Psychiatric Medical Services Limited - Accounts to registrar (filleted) - small 18.2
Psychiatric Medical Services Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31st March 2022 |
| for |
| Psychiatric Medical Services Limited |
| Psychiatric Medical Services Limited (Registered number: 04151017) |
| Contents of the Financial Statements |
| for the Year Ended 31st March 2022 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 3 |
| Psychiatric Medical Services Limited (Registered number: 04151017) |
| Balance Sheet |
| 31st March 2022 |
| 31.3.22 | 31.3.21 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| 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. |
| Psychiatric Medical Services Limited (Registered number: 04151017) |
| Balance Sheet - continued |
| 31st March 2022 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Psychiatric Medical Services Limited (Registered number: 04151017) |
| Notes to the Financial Statements |
| for the Year Ended 31st March 2022 |
| 1. | COMPANY INFORMATION |
| Psychiatric Medical Services Limited is a |
| Registered number: |
| Registered office: |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Critical accounting judgements and key sources of estimation uncertainty |
| In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
| There have been no critical judgements, estimates or assumptions made in the preparation of these 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. |
| Revenue from the provision of professional services is recognised on delivery of the service. |
| Tangible fixed assets |
| Tangible Fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment loss. |
| Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis: |
| Fixtures and Fittings - 25% on cost |
| Motor Vehicle - 15% on reducing balance |
| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss. |
| Psychiatric Medical Services Limited (Registered number: 04151017) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st March 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
| Other loans |
| Other loans are covered by the Directors' personal guarantee. |
| Assets held under hire purchase agreements |
| The net obligations under finance leases and hire purchase contracts are secured against the assets to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Motor |
| fittings | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1st April 2021 |
| Additions |
| At 31st March 2022 |
| DEPRECIATION |
| At 1st April 2021 |
| Charge for year |
| At 31st March 2022 |
| NET BOOK VALUE |
| At 31st March 2022 |
| At 31st March 2021 |
| Included within the net book value of £23,864 is £22,218 relating to assets held under hire purchase agreements. |
| Psychiatric Medical Services Limited (Registered number: 04151017) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st March 2022 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.22 | 31.3.21 |
| £ | £ |
| Trade debtors |
| Other debtors |
| S455 recoverable | 149,787 | 61,987 |
| Directors' current accounts | 657,350 | 387,197 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.22 | 31.3.21 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Tax |
| s455 payable | 149,787 | 61,987 |
| Social security and other taxes |
| Other loans |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.3.22 | 31.3.21 |
| £ | £ |
| Hire purchase contracts |
| Other loans more than 1 year |
| The loan amount relates to loans more than one year from Hargreaves Lansdown and Circle funding. |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.3.22 | 31.3.21 |
| value: | £ | £ |
| Ordinary A | £1 | 2 | 2 |
| The ordinary shares rank equally in terms of voting rights to participate in all dividend distributions and rights to participate in any capital distribution on winding up. |
| Psychiatric Medical Services Limited (Registered number: 04151017) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st March 2022 |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31st March 2022 and 31st March 2021: |
| 31.3.22 | 31.3.21 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| The loan is repayable on demand and no interest was charge during the year. |
| 10. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is Dr Martin by virtue of holding 100% of the voting share capital. |