial assets and liabilities are basic and measured at amortised cost.

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The average monthly number of persons (including directors) employed by the company during the year was 0 (2019: 0).

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

The investment in Maylands Enterprises Limited includes £150 (2019: £150) ordinary shares and £160,500 (2019: £160,500) capital loan.

All ordinary shares have attached to them full voting, dividend and capital distribution rights (including on winding up), and do not confer any rights of redemption. The shares rank pari passu in all respects save that dividends may be declared at different rates on the different share classes.

Included in other debtors at the year end is an amount of £17,252 (2019: £15,723) due from Maylands Healthcare Medical Practice of which some of the directors are partners.

Included in other creditors are amounts due to the directors as follows:

Dr H Jenkins £25,740 (2019: £25,223)

Dr S Jothimurugan £2,132 (2019: £1,613)

Dr S Shridhar £19,053 (2019: £18,535)

Dr N Rao £2,054 (2019: £1,535)

Dr A Aggarwal £2,054 (2019: £1,535)