Pearl Medical Consultancy Limited - Period Ending 2021-03-31

Pearl Medical Consultancy Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 7

Pearl Medical Consultancy Limited

Company Information

Directors

Mrs Caroline Anne Pearl Dr Daniel Simon Pearl

Registered office

Francis Clark LLP Ground Floor, Blackbrook Gate 1 Blackbrook Business Park Taunton Somerset TA1 2PX

Accountants

Francis Clark LLP Ground Floor Blackbrook Gate 1 Blackbrook Business Park Taunton Somerset TA1 2PX

Pearl Medical Consultancy Limited

Balance Sheet

31 March 2021

	Note	2021 £	2020 £
Fixed assets
Tangible assets	4	383	767
Other financial assets	5	1	1
		384	768
Current assets
Debtors	6	7,034	4,320
Cash at bank and in hand		75,157	56,655
		82,191	60,975
Creditors: Amounts falling due within one year	7	(8,193)	(8,979)
Net current assets		73,998	51,996
Net assets		74,382	52,764
Capital and reserves
Called up share capital	8	20	20
Profit and loss account		74,362	52,744
Total equity		74,382	52,764

Pearl Medical Consultancy Limited

Balance Sheet

31 March 2021

For the financial year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 24 December 2021 and signed on its behalf by:
 

......................................... Dr Daniel Simon Pearl Director

Company Registration Number: 08964790

Pearl Medical Consultancy Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2021

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Francis Clark LLP
Ground Floor, Blackbrook Gate 1
Blackbrook Business Park
Taunton
Somerset
TA1 2PX
England

These financial statements were authorised for issue by the Board on 24 December 2021.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' , including Section 1A, and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future. The directors, having made all necessary enquiries, are satisfied that the going concern basis of preparation remains appropriate.

The directors do, however, recognise the significant and potentially prolonged uncertainty that exists in the UK economy, as a result of the Covid-19 pandemic. Whilst the directors believe that the company is well prepared to deal with the potential impacts, from both an operational and financial perspective, they recognise that there can be no certainty in this respect.

Revenue recognition

Turnover comprises the fair value of the consideration receivable for the provision of services in the ordinary course of the company’s activities. The company recognises revenue when the services have been provided.

Pearl Medical Consultancy Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2021

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	33% straight line

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2020 - 1).

Pearl Medical Consultancy Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2021

4	Tangible assets

	Office equipment  £	Total £
Cost or valuation
At 1 April 2020	3,255	3,255
At 31 March 2021	3,255	3,255
Depreciation
At 1 April 2020	2,488	2,488
Charge for the year	384	384
At 31 March 2021	2,872	2,872
Carrying amount
At 31 March 2021	383	383
At 31 March 2020	767	767

5	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Non-current financial assets
Cost or valuation
At 1 April 2020	1	1
At 31 March 2021	1	1
Carrying amount
At 31 March 2021	1	1

Pearl Medical Consultancy Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2021

6

Debtors

	2021 £	2020 £
Trade debtors	7,034	4,320
	7,034	4,320

7

Creditors

Creditors: amounts falling due within one year

	2021 £	2020  £
Due within one year
Corporation tax	2,464	809
Social security and other taxes	5	-
Other creditors	3,624	6,070
Accrued expenses	2,100	2,100
	8,193	8,979

8	Share capital

Allotted, called up and fully paid shares

	2021		2020
	No.	£	No.	£
Ordinary shares of £1 each	20	20	20	20