Abbreviated Company Accounts - MEDIC8 LTD

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Registered Number SC292442

MEDIC8 LTD

Abbreviated Accounts

31 December 2014

MEDIC8 LTD Registered Number SC292442

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Fixed assets
Intangible assets	2	175,000	187,500
		175,000	187,500
Current assets
Cash at bank and in hand		33,108	21,761
		33,108	21,761
Creditors: amounts falling due within one year		(273,873)	(272,022)
Net current assets (liabilities)		(240,765)	(250,261)
Total assets less current liabilities		(65,765)	(62,761)
Total net assets (liabilities)		(65,765)	(62,761)
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		(65,865)	(62,861)
Shareholders' funds		(65,765)	(62,761)

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 28 September 2015

And signed on their behalf by:
Mr P K Solanki, Director

MEDIC8 LTD Registered Number SC292442

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

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Despite the fact that liabilities exceed assets as at 31 December 2014, the Directors are of the opinion that sufficient funding is available to the company to enable it to meet its own liabilities as and when they fall due. The accounts have therefore been prepared on a going concern basis.

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

Intangible assets amortisation policy
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

Other accounting policies
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. The following specific revenue criteria must also be met before revenue is recognised:

- Advertising service fees are recognised when the services have been provided, and;
- Interest income is recognised on an accruals basis.

2Intangible fixed assets

	£
Cost
At 1 January 2014	250,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2014	250,000
Amortisation
At 1 January 2014	62,500
Charge for the year	12,500
On disposals	-
At 31 December 2014	75,000
Net book values
At 31 December 2014	175,000
At 31 December 2013	187,500

3Called Up Share Capital
Allotted, called up and fully paid:

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

4Transactions with directors

Name of director receiving advance or credit:	R Patel
Description of the transaction:	Advances and repayments
Balance at 1 January 2014:	£ 4,500
Advances or credits made:	£ 62,500
Advances or credits repaid:	-
Balance at 31 December 2014:	£ 67,000

Name of director receiving advance or credit:	K Solanki
Description of the transaction:	Advances and repayments
Balance at 1 January 2014:	£ 4,500
Advances or credits made:	£ 62,500
Advances or credits repaid:	-
Balance at 31 December 2014:	£ 67,000

Name of director receiving advance or credit:	P Solanki
Description of the transaction:	Advances and repayments
Balance at 1 January 2014:	£ 5,500
Advances or credits made:	£ 62,500
Advances or credits repaid:	-
Balance at 31 December 2014:	£ 68,000

Name of director receiving advance or credit:	K Bohara
Description of the transaction:	Advances and repayments
Balance at 1 January 2014:	£ 4,500
Advances or credits made:	£ 62,500
Advances or credits repaid:	-
Balance at 31 December 2014:	£ 67,000