Medibuild Limited - Accounts to registrar (filleted) - small 18.2
Medibuild Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| MEDIBUILD LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| MEDIBUILD LIMITED (REGISTERED NUMBER: 03357037) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| MEDIBUILD LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| BANKERS: |
| 105 High Street |
| Winchester |
| Hampshire |
| SO23 9AW |
| MEDIBUILD LIMITED (REGISTERED NUMBER: 03357037) |
| BALANCE SHEET |
| 31 MARCH 2021 |
| 2021 | 2020 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Unrealised reserves |
| 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. |
| MEDIBUILD LIMITED (REGISTERED NUMBER: 03357037) |
| BALANCE SHEET - continued |
| 31 MARCH 2021 |
| 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 |
| MEDIBUILD LIMITED (REGISTERED NUMBER: 03357037) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| 1. | STATUTORY INFORMATION |
| Medibuild Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime. |
| The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. |
| The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1. |
| The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below. |
| Going concern |
| The directors have considered the impact and risk on the company of COVID-19 and the company's prospects, recognising the high degree of uncertainty. The directors have concluded that with the right management actions the company is a going concern for at least 12 months following the signature of the financial statements. Accordingly the directors have prepared the financial statements on this basis. |
| Turnover |
| The turnover shown in the profit and loss account represents rent receivable, exclusive of value added tax. |
| Tangible fixed assets |
| Computer equipment | - |
| The gain or loss arising on disposal of an asset is determined as the difference between the sales proceeds and the carrying value of the asset and is recognised in the income statement. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| 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. |
| MEDIBUILD LIMITED (REGISTERED NUMBER: 03357037) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Financial assets |
| Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. |
| Financial liabilities |
| Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost. |
| Equity instruments |
| Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2020 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Computer |
| equipment |
| £ |
| COST |
| At 1 April 2020 |
| Additions |
| Disposals | ( |
) |
| At 31 March 2021 |
| DEPRECIATION |
| At 1 April 2020 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 March 2021 |
| NET BOOK VALUE |
| At 31 March 2021 |
| At 31 March 2020 |
| MEDIBUILD LIMITED (REGISTERED NUMBER: 03357037) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2020 |
| Revaluations | 115,000 |
| At 31 March 2021 |
| NET BOOK VALUE |
| At 31 March 2021 |
| At 31 March 2020 |
| Fair value at 31 March 2021 is represented by: |
| £ |
| Valuation in 1999 | 74,479 |
| Valuation in 2003 | 343,000 |
| Valuation in 2005 | 65,000 |
| Valuation in 2006 | 100,000 |
| Valuation in 2007 | 60,000 |
| Valuation in 2008 | (65,000 | ) |
| Valuation in 2009 | 25,000 |
| Valuation in 2021 | 115,000 |
| Cost | 532,521 |
| 1,250,000 |
| If the investment property had not been revalued it would have been included at the following historical cost: |
| 2021 | 2020 |
| £ | £ |
| Cost | 532,521 | 532,521 |
| The investment property was valued on an open market basis on 31 March 2021 by the directors of the company . |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| MEDIBUILD LIMITED (REGISTERED NUMBER: 03357037) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| 8. | PROVISIONS FOR LIABILITIES |
| 2021 | 2020 |
| £ | £ |
| Deferred tax | 65,324 | 43,474 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2020 |
| Uplift on uncrystalised gains | 21,850 |
| Balance at 31 March 2021 |
| Deferred tax has been calculated at the enacted main corporation tax rate, which at 31 March 2021 was 19%. On 3 March 2021, the government announced an increase in the corporation tax rate to 25%, with effect from 1 April 2023. The effect of the increase to 25% on the deferred tax balance is estimated to be an increase of £20,000. |