Company Registration No. 03920303 (England and Wales)
F.T. MEDCALF (2000) LIMITED
Unaudited accounts
for the year ended 31 March 2021
F.T. MEDCALF (2000) LIMITED
Unaudited accounts
Contents
F.T. MEDCALF (2000) LIMITED
Statement of financial position
as at 31 March 2021
Cash at bank and in hand
25,060
203
Creditors: amounts falling due within one year
(16,098)
(14,019)
Net current assets/(liabilities)
23,925
(3,923)
Total assets less current liabilities
23,925
(3,633)
Creditors: amounts falling due after more than one year
(23,750)
-
Net assets/(liabilities)
175
(3,633)
Called up share capital
100
100
Profit and loss account
75
(3,733)
Shareholders' funds
175
(3,633)
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 21 June 2021 and were signed on its behalf by
Kevin Robert De'ath
Director
Company Registration No. 03920303
F.T. MEDCALF (2000) LIMITED
Notes to the Accounts
for the year ended 31 March 2021
F.T. MEDCALF (2000) LIMITED is a private company, limited by shares, registered in England and Wales, registration number 03920303. The registered office is WORKSHOP AREA, R/O 141 BECONTREE AVENUE, DAGENHAM, ESSEX, RM8 2UL, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33.33% straight line basis
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
F.T. MEDCALF (2000) LIMITED
Notes to the Accounts
for the year ended 31 March 2021
4
Tangible fixed assets
Plant & machinery
5
Debtors: amounts falling due within one year
2021
2020
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
-
3,435
Trade creditors
4,099
2,740
Taxes and social security
583
-
Loans from directors
9,363
6
7
Creditors: amounts falling due after more than one year
2021
2020
8
Post balance sheet events
The global pandemic of the coronavirus (COV1D 19), has seen countries all around the World having to lock-down cities and surrounding communities in order to contain the disease and protect their healthcare systems. Consequently these necessary actions have seen an economic slowdown across all global markets.
The directors recognize that the global pandemic is not over and that the prevailing situation will continue to effect businesses that are considered non-essential for the purpose of fighting the disease and supporting populations that are in lock down. The extent of the economic impact that this will have on the Company is not underestimated, however the directors have taken the necessary steps to receive updates from the relevant Industry to ensuring that they remain inline with the expectation during this unprecedented time.
F.T. MEDCALF (2000) LIMITED
Notes to the Accounts
for the year ended 31 March 2021
9
Average number of employees
During the year the average number of employees was 2 (2020: 2).
