Medicines R Us Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07258925 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2021

for

Medicines R Us Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs G Sharma

A K Sharma

REGISTERED OFFICE:

2nd Floor

Grove House

55 Lowlands Road

Harrow

Middlesex

HA1 3AW

REGISTERED NUMBER:

07258925 (England and Wales)

FIXED ASSETS

Tangible assets

4

18,323

38,596

Investments

5

100

100

18,423

38,696

CURRENT ASSETS

Stocks

30,780

29,916

Debtors

6

316,909

232,657

Cash at bank and in hand

180,995

127,798

528,684

390,371

CREDITORS

Amounts falling due within one year

7

283,968

296,955

NET CURRENT ASSETS

244,716

93,416

TOTAL ASSETS LESS CURRENT LIABILITIES

263,139

132,112

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

263,039

132,012

SHAREHOLDERS' FUNDS

263,139

132,112

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 February 2022 and were signed on its behalf by:

A K Sharma - Director

1.	STATUTORY INFORMATION

Medicines R Us Limited is a private company, limited by shares , registered in England and Wales. 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.

Land and buildings

-

10% on cost

Plant and machinery etc

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - 5 ).

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 June 2020

and 31 May 2021

35,433

82,115

117,548

DEPRECIATION

At 1 June 2020

35,433

43,519

78,952

Charge for year

-

20,273

20,273

At 31 May 2021

35,433

63,792

99,225

NET BOOK VALUE

At 31 May 2021

-

18,323

18,323

At 31 May 2020

-

38,596

38,596

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 June 2020

and 31 May 2021

100

NET BOOK VALUE

At 31 May 2021

100

At 31 May 2020

100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

204,970

180,370

Amounts owed by group undertakings

87,275

27,949

Other debtors

24,664

24,338

316,909

232,657

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

220,013

223,200

Taxation and social security

39,735

36,106

Other creditors

24,220

37,649

283,968

296,955

8.	RELATED PARTY DISCLOSURES

Amounts owed by group undertakings relates to Medicines 4U Ltd £87,275 (2020: £27,949), this is the parent company.

Included in other debtors is £1,500 (2020: £1,500) this relates to Medicines Direct Ltd, a company where the directors; A K Sharma and G Sharma are also directors and shareholders.

Director's current account credit balance of £63 (2020: £24,673) relates to A K Sharma.

9.	ULTIMATE CONTROLLING PARTY

Medicines 4U Ltd is the company's ultimate parent company.