Musculoskeletal Imaging Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07583325 (England and Wales)

Musculoskeletal Imaging Limited

Unaudited Financial Statements for the Year Ended 31st March 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L J King

H G King

REGISTERED OFFICE:

4 High Street

Alton

Hampshire

GU34 1BU

REGISTERED NUMBER:

07583325 (England and Wales)

ACCOUNTANTS:

Sheen Stickland

Chartered Accountants

4 High Street

Alton

Hampshire

GU34 1BU

FIXED ASSETS

Tangible assets

4

1,007

-

CURRENT ASSETS

Debtors

5

13,873

17,612

Cash at bank

140,174

214,106

154,047

231,718

CREDITORS

Amounts falling due within one year

6

(25,276

)

(45,460

)

NET CURRENT ASSETS

128,771

186,258

TOTAL ASSETS LESS CURRENT LIABILITIES

129,778

186,258

CAPITAL AND RESERVES

Called up share capital

7

200

200

Retained earnings

129,578

186,058

SHAREHOLDERS' FUNDS

129,778

186,258

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2021 in accordance with Section 476 of the Companies Act 2006.

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.

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 Profit and Loss Account and Statement of Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16th December 2021 and were signed on its behalf by:

L J King - Director

1.	STATEMENT OF COMPLIANCE

Musculoskeletal Imaging Limited is a private company, limited by shares, incorporated in England and Wales. The address of the registered office is 4 High Street, Alton, GU34 1BU. The registration number is 07583325.

The financial statements are presented in sterling, which is the functional currency of the company and rounded to the nearest pound.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on the going concern basis as in the opinion of the directors the effects of Covid-19 will not significantly impact on the company's ability to continue to operate.

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.

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account and Statement of Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1st April 2020

2,119

Additions

1,394

At 31st March 2021

3,513

DEPRECIATION

At 1st April 2020

2,119

Charge for year

387

At 31st March 2021

2,506

NET BOOK VALUE

At 31st March 2021

1,007

At 31st March 2020

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

694

7,173

Directors' current accounts

2,319

773

Prepayments

3,011

2,867

Accrued income

7,849

6,799

13,873

17,612

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Tax

19,449

39,840

Other creditors

1,807

1,720

Accruals and deferred income

4,020

3,900

25,276

45,460

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

100

Ordinary A

1

100

100

100

Ordinary B

1

100

100

200

200

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2021 and 31st March 2020:

2021

2020

£

£

L J King

Balance outstanding at start of year

773

(700

)

Amounts advanced

3,194

6,248

Amounts repaid

(1,648

)

(4,775

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

2,319

773

This balance is interest free and will be repaid within 9 months of the year end.

9.	POST BALANCE SHEET EVENTS

Following the end of the year the effects of Covid-19 have continued to be felt by the company. The directors, however, do not consider that this will have a significant impact on the ability of the company to continue to operate.