Abbreviated Company Accounts - MEDICEAN LIMITED

05693533 MEDICEAN LIMITED 2014-12-31 false 2014-01-01 2014-12-31 true 05693533 2014-01-01 2014-12-31 05693533 2014-12-31 05693533 2013-12-31 05693533 uk-gaap-cd-bus:Director1 2014-01-01 2014-12-31 05693533 uk-gaap-cd-bus:Director2 2014-01-01 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-01-01 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-12-31 iso4217:GBP shares

Registered Number 05693533

MEDICEAN LIMITED

Abbreviated Accounts

31 December 2014

MEDICEAN LIMITED Registered Number 05693533

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	7,444	11,669
Investments	3	200	-
		7,644	11,669
Current assets
Stocks		500	500
Debtors		61,365	53,474
Cash at bank and in hand		-	30
		61,865	54,004
Creditors: amounts falling due within one year		(64,896)	(73,832)
Net current assets (liabilities)		(3,031)	(19,828)
Total assets less current liabilities		4,613	(8,159)
Provisions for liabilities		(750)	(1,490)
Total net assets (liabilities)		3,863	(9,649)
Capital and reserves
Called up share capital	4	100	100
Profit and loss account		3,763	(9,749)
Shareholders' funds		3,863	(9,649)

For the year ending 31 December 2014 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 1 September 2015

And signed on their behalf by:
Mrs Natasha Rose, Director

MEDICEAN LIMITED Registered Number 05693533

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

As at 31 December 2013, the company's liabilities exceeded its assets. The director consider the company to be a going concern on the basis that continued support is provided by the related companies. On this basis, the director considers it appropriate to prepare the financial statements on a going concern basis.

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings leasehold 10 year lease term
Fixtures, fittings & equipment 33% Straight line

Other accounting policies
Investments
Fixed asset investments are stated at cost less provision for diminution in value.

Stock
Stock is valued at the lower of cost and net realisable value.

Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertakings comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company Subsidiary undertakings - Pennekamp Limited, Country of registration or incorporation - England and Wales, Shares held class - Ordinary 100%
Company Subsidiary undertakings - Perez Rose Limited, Country of registration or incorporation - England and Wales, Shares held class - Ordinary 100%

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Pennekamp Limited, Principal activity - Hairdressers, Capital and reserves 2014 £(49,616), Profit/(loss) for the year 2014 £(32,986)
Perez Rose Limited, Principal activity - Hairdressers, Capital and reserves 2014 £7,761, Profit/(loss) for the year 2014 £8,978

2Tangible fixed assets

	£
Cost
At 1 January 2014	17,305
Additions	288
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2014	17,593
Depreciation
At 1 January 2014	5,636
Charge for the year	4,513
On disposals	-
At 31 December 2014	10,149
Net book values
At 31 December 2014	7,444
At 31 December 2013	11,669

3Fixed assets Investments
Cost at 1 January 2014 £Nil
Additions £200
Cost at 31 December 2014 £200
Net book value at 31 December 2014 £200

4Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
100 Ordinary shares of £1 each	100	100