Medical And Dental Financial Planners Lt - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC235189 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2020

FOR

MEDICAL AND DENTAL FINANCIAL PLANNERS

LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

K Mackie

G P Ogston

A G Robertson

REGISTERED OFFICE:

4 Kingshill Park

Venture Drive

Arnhall Business Park

Westhill

Aberdeenshire

AB32 6FL

REGISTERED NUMBER:

SC235189 (Scotland)

AUDITORS:

McLay, McAlister & McGibbon LLP

Chartered Accountants and Statutory Auditors

145 St. Vincent Street

Glasgow

G2 5JF

FIXED ASSETS

Tangible assets

4

3,341

3,200

CURRENT ASSETS

Debtors

5

123,797

117,628

Cash at bank

45,219

21,635

169,016

139,263

CREDITORS

Amounts falling due within one year

6

76,291

71,660

NET CURRENT ASSETS

92,725

67,603

TOTAL ASSETS LESS CURRENT LIABILITIES

96,066

70,803

PROVISIONS FOR LIABILITIES

7

635

608

NET ASSETS

95,431

70,195

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

94,431

69,195

95,431

70,195

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 July 2021 and were signed on its behalf by:

A G Robertson - Director

1.	STATUTORY INFORMATION

Medical And Dental Financial Planners Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

Straight line over 3 years

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The company is a member of a group which finances its activities with the assistance of long term loans.

The directors have prepared prudent financial projections which take account of the uncertainties in future trading performance. These demonstrate that the group should be able to operate and comply with the financial covenants and conditions of the facilities.

After making enquiries the directors have an expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements continue to be prepared on the going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2019 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Office

equipment

£

COST

At 1 November 2019

10,619

Additions

3,063

At 31 October 2020

13,682

DEPRECIATION

At 1 November 2019

7,419

Charge for year

2,922

At 31 October 2020

10,341

NET BOOK VALUE

At 31 October 2020

3,341

At 31 October 2019

3,200

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.20

31.10.19

£

£

Amounts owed by group undertakings

75,000

75,000

Other debtors

48,797

42,628

123,797

117,628

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.20

31.10.19

£

£

Taxation and social security

71,589

64,059

Other creditors

4,702

7,601

76,291

71,660

7.	PROVISIONS FOR LIABILITIES

31.10.20

31.10.19

£

£

Deferred tax

635

608

Deferred

tax

£

Balance at 1 November 2019

608

Provided during year

27

Balance at 31 October 2020

635

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

George Macshannon (Senior Statutory Auditor)

for and on behalf of McLay, McAlister & McGibbon LLP

9.	RELATED PARTY DISCLOSURES

Balances of £75,000 (2019: £75,000) are due from group companies, the balances are interest free and repayable on demand.